EQS-News: GESCO SE
/ Key word(s): Half Year Report/Half Year Results
Prime Standard-listed GESCO SE, an industrial group of medium-sized market and technology leaders, published its half-year report 2024 today. The economic upturn expected at the beginning of the year for the second half of the year continues to be delayed. The recent deterioration in sentiment indicators and the renewed decline in incoming orders and production show a continuing weakness in German industry. The mechanical engineering sector is currently experiencing an even worse development. While a decline of 3% is expected for the EU as a whole in the current year, mechanical engineering in Germany is expected to fall by as much as 4%. GESCO Group was unable to escape this persistently weak economic development in Germany and Europe, with noticeably subdued demand in the first half of the year. As in the first quarter, incoming orders at GESCO Group exceeded sales in the second quarter and, for the first time in some time, were higher than in the same quarter of the previous year. In conjunction with the usual delivery of some mechanical engineering projects at the end of the second half of the year, GESCO anticipates an increase in earnings in the second half of the year. However, the overall economic development of GESCO Group prompted the Executive Board to adjust its forecast for the current financial year at the end of July and reduce its sales and earnings expectations. Group sales of € 520 - 540 million and Group earnings after minority interest of around € 8 - 12 million are expected for financial year 2024 as a whole. The full 2024 half-year report is available at www.gesco.de/investor-relations/finanzberichte
1) After minority interests2) XETRA closing price on the balance sheet date3) Number on the balance sheet date
About GESCO: GESCO SE is an industrial group with market- and technology-leading companies in the capital goods industry specialising in process, resource, healthcare and infrastructure technology. As a Prime Standard-listed company, GESCO SE gives private and institutional investors access to a portfolio of hidden champions in the industrial SME sector.
Contact: Peter Alex
13.08.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
Language: | English |
Company: | GESCO SE |
Johannisberg 7 | |
42103 Wuppertal | |
Germany | |
Phone: | +49 (0)202 24820 18 |
Fax: | +49 (0)202 2482049 |
E-mail: | ir@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 |
EQS News ID: | 1966233 |
End of News | EQS News Service |
|
1966233 13.08.2024 CET/CEST
The information presented here has been provided by our content partner EQS-Group. The originator of the news is the respective issuer, the company relating to the news, a publication service provider (press or information agency) which uses the distribution service of EQS to transmit company news to shareholders, investors, investors or interested parties. The original publications and other company-relevant information can be found at eqs-news.com.
The information you can access does not constitute investment advice. The presentation of our cooperation partners, where the implementation of investment decisions would be possible depending on the individual risk profile, is solely at the discretion of the person using the service. We only present companies of which we are convinced that the range of services and customer service will satisfy discerning investors.
If you are considering leverage products, familiarise yourself with the typical characteristics of the financial instruments beforehand. Take the time to determine the risk content of the planned investment before making an investment decision. Bear in mind that a total loss cannot be ruled out with leverage products.
For newcomers to the subject, we offer various options in both the training and the tools section, through which you can train theoretical knowledge and practical experience and thus improve your skills. The offer ranges from participation in webinars to personal mentoring. The range is continuously being expanded.
1 Lab features are usually functionalities that emerge from the think tank of the investor community. In the early stages, these are experimental functionalities whose development process is largely determined by use and the resulting feedback from the community. When integrating external services or functionalities, the functionality can only be guaranteed to the extent that the individual process elements, such as interfaces, interact with each other.