Brief: Gesco Closes Mobility Technology Segment, Undertakes Portfolio Adjustment, Renews Outlook For FY 2020

Gesco SE

21/12/2020 20:42

Dec 21 (Reuters) - Gesco AG  GSC1n.DE :
    * DGAP-ADHOC: GESCO AG CLOSES MOBILITY TECHNOLOGY SEGMENT, 
UNDERTAKES LARGEST PORTFOLIO ADJUSTMENT IN COMPANY HISTORY AND
RENEWS OUTLOOK FOR FINANCIAL YEAR 2020
    * BASED ON FIGURES FOR FINANCIAL YEAR 2020, GESCO DISPOSES
OF
ROUGHLY EUR 90 MILLION IN SALES AND SOME EUR -15 MILLION IN
GROUP EBIT
    * PURCHASE PRICE AMOUNTS TO EUR 27 MILLION AND IS
ACCOMPANIED BY A
NET CASH INFLOW OF EUR 15 MILLION
    * IN ADDITION, BUYER ASSUMES NET LIABILITIES, PENSION
OBLIGATIONS
AND LEASE LIABILITIES OF IN TOTAL APPROXIMATELY EUR 28 MILLION
    * GESCO- TAKING INTO ACCOUNT TRANSACTION AND
BETTER-THAN-EXPECTED
OPERATING BUSINESS, OUTLOOK FOR CONTINUING OPERATIONS FOR 2020
HAS BEEN RENEWED
    * EXECUTIVE BOARD NOW EXPECTS GROUP SALES OF APPROXIMATELY
EUR 400
MILLION FOR YEAR
    * EXPECTS GROUP NET INCOME FOR YEAR AFTER MINORITY INTEREST
FROM
CONTINUING OPERATIONS OF ROUGHLY EUR 5 MILLION

Source text for Eikon:  ID:nEQ34TGD3a 
Further company coverage:  GSC1n.DE 

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