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EQS-News: GESCO SE
/ Key word(s): 9 Month figures/Quarterly / Interim Statement
Prime Standard-listed GESCO SE, an industrial group of medium-sized market and technology leaders, today published its 9-months statement 2024. Incoming orders totalled € 400.6 million in the reporting period, down 4.0 % on the previous year, but significantly higher than the sales generated. This results in a book-to-bill ratio of 1.05. Overall, GESCO Group generated sales of € 382.9 million in the first three quarters, which was significantly below the previous year's figure. This development reflects the general weakness in demand in the investment sector in Germany and Europe, particularly in the mechanical engineering sector, which is so important for our largest subsidiary Doerrenberg. It is pleasing to note that we have not seen any migration of customers to competitors. The lower sales and, above all, negative effects due to the low-price level at Doerrenberg caused EBITDA to fall from € 44.5 million to € 26.5 million in the reporting period. At € 9.2 million, EBIT in the reporting period was significantly lower than in the same period of the previous year (Q1-Q3 2023: € 28.8 million), as were Group earnings after minority interests, which totalled € 5.4 million (Q1-Q3 2023: € 19.6 million). Earnings per share for the reporting period totalled € 0.51 (Q1 - Q3 2023: € 1.80). "Certainly, we cannot be satisfied with our business performance in the current year," says CEO Johannes Pfeffer, who took office on 1 October 2024, "and an improvement in the short term is not yet foreseeable. However, now that I have visited all GESCO Group companies and have been able to gain an in-depth impression, I am very confident that we will benefit disproportionately from an improvement in the general conditions and ultimately emerge stronger from the current crisis. We have very strong companies whose products fulfil essential customer needs. I see great potential for growth, both in existing markets and in new markets to be developed". The full 9-months statement 2024 is available at www.gesco.de/en/investor-relations/financial-report.
1) After minority interests 2) XETRA closing price on the balance sheet date 3) 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
12.11.2024 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: | 2027363 |
| End of News | EQS News Service |
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2027363 12.11.2024 CET/CEST
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