GESCO AG confirms outlook after first half year
- Incoming orders and sales increase strongly - Earnings grow above average - Full year guidance confirmed
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Wuppertal (euro adhoc) - Wuppertal, 10 November 2008 - The SDAX listed investment holding company GESCO AG is reporting continuing dynamic operating business in the first half year (1 Apr. to 30 Sept. 2008) of the financial year 2008/2009 (1 Apr. 2008 to 31 Mar. 2009) and has confirmed its full year guidance.
Incoming orders increased by 21 % to EUR 218 million (previous period EUR 180 million). Sales also grew considerably by 16 % and amounted to EUR 193 million (EUR 165 million). Key figures for operating earnings developed again better than sales: Earnings before interest, taxes, depreciation and amortisation (EBITDA) grew by 29 % from EUR 23 million to EUR 29 million and earnings before interest and taxes (EBIT) increased by 35 % to EUR 24 million (EUR 18 million). Group net income after minority interests grew by 43 % and reached EUR 13.6 million (EUR 9.5 million). This was also influenced by a lower tax bill in the wake of the tax reform. Earnings per share amounted to EUR 4.51 (EUR 3.15).
The workforce increased by 3.8 %, up from 1,675 to 1,738 employees year-on-year.
At the accounts press conference on 26 June 2008, the company forecasted Group sales of EUR 370 million (previous year EUR 333 million) and Group net income after minority interests of EUR 21.5 million (EUR 17.8 million) as well as earnings per share of EUR 7.11 (EUR 5.92). Based on the figures for the first half year the company is confirming this guidance.
GESCO Executive Board member Dr. Hans-Gert Mayrose on the half year figures: "Given the extremely positive economic development in the first half of the year, based on current knowledge we believe that we have a good chance of comfortably achieving or exceeding the guidance in business operations. These opportunities stand in contrast to the high levels of uncertainty regarding general economic development. Considering these opportunities and risks, we are leaving the guidance at the level that we communicated at the accounts press conference."
Read the full quarterly report at www.gesco.de.
About GESCO AG GESCO AG is the parent company of a group of small and medium-sized companies in the field of industrial Base Technologies. GESCO acquires successful niche providers, generally as part of succession arrangements, in order to retain and further develop these long term. As an SDAX listed company GESCO AG offers private and institutional investors access to SMEs.
Investor Relations - Oliver Vollbrecht Phone +49 (0) 2 02 2 48 20 18 - Fax +49 (0) 2 02 2 48 20 49 E-mail: info@gesco.de - Internet: www.gesco.de
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Further inquiry note:
Oliver Vollbrecht
Leiter Investor Relations
T.: +49(0)202 24820 18
info@gesco.de
Branche: Economy, Business & Finance
ISIN: DE0005875900
WKN: 587590
Index: SDAX, Classic All Share, Prime All Share
Börsen: Börse Frankfurt / regulated dealing/prime standard
Börse Berlin / free trade
Börse Hamburg / free trade
Börse Stuttgart / free trade
Börse Düsseldorf / free trade
Börse München / free trade
Original content of: GESCO AG, transmitted by news aktuell