German Startups Group GmbH & Co KGaA (GSJ); expects a more than 30% year-on-year revenue growth of its majority-held Exozet in H119

Published on 14-06-2019 10:55:00
Author Michal Mordel

German Startups announced today that the company’s majority holding, Exozet, expects a more than a 30% year-on-year increase in its revenues in H119. German Startups states that Exozet’s order situation in H219 is very good as well.

German Startups has invested in Exozet several tranches so far, especially between the years 2014 and 2015. The company highlights that it is still considering the sale of its 50.7% stake in Exozet in FY19, but has not disclosed any details of the possible transaction yet. GSG conducted negotiations on the potential sale of the company in 2018, which were planned to deliver low single-digit million-euro cash inflow and around €1m in revaluation gain, but the deal hasn’t been struck.

In addition, the company has extended the term of its public share repurchase offer until 8 July 2019. GSG can repurchase up to 300k shares (2.6% of shares in issue) at €1.50 per share, a 3.4% premium to yesterday’s close.

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