GESCO AG

Earnings Release • Feb 25, 2002

News Details

Ad-hoc | 25 February 2002 08:46

GESCO AG english

GESCO AG: nine months figures Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– GESCO AG: nine months figures Wuppertal, 25 February 2002 – SMAX listed holding company, GESCO AG, has achieved the targets for its operating business in the first nine months (01.04.2001 – 31.12.2001) of financial year 2001/2002. Sales: EUR 109.6 million (EUR 107.9 million). Incoming orders: EUR 108.8 million (EUR 118.5 million). EBITDA: EUR 10.1 million (EUR 10.8 million). Independent of developments in its operating business, at the end of 2001 the company carried out special writedowns on securities held as fixed assets amounting to EUR 2.4 million in order to make use of tax advantages arising from writedowns on holdings in joint stock companies, which ceased to apply after 1 January 2002. These writedowns are offset by considerable tax credits which directly impact on liquid funds. Group net income: EUR 1.8 million (EUR 3.1 million). DVFA/SG earnings per share: EUR 1.04 (EUR 1.21). DVFA/SG cash flow: EUR 9.4 million (EUR 7.2 million). For the operating business, GESCO still considers the targets for the year as a whole to be achievable. However, as a result of the writedowns on securities and other special effects already reported, the Group net income for the year is likely to be some 20% below the original forecast with the DVFA/SG earnings down by around 7%. The special writedowns will affect the results for this financial year, but will have no long term impact on the GESCO Group’s sustained earnings power. GESCO AG is continuing its shareholder-friendly dividend policy. The dividend is set to be at least equal to the level of the previous year of EUR 0.72 per share. Download the full interim report from http://www.gesco.de. Investor Relations, Oliver Vollbrecht Tel. ++ 49 2 02 2 48 20 18, Fax ++ 49 2 02 2 48 20 49 e-mail: gesco@gesco.de, Website: http://www.gesco.de end of ad-hoc-announcement (c)DGAP 25.02.2002 ——————————————————————————– WKN: 587590; ISIN: DE0005875900; Index: SDax Listed: Amtlicher Handel in Düsseldorf, Frankfurt (SMAX); Freiverkehr in Berlin, Hamburg, München, Stuttgart 250846 Feb 02