Gesco - Strategic portfolio transition in progress
GESCO continues to implement the NEXT LEVEL strategy it launched in autumn 2018 after onboarding the new CEO. After a strong FY18, the company’s recent results were affected by broader economic headwinds. Although incoming orders in Q119 increased 4.3% y-o-y to €156.9m, preliminary Q2 numbers reveal a decline to €130m from a record-high €162.6m in Q218. The trend seems to reflect the recent production slowdown in Germany, with the Mechanical Engineering Industry Association (VDMA) reducing its growth forecast for 2019 from + 1% to -2% in July 2019. Nevertheless, has GESCO reiterated its FY19 guidance.Gesco is a holding company. Co.through its subsidiaries is engaged in the strategic investment in small and medium-sized industrial companies. Co. provides financial and consulting services for its subsidiaries. Co. focuses its investment activities on companies engaged in tool manufacture, mechanical engineering and plastics production segments in Germany.
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