GESCO raises its operating outlook for the current 2017/2018 financial year
Gesco AG / Key word(s): Change in Forecast/Results Forecast Wuppertal, 7 February 2018 - Prime standard listed GESCO AG is raising its operating outlook for the current financial year 2017/2018 (01.04.2017 to 31.03.2018). After the first half year had already been characterized by a positive economic development, the lively business activity continued in the third quarter. In addition, according to preliminary figures, the fourth quarter, which covers the operating months of the subsidiaries from October to December 2018, was better than originally expected. With the half-year interim report published in November 2017, the Company had forecast group sales and group net income after minority interest at the upper end of the originally communicated ranges, corresponding to approximately EUR 530 million for group sales and approximately EUR 18 million for group net income after minority interest. Based on the information currently available, the company now expects group sales of around EUR 545 million and group net income after minority interest in a range of EUR 20 million to EUR 21 million. With the ad hoc announcement of 12 December 2017, GESCO AG had informed about ongoing antitrust proceedings against Dörrenberg Edelstahl GmbH, a 90 % subsidiary of GESCO AG. A potential negative impact on results from this procedure is neither included in the financial statements for the nine-month period nor in the outlook for the full financial year, as its level can not be reliably determined or estimated on the basis of current knowledge. The quarterly statement for the nine-month period with preliminary figures for the fourth quarter and a full-year outlook for 2017/2018 will be published on 14 February 2018 and will be available at http://www.gesco.de/reports. The key figures group sales and group net income after minority interest are used in the same way as in the consolidated financial statements of GESCO AG as of March 31, 2017, available on the Internet at http://www.gesco.de/reports. Investor Relations - Oliver Vollbrecht Contact: Head of Investor Relations, Oliver Vollbrecht Tel. +49-202 24820-18 Fax +49-202 24820-49 E-Mail: info@gesco.de Internet: www.gesco.de
07-Feb-2018 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
| Language: | English |
| Company: | Gesco AG |
| Johannisberg 7 | |
| 42103 Wuppertal | |
| Germany | |
| Phone: | +49 (0)202 248200 |
| Fax: | +49 (0)202 2482049 |
| E-mail: | gesco@gesco.de |
| Internet: | www.gesco.de |
| ISIN: | DE000A1K0201 |
| WKN: | A1K020 |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange |
| End of Announcement | DGAP News Service |