DGAP-News GESCO AG closes mobility technology segment, undertakes largest portfolio adjustment in company history and renews outlook for financial year 2020

Nachrichtenquelle: EQS Group AG
21.12.2020, 21:38  |  134   |   |   

DGAP-News: Gesco AG / Key word(s): Disposal/Forecast
GESCO AG closes mobility technology segment, undertakes largest portfolio adjustment in company history and renews outlook for financial year 2020

21.12.2020 / 21:38
The issuer is solely responsible for the content of this announcement.


  • GESCO AG divests six subsidiaries
  • Milestone in implementation of NEXT LEVEL
  • Improved profitability, strengthened balance sheet
  • Outlook for year as a whole renewed
  • Focus on acquisitions
Wuppertal, 21 December 2020 - GESCO AG has concluded a contract today on the sale of a group of six subsidiaries. The acquirer is a fund of Evoco AG, Zurich, an investor specialised in the acquisition and development of medium-sized portfolios. The transaction constitutes the closing of GESCO's mobility technology segment as well as the largest portfolio adjustment in company history. The transaction is carried out within the scope of the NEXT LEVEL strategy and aims at making the portfolio more profitable, robust and guaranteeing future viability.

The four companies that make up the mobility technology segment as well as Frank Walz- und Schmiedetechnik GmbH and C.F.K. CNC-Fertigungstechnik Kriftel GmbH will be divested. The closing of the transaction is expected to take place for five of the six companies shortly after the signing of the contract; for Paul Beier GmbH & Co. KG from the mobility technology segment, the closing is subject to the granting of regulatory approval.

Based on the figures for financial year 2020, GESCO will thereby dispose of roughly € 90 million in Group sales and some € -15 million in Group EBIT, which consists of an operating loss of around € -1.5 million and € -13.5 million in impairment losses from impairment tests already carried out in the summer of 2020.

The purchase price amounts to € 27 million and is accompanied by a net cash inflow of € 15 million, which is partially earmarked for reduction of liabilities and partially for acquisitions. In addition, the buyer assumes net liabilities, pension obligations and lease liabilities of in total approximately € 28 million.

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DGAP-News GESCO AG closes mobility technology segment, undertakes largest portfolio adjustment in company history and renews outlook for financial year 2020 DGAP-News: Gesco AG / Key word(s): Disposal/Forecast GESCO AG closes mobility technology segment, undertakes largest portfolio adjustment in company history and renews outlook for financial year 2020 21.12.2020 / 21:38 The issuer is solely …

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