DGAP-News: Gesco AG / Key word(s): Half Year Report/Half Year Results
GESCO AG, an industrial group of medium-sized market- and technology-leading companies listed in the Prime Standard, reports on a pleasing first half-year in its 2022 half-year report published today.
All key financial indicators improved significantly compared to the same period in the previous year. Order intake (H1/2022: € 318.7 million; H1/2021: € 274.5 million) and sales (H1/2022: € 291.4 million; H1/2021: € 228.1 million) increased by 16% and 28% respectively compared to the same period last year. The continued positive book-to-bill ratio of around 1.09 is evidence of the good demand in H1/2022. Consolidated net earnings rose disproportionately to more than double (H1/2022: € 16.8 million; H1/2021: € 8.2 million).
The main drivers in the first half of 2022 are the more visible progress made in the subsidiaries through the Excellence Programmes and the prompt and consistent passing on of the in part considerable increases in the cost of materials and energy. The GESCO subsidiaries reacted early, particularly in the situation of unstable supply chains, and were able to implement the good order situation. Delivery reliability has the highest priority in today's production processes and thus the close monitoring of supply chains in order to be able to react quickly. The stockpiling strategy was adapted to the respective situation in order to fulfil the orders and ensure the ability to deliver.
Outlook 2022: Sales and Group earnings expected at the upper end of the range
GESCO AG has started the second half of the year with a good first half behind it and is therefore still on track to achieve the communicated targets for the current financial year.
The challenges that already accompanied GESCO in the first half of the year are still present. The supply situation is being closely monitored, both in terms of supply chains and energy. The GESCO companies support efforts to save energy as best they can. Like almost every other company, GESCO Group subsidiaries are all part of supply chains. If there are disruptions due to energy shortages, for example, this can also affect companies that are actually coping well with the supply situation. Nevertheless, the effects of an energy bottleneck are very difficult to estimate and therefore the dynamics of the current situation do not allow any more precise statements regarding the possible extent on the subsidiaries.
Despite these challenging conditions, the Executive Board of GESCO AG remains confident about the current financial year. The outlook for 2022 as a whole is therefore confirmed and specified to the effect that Group sales (€ 565 to 585 million) and Group earnings (€ 28.0 to 30.5 million) are now expected to reach the upper range. This forecast does not take into account planned acquisitions.
The complete 2022 semi-annual report is available at www.gesco.de/en/investor-relations/financial-reports.
1) After minority interests. 2) XETRA closing price on the balance sheet date. 3) Number as at the balance sheet date
GESCO AG is an industrial group with market and technology leading companies in the capital goods industry with a focus on process technology, resource technology as well as healthcare and infrastructure technology. As a company listed in the Prime Standard, GESCO AG gives private and institutional investors access to a portfolio of hidden champions of the German industrial SME sector.
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12.08.2022 CET/CEST Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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