GESCO virtual Annual General Meeting resolves dividend
of € 0.23 per share, Executive Board refines outlook for
the current financial year

Wuppertal, 18 June 2020 - Today's virtual Annual General Meeting of GESCO AG, a Prime Standard-listed company, voted on the dividend, the election of the Supervisory Board and a change to Supervisory Board remuneration, among other topics.

The Annual General Meeting resolved the dividend of € 0.23 per share announced on 30 March 2020 for the nine-month abbreviated financial year 2019. The company's four-person Supervisory Board was re-elected. The suggested revision of Supervisory Board remuneration was resolved in the form of an amendment to the Articles of Association and approved according to the Act Implementing the Second Shareholders' Rights Directive (ARUG II). Among other things, authorised capital up to a maximum of 10 % of share capital and authorisation to repurchase shares were also resolved. All points on the agenda were approved by a large majority.

At the Annual General Meeting, the Executive Board refined the outlook for the current 2020 financial year published at the annual press conference, which envisaged Group sales of € 540 to 560 million and Group net income after minority interest of € 8 to 11 million. Already when the forecast was published at the annual press conference, the company had emphasized that expectations could change significantly even in the short term in view of the dynamic development of the corona pandemic and its effects. In fact, the outlook has deteriorated further since then, particularly in the mechanical engineering and plant construction sectors and in the tool steel sector. Although processes within companies and customer-supplier relationships are on the road to normalization, global demand remains weak. From today's perspective, with a gradual return to normality the Management Board therefore now expects both sales and earnings to be at the lower end of the respective ranges.

The Executive Board stressed its conviction that the company's NEXT LEVEL strategy is the right approach. CEO Ralph Rumberg described the strategy as the "greatest transformation since the company was founded" adding that: "This process will take a number of years, and we will have to overcome obstacles. It is important that we have started the transformation very consistently, broadly and with high intensity. I regret that the coronavirus has slowed us somewhat - yet I am also very pleased that we did not lose any time last year, but instead emphatically launched and drove forward the programme. Corona clearly confirms that we are on the right path."

About GESCO
GESCO AG is an industrial group made up of market and technology leading companies in the capital goods industry with a focus on production process technology, resource technology, healthcare and infrastructure technology and mobility technology. As a stock company listed in the Prime Standard, GESCO AG offers private and institutional investors access to a portfolio of hidden champions among Germany's industrial SMEs.

Investor Relations - Oliver Vollbrecht
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