GESCO SE Announces Positive Financial Results and Optimistic Outlook for 2024

GESCO SE, a Prime Standard-listed industrial group known for leading the market and technology within the medium-sized enterprise sector, confirmed its 2023 financial year results. The company reported substantial sales amounting to €560.7 million and an operating EBIT of €35.9 million. This marks a significant performance with Group net earnings after minority interest reaching €25.6 million, notwithstanding non-cash impairment losses totaling €5.1 million.

In recognition of these solid results, GESCO SE has introduced measures to share its success with shareholders. This includes proposing a dividend of €0.40 per share at the upcoming Annual General Meeting and launching a share buyback programme. The company aims to repurchase up to 500,000 shares at €17.80 each. This strategic move highlights the company's commitment to delivering shareholder value.

Looking ahead, GESCO SE is optimistic about the financial year 2024. The company projects sales to rise to between €570 million and €590 million and anticipates Group net earnings after minority interests to be in the range of €26 million to €28 million. This positive outlook reflects the company's confidence in its ongoing growth and profitability.

The comprehensive details of the 2023 annual report are accessible through the GESCO SE website, offering further insights into the company's financial health and strategic direction.