Brief: Gesco FY Net Income At EUR 12.4 Million

Gesco SE

30/03/2020 14:14

March 30 (Reuters) - GESCO AG  GSC1n.DE :
    * PUBLISHES PRELIMINARY FIGURES FOR ABBREVIATED FINANCIAL
YEAR
2019, DIVIDEND PROPOSAL AND NEW DIVIDEND  POLICY
    * AT EUR 439.6 MILLION, FY GROUP SALES WERE SLIGHTLY ABOVE
FORECAST RANGE OF EUR 425 TO 435 MILLION.
    * AT EUR 12.4 MILLION, FY GROUP NET INCOME AFTER MINORITY
INTEREST
WAS IN MIDDLE OF COMMUNICATED RANGE OF EUR 11.5 TO 13 MILLION.
    * IN TWELVE-MONTH PERIOD OF PREVIOUS YEAR, FIGURES FOR WHICH
WERE
ADJUSTED IN ACCORDANCE WITH IAS 8, SALES AMOUNTED TO EUR 580.3
MILLION AND GROUP NET INCOME AFTER MINORITY INTEREST TO EUR 22.6
MILLION
    * DECIDED TO ADJUST GESCO AG'S DIVIDEND POLICY
    * IN FUTURE, DISTRIBUTION IS TO BE IN A RANGE OF 20 % TO 60
%
    * INTENDS TO BRING FORWARD APPLICATION OF NEW DIVIDEND
STRATEGY
AND TO PLACE DISTRIBUTION FOR ABBREVIATED FINANCIAL YEAR 2019 AT
LOWER END OF RANGE IN ORDER TO STRENGTHEN COMPANY'S LIQUIDITY
RESERVES
    * CURRENTLY EXPECTS TO PROPOSE A DIVIDEND OF EUR 0.23 PER
SHARE
FOR NINE-MONTH ABBREVIATED FINANCIAL YEAR 2019
    * COMPANY RESERVES RIGHT TO ADJUST DIVIDEND PROPOSAL FOR
ABBREVIATED FINANCIAL YEAR 2019 IN VIEW OF FURTHER DEVELOPMENT
OF CORONA CRISIS
    * CURRENTLY ASSUMES THAT ANNUAL GENERAL MEETING CAN BE HELD
ON
JUNE 18, 2020 AS PLANNED

Source text for Eikon:  ID:nEQ3zRvy3a 
Further company coverage:  GSC1n.DE 

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