GESCO SE: Successful start to the new business year
May 12, 2023 at 01:33 am EDT
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EQS-News: GESCO SE
/ Key word(s): Quarter Results/Quarterly / Interim Statement
GESCO SE: Successful start to the new business year
12.05.2023 / 07:30 CET/CEST
The issuer is solely responsible for the content of this announcement.
Incoming orders continue to exceed sales
Solid quarter-on-quarter increase in sales
Group earnings at a good level
With the publication of its quarterly statement for the first quarter of 2023, GESCO SE, an industrial group of medium-sized market and technology leaders listed in the Prime Standard, confirms the preliminary figures and the outlook for the current full year already published on 18 April 2023 at the annual press and analysts' conference.
At € 157.5 million, order intake in Q1 2023 was slightly below the record order intake of the first quarter of 2022 (€ 168.8 million) and thus follows the slightly gloomier economic situation. Order intake in the Process and Health & Infrastructure Technology segments was below the previous year's level, while it was higher in the Resources Technology segment.
At € 6.7 million, Group earnings developed as planned. It should be noted that one-off positive effects made a noticeable contribution in the comparable quarter of 2022. Adjusted for this one-off effect, Group earnings is at a comparable level.
With the established excellence programmes and high agility, we are confident that we will be able to build on the past successful business years and further expand our market shares in the current year. With the solid start to the new financial year behind us, we are confident about the current financial year, despite the well-known general conditions: With consolidated sales in a range of € 600 million to € 620 million, we expect Group earnings after minority interests in a range of € 32.0 million to € 34.0 million. This forecast does not, of course, take into account planned acquisitions.
The full interim statement for the first quarter of 2023 is available at www.gesco.de/en/investor-relations/financial-reports.
GESCO Group key figures (IFRS)
01/01/2023 – 03/31/2023
01/01/2022 – 03/31/2022
Change (in %)
Incoming orders
T€
157,500
168,784
-6.7%
Sales
T€
147,270
138,118
6.6%
EBITDA
T€
15,824
17,815
-11.2%
EBIT
T€
11,530
13,343
-13.6%
EBIT margin (in %)
%
7.8%
9.7%
-183 bp
EBT
T€
10,719
14,133
-24.2%
Group earnings1)
T€
6,730
8,821
-23.7%
Earnings per share (in €)
€
0.62
0.81
-23.5%
Closing price (in €)2)
€
26.40
23.90
10.5%
Employees3)
Number
1,890
1,800
5.0%
1) After minority interests. 2) XETRA closing price on the balance sheet date. 3) Number as at the balance sheet date
About GESCO:
GESCO SE is an industrial group with market- and technology-leading companies in the capital goods industry with a focus on process, resource and healthcare and infrastructure technology. As a Company listed in the Prime Standard, GESCO SE gives private and institutional investors access to a portfolio of hidden champions of the German industrial SME sector.
12.05.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement.
The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.eqs-news.com
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
Gesco AG is a Germany-based investment company that acquires industrial small and medium-sized enterprises (SMEs). The Company focuses on production process technology, resource technology, health, and infrastructure technology, as well as mobility technology, and operates as a long-term investor. It manages takeovers both through management buyouts (MBOs) and management buy-ins (MBI), and through group spin-offs. It offers machines, production facilities, tools, components, and services from steelmaking to 3Dimension (3D) printing, from medical technology to special purpose mechanical engineering. The Company operates in Germany and its subsidiaries include, among others, Astroplast Kunststofftechnick Gmbh & Co KG, Franz Funke Zerspanungstechnik GmbH & Co KG, Doemer GmbH & Co KG Stanz- und Umformtechnologie, Doerrenberg Edelstahl GmbH, MAE Group, SVT GmbH, Frank Group and Setter Group.