GESCO SE Reports Decline in 2024 Nine-Month Financial Results

GESCO SE, an industrial group known for its medium-sized market and technology leaders, published its financial results for the first three quarters of 2024. The company recorded a 4.0% decrease in incoming orders, totaling €400.6 million, with sales at €382.9 million, reflecting a weak demand in the investment and mechanical engineering sectors. The group's book-to-bill ratio was 1.05, indicating higher incoming orders relative to sales.

The company's EBITDA fell notably from €44.5 million to €26.5 million. EBIT for the period decreased to €9.2 million from €28.8 million in 2023. Group earnings dropped to €5.4 million, compared to €19.6 million in the previous year. Earnings per share also declined from €1.80 to €0.51.

CEO Johannes Pfeffer noted challenges in the current business performance but expressed confidence in emerging stronger from the ongoing economic conditions. He highlighted the potential growth in both existing and new markets.