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Gesco separates from six companies

Gesco sells six daughters. These are four companies in the Mobility Technology segment as well as Frank Walz- und Schmiedetechnik and C.F.K. CNC manufacturing technology Kriftel. The buyer is a fund from Evoco (Zurich).

The selling price is 27 million euros, and debts and pension obligations amounting to 28 million euros will be assumed by the buyer. The net inflow of funds amounts to 15 million euros. This will reduce debts at Gesco, but the money will also be used for acquisitions.

In 2020, the subsidiaries that have now been sold should generate sales of around 90 million euros. The EBIT should amount to -15 million euros.

Gesco expects sales of around 400 million euros from the continued activities in 2020, the old forecast was more than 450 million euros, but also included the areas that have now been sold. The profit should be around 5 million euros, previously it was assumed that the result would be at least balanced.

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