GESCO AG : Estimates raised due to upbeat guidance, but TP lowered due to riskier macro environment
>Final 2017-18 figures and new CEO presented at Capital Markets Day - At its CMD on 28 June GESCO confirmed its preliminary figures for the fiscal year ending 31 March 2018 (2017-18). Sales reached € 547.2m (+13.4% yoy or +6.6% yoy excluding the newly consolidated Pickhardt & Gerlach (PGW)). Net income was € 16.1m, also in line with the preliminary figure and with the latest guidance issued on 4 May (~€ 16m). GESCO booked a provision of € 8.5m related to the antitrust...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.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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