EQS-News

GESCO SE: Publication of consolidated financial statements & outlook for 2024

EQS-News: GESCO SE / Key word(s): Annual Report/Forecast GESCO SE: Publication of consolidated financial statements & outlook for 2024 11.04.2024 / 07:30 CET/CEST The issuer is solely responsible for the content of this announcement. Positive outlook for 2024:    - Sales: € 570 - 590 million (2023: € 561 million)    - Group net earnings (after minority interest) of € 26 - 28 million (2023: € 20.9 million) Share buyback programme launched Prime Standard-listed GESCO SE, an industrial group of medium-sized market and technology leaders, published its 2023 Annual Report today, confirming the preliminary figures reported on 20 March 2024.

Overall, GESCO closed financial year 2023 with sales of € 560.7 million and operating EBIT of € 35.9 million. This is accompanied by Group net earnings after minority interest of € 25.6 million before non-cash impairment losses on two subsidiaries totalling € 5.1 million.

Due to this solid result, the management of GESCO SE has decided to let the Company's shareholders participate in the business results through both a dividend and a share buyback. A dividend of € 0.40 per share will be proposed to the upcoming Annual General Meeting. The share buyback programme announced on 28 March 2024 also starts today. As part of this programme, up to 500,000 shares in the Company will be bought back at a purchase price of EUR 17.80. The public buyback offer thus corresponds to up to 4.61% of the statutory share capital and has a volume of up to € 8.9 million.

After consulting with a large number of investors, we are convinced that this combination of share buyback and dividend fulfils the wishes of the majority of our shareholders.

For the current financial year, the Executive Board expects an increase in sales to € 570 - 590 million (2023: € 561 million) and consolidated net earnings (after minority interests) of € 26 - 28 million (2023: € 20.9 million).

The full 2023 annual report is available at https://www.gesco.de/en/investor-relations/financial-reports.

The annual accounts press conference can be followed live on the GESCO website www.gesco.de from 11:00 a.m. today, 11 April 2024. A video recording of the annual accounts press conference will be available on the GESCO website at https://www.gesco.de/en/investor-relations/financial-reports.