GESCO – strong growth in the first quarter


Wuppertal, 11 August 2005 – Prime Standard-listed holding company GESCO AG reported strong growth in the first quarter (01.04. to 30.06.2005) of financial year 2005/2006 in terms of sales and income. This progress reflects that the company has been able to build on the dynamic growth of the past two quarters of the previous financial year and has stayed on target for all key figures.

The GESCO Group increased incoming orders in the first quarter of 2005 by 16.3 % to EUR 58.3 million (previous year: EUR 50.1 million). Group sales were up 27.7 % to EUR 53.3 million (EUR 41.8 million). The arrival of the Setter Group accounted for around 5 % of this increase in sales. The Setter Group was acquired by GESCO AG in April 2004 and was not included in company figures for the first quarter of the previous year.

Key results figures clearly outperformed those of the previous year: EBITDA (earnings before interest, tax, depreciation and amortisation) rose by 40.6 % to EUR 5.9 million (EUR 4.2 million), EBIT (earnings before interest and tax) rose 60.3 % to EUR 4.1 million (EUR 2.5 million). At EUR 2.0 million, Group net income was 24.7 % above the previous year’s level of EUR 1.6 million. Earnings per share stood at EUR 0.80 (EUR 0.64).

The number of employees increased from 1,127 to 1,205, mainly due to the inclusion of the Setter Group.

In view of the figures for the first quarter, the company is confident of achieving its target figures for the year as a whole, which were made public at the accounts press conference.