GESCO SE / DE000A1K0201

GESCO SE publishes half-year report 2024

GESCO SE / Key word(s): Half Year Report/Half Year Results


13.08.2024 / 07:30 CET/CEST
The issuer is solely responsible for the content of this announcement.

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Subdued demand leads to decline in sales and earnings No recovery in demand expected in the second half of the year Increase in earnings expected in the second half of the year due to projects 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  

Key figures of the GESCO Group (IFRS)	in	01/01/2024 - 06/30/2024	01/01/2023 - 06/30/2023	Change (in %)
Incoming orders	T€	275,500	288,785	-4.6%
Sales	T€	252,845	292,135	-13.4%
EBITDA	T€	15,678	31,688	-50.5%
EBIT	T€	6,568	22,844	-71.2%
EBIT margin	%	2.6%	7.8%	-522 bp
EBT	T€	4,082	21,245	-80.8%
Group earnings1)	T€	2,019	14,303	-85.9%
Earnings per share	€	0.19	1.32	-85.6%
Closing price 2)	€	16.65	24.40	-31.8%
Employees3)	Quantity	1,869	1,889	-1,1%

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
Head of Investor Relations
Phone [phone]
Fax [phone]
E-mail: [e-mail]
Internet: www.gesco.de

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13.08.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
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Language:	English
Company:	GESCO SE
	Johannisberg 7
	42103 Wuppertal
	Germany
Phone:	[phone]
Fax:	[phone]
E-mail:	[e-mail]
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

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1966233  13.08.2024 CET/CEST