- Most successful fiscal year in the Company's history
- Sales of € 488 million with consolidated net income of € 26.9 million

According to preliminary, as yet unaudited figures, GESCO AG, which is listed in the Prime Standard, significantly exceeded its expectations for the continuing operations in terms of sales and, above all, earnings in the financial year 2021 (1 January 2021 to 31 December 2021), as last raised in November 2021.

After the already very satisfactory performance in the first nine months of 2021, in November 2021 the GESCO AG Executive Board had forecast Group sales at the upper end of the range of € 465 to 485 million and Group net income after minority interests in the range of € 22 to 24 million for the financial year 2021. Despite a continued challenging environment, Group sales in 2021 ultimately increased by 23% to €488 million (previous year: €397 million). The consolidated net income for the year rose disproportionately to the sales to € 26.9 million (+ 361% compared to the previous year with € 5.8 million).

The decisive factors for the very good result in the fourth quarter were the realisation of projects despite the supply bottlenecks and the positive effect of the profit and loss transfer agreement with Setter on the tax rate. In addition, the subsidiaries succeeded in compensating for the considerable price increases in materials through forward-looking price adjustments.

The significant improvement in the Group's key figures in 2021 is mainly due to the progress made in the subsidiaries, not least as a result of the Excellence Programmes introduced, which have now had a visible effect.

Earnings per share from continuing operations amount to €2.48 (2020: €0.54).

The dividend payment for the 2021 financial year will be resumed within the framework of the existing dividend policy. The Company will provide information on the amount of the dividend, which will be proposed by the administration to the upcoming Annual General Meeting in August 2022, on the occasion of the publication of the 2021 financial statements.

The Company will publish the financial statements for the 2021 financial year and a concrete outlook for the new 2022 financial year at the virtual press conference on financial statements on 21 April 2022 on its website at https://www.gesco.de/en/investor-relations/financial-reports.

Contakt:

Peter Alex
Head of Investor Relations & Communications

Phone +49 (0) 202 24820-18
Fax +49 (0) 202 24820-49
E-Mail: [email protected]
Internet: www.gesco.de