DGAP-News: Gesco AG / Key word(s): AGM/EGM/AGM/EGM30.08.2018 / 16:47
The issuer is solely responsible for the content of this announcement.
- New CEO Ralph Rumberg introduces himself to shareholders
- Dividend per share raised from EUR 0.35 to EUR 0.60
- Most recent acquisition, Sommer & Strassburger, presented
- Executive Board reaffirms positive outlook for the current financial year
Wuppertal, 30 August 2018 - Today's Annual General Meeting of GESCO AG, a Prime Standard-listed company, resolved to raise the dividend per share significantly by 71.4 % from EUR 0.35 to EUR 0.60. In addition, the Annual General Meeting approved the Executive Board remuneration system.
As part of the Annual General Meeting, Ralph Rumberg, the Spokesman of the Executive Board since 1 July 2018, introduced himself to shareholders and started outlining the course of things to come. CFO Robert Spartmann confirmed the guidance for the current financial year 2018/2019.
The Executive Board also presented the latest addition to GESCO Group, the recently acquired Sommer & Strassburger GmbH & Co. KG, a designer and manufacturer of processing equipment for the pharmaceutical, food, water technology and chemical industries. With a workforce of around 125 employees, the company generates nearly EUR 20 million in sales.
Ralph Rumberg: "I am particularly pleased about the new addition of Sommer & Strassburger, as it will help us to strengthen our position in the Production Process Technology segment. All in all it is my firm belief that GESCO Group has very good chances for a successful future. We have strong assets on which we can build, and we have good, experienced teams. I perceive the market position and product developments at the subsidiaries, as well as operative excellence at all levels, to be the focus of development. We will also raise the profile of GESCO AG's added value when it comes to investment management, M&A and organisational development, thereby creating the basis for high organic growth and for regular inorganic growth. In the combination of both, I see GESCO as an excellently positioned industrial group with many hidden champions."
CFO Robert Spartmann reaffirmed the guidance for the current financial year 2018/2019: "At the accounts press conference, we forecast Group sales of EUR 550 million to EUR 560 million and Group net income after minority interest of EUR 26 million to EUR 27 million. The successful first quarter and the unusually high number of incoming orders in the second quarter boost our confidence that we will reach our sales target, even though some of these orders will not be posted as sales until the next financial year. We expect demand to normalise somewhat in the second half of the year. Despite the sustained strong pressure on margins in the Mobility Technology segment, all told, we confirm the forecast based on the information available at the present time."
GESCO AG is an industrial group made up of market and technology leading companies in the capital goods industry. Its focus is on production process technology, resource technology, healthcare and infrastructure technology and mobility technology. As a stock company listed in the Prime Standard, GESCO AG offers private and institutional investors access to a portfolio of hidden champions among Germany's industrial SMEs.
Investor Relations - Oliver Vollbrecht
Phone +49 202 24820-18 - Fax +49 202 24820-49
Email: email@example.com - Website: www.gesco.de
30.08.2018 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de