GESCO SE Reports Mixed Results for First Quarter of 2024

GESCO SE, a prominent industrial group, released its three-month earnings report for 2024. Despite a cautious start to the year and mixed subsidiary performance, the company sees a modest uptick in incoming orders.

Operating in a challenging economic environment marked by sector-specific downturns and global instability, GESCO SE's financial outcomes reflect these conditions with a decline in several key financial metrics compared to the previous year. Notably, there is a 9.7% decrease in incoming orders and a significant reduction in EBIT and net income, highlighting the tough operating conditions.

However, the company remains optimistic about the second half of the year, expecting an improvement in economic activities. This is supported by a slight recovery in order intake in all segments, rising by 14.5% compared to sales. The executive board maintains its revenue forecast for 2024, projecting sales between €570 million and €590 million and group earnings from €26 million to €28 million.