GESCO AG

EANS-Adhoc: GESCO records strong growth in 2010/2011 and plans to drive business further in the new financial year

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  ad-hoc disclosure pursuant to section 15 of the WpHG transmitted by euro
  adhoc with the aim of a Europe-wide distribution. The issuer is solely
  responsible for the content of this announcement.
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07.06.2011

Wuppertal, 7 June 2011 - The SDAX-listed investment holding company GESCO AG will be reporting on an exceptionally positive financial year 2010/2011 (1 April 2010 to 31 March 2011) at today´s accounts press conference and forecast further growth in the new financial year 2011/2012.

In financial year 2010/2011, GESCO AG profited from the economic upturn on a broad scale. Incoming orders recovered suddenly in the first quarter, then continued rising each subsequent quarter. Incoming orders were also higher than sales in each quarter and the book-to-bill ratio was above 1. In total, incoming orders rose by 74.7 % to EUR 377.2 million (previous year EUR 215.9 million). Order backlog went up 45.3 % to EUR 131.8 million during the course of financial year 2010/2011 (EUR 90.7 million).

As most of GESCO Group´s companies produce products with long throughput times, Group sales went up by 20.7 %, which is lower than incoming orders, from EUR 277.7 million in the previous year to EUR 335.2 million. Thanks to an improved capacity utilisation and the resulting economy of scales, earnings before interest, taxes, depreciation and amortisation (EBITDA) rose by 40.6 % to EUR 38.2 million (EUR 27.2 million), considerably higher than sales. At 63.7 %, earnings before interest and taxes (EBIT) climbed even higher than EBITDA, reaching EUR 27.0 million (EUR 16.5 million). Group net income after minority interest shot up by 71.4 % to EUR 15.3 million (EUR 8.9 million). This corresponds to earnings per share of EUR 5.05 pursuant to IFRS (EUR 2.95).

GESCO Group is planning to drive business further in the new financial year 2011/2012 (1 April 2011 to 31 March 2012). The Executive Board expects Group sales of EUR 390 million and Group net income after minority interest of EUR 19 million, corresponding to earnings per share pursuant to IFRS of EUR 6.29. Around EUR 20 million in investments will be used for driving the further sustainable growth of the Group.

This optimistic forecast is also based on the continuing lively development in the first quarter of the new financial year 2011/2012, which includes the subsidiaries´ operating business from January to March. Incoming orders rose to EUR 115.9 million, 32.0 % up on EUR 87.8 million in the previous year´s quarter. Sales increased by 29.9 % to EUR 99.7 million (EUR 76.8 million). Incoming order were therefore higher than sales again in the first quarter of the new financial year - this is a sign of growth.

The company will present the accounts for financial year 2010/2011 and the outlook for financial year 2011/2012 at the accounts press conference / analysts´ conference on 7 June 2011 at 10.30 hrs.

The comprehensive press release, the annual report and a video commentary on the accounts will be available at www.gesco.de from 7 June 2011, 8.00 hrs.

A webcast of the accounts press conference / analysts´ conference (in German) will be accessible from 10.30 hrs on via www.gesco.de and will be available for twelve months.

Investor Relations / Public Relations • Oliver Vollbrecht Phone: +49 (0)202 24820 18 • Fax: +49 (0)202 24820 - 49 E-mail: info@gesco.de • Internet: www.gesco.de

end of announcement                               euro adhoc
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issuer:      GESCO AG
          Johannisberg 7
          D-42103 Wuppertal
phone:       +49(0)202 24820 0
FAX:         +49(0)202 24820 49
mail:     info@gesco.de
WWW:      http://www.gesco.de
sector:      Economy, Business & Finance
ISIN:        DE0005875900
indexes:     SDAX, Classic All Share, Prime All Share
stockmarkets: regulated dealing/prime standard: Frankfurt, free trade: Berlin,
          Hamburg, Stuttgart, Düsseldorf, München
language: English 

Contact:

Oliver Vollbrecht
Leiter Investor Relations
T.: +49(0)202 24820 18
info@gesco.de

Branche: Economy, Business & Finance
ISIN: DE0005875900
WKN: 587590
Index: SDAX, Classic All Share, Prime All Share
Börsen: Frankfurt / regulated dealing/prime standard
Berlin / free trade
Hamburg / free trade
Stuttgart / free trade
Düsseldorf / free trade
München / free trade


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