GESCO SE Announces Dividend Proposal Following Steady Fiscal Year Performance

GESCO SE, a key player in the industrial sector, has disclosed its dividend proposal based on the preliminary financial results for the fiscal year 2023. In what has been described as a challenging macroeconomic landscape, GESCO has managed to meet its forecast, showcasing operational resilience across its subsidiaries.

With group sales reaching €560.7 million, closely aligning with the projected range of €555 to €575 million, it marks a slight decrease from the previous year's €582.3 million. Group net earnings were reported at €20.9 million, fitting within the anticipated range of €19.5 to €21.5 million, albeit lower than 2022's €33.8 million, inclusive of €5.1 million in non-cash impairment losses due to tough conditions in the construction industry affecting subsidiaries AstroPlast and Franz Funke.

Earnings per share stood at €1.93, compared to €3.12 in the year prior. The management has proposed a dividend of €0.40 per dividend-bearing share, maintaining its commitment to shareholder return. The upcoming Annual General Meeting is scheduled to be held at the SANAA building, Essen, on May 29, 2024.

Further details and the final figures for 2023 will be made available on April 11, 2024, on the GESCO website, followed by an annual accounts press conference that will elaborate on the past financial year and provide insights into the outlook for the current financial year.