Annual General Meeting 2022

1. N E X T L E V E L
In Leadership
Annual General Meeting
Business year 2021
Wuppertal, 24 August 2022

2. 2
GESCO
AG
–
AGM
–
24
August
2022
SLOGAN
... in one share, that is GESCO
Technology-driven German SMEs
Hidden Champions

3. GESCO
AG
–
AGM
–
24
August
2022
S & S Stainless
Steel Technology
Biogas for households
+166%
Result since 2018
+48%
Sales since 2018
+30%
Efficiency since 2018
5
Continents
+85%
Sales pressure
pipes since 2018
36
Countries
CANVAS - BIOGAS UPGRADED THROUGH
FILTRATION PLANTS – REDUCES
DEPENDENCE ON GAS IMPORTS
DEVELOPMENT PARTNER FOR HIGH-END
PLANTS - PHARMACEUTICALS, CHEMICALS
AND WATER
WORLD MARKET LEADER FOR HIGH-
PRESSURE PIPES FOR THE FILTRATION OF
LIQUIDS AND GASES
STAINLESS STEEL COMPETENCE COMBINED
INEX - SOLUTIONS GMBH
CANVAS 2019
OPEX 2019

4. GESCO
AG
–
Hauptversammlung
24.
August
2022
HUBL
Stainless Steel
Technology
Wafers for the world
CANVAS 2019
OPEX 2019
CANVAS - FOKUS WORLDWIDE GROWTH OF
WAFER PRODUCTION PLANTS
CANVAS - WORLD MARKET LEADER FOR
BIOTECH CONTAINERS
POSITIONING AS A STRATEGIC PARTNER FOR
PLANT DEVELOPMENTS
OPEX - WORKSHOP PRODUCTION
TRANSFERRED TO SERIES PRODUCTION
STAINLESS STEEL COMPETENCE COMBINED
INEX - SOLUTIONS GMBH
+100%
Result since 2018
+50%
Sales since 2018
+25%
Efficiency since 2018
+60%
Facilities since 2018
200
plants/ p. a.
+68%
Container

5. 5
GESCO
AG
–
AGM
–
24
August
2022
Pickhardt &
Gerlach
we drive the change
CANVAS 2019
MAPEX 2020
OPEX 2021
MAPEX - COFIN® BRAKE LINE TAPE FOR
E-MOBILITY ESTABLISHED AS
SERIES PRODUCTION
MAPEX - EMONI ® WITH 99.9% EFFICIENCY
FOR BATTERY TECHNOLOGY IN THE MARKET
SUCCESSFUL
OPEX - PROJECT STARTED IN 11/21,
POTENTIAL ALREADY IDENTIFIED
ELECTROMOBILITY MOVES US FORWARD
1500 t
Brake lines COFIN®
72%
Global EMS
-80 kg
CO2 /t (EMONI® )
+45%
Result since 2018
+36%
Sales since 2018
+24%
Efficiency since 2018

6. GESCO
AG
–
AGM
–
24
August
2022
SVT
Loading Your Values
Focus on hydrogen
CANVAS 2021
OPEX 2021
CANVAS - SUPPORTING THE ENERGY
TRANSITION - SOLUTIONS FOR HYDROGEN,
LNG, CNG
PORTFOLIO EXPANSION FOR NEW MEDIA
AND TECHNOLOGIES
ASIA HUB ESTABLISHED IN SINGAPORE
OPEX - ANALYSES COMPLETED –
MEASURES BEING IMPLEMENTED
WORLD MARKET LEADER FOR
LNG LOADING ARMS
70
Countries
2.300
Ship loading arms
supplied
+473%
LNG sales since
2018
+29%
Result since 2018
+40%
Sales since 2018
+25%
Efficiency since 2018

7. 7
GESCO
AG
–
AGM
–
24
August
2022
CANVAS 2021
OPEX 2022
RESPONSIBILITY FOR THE FUTURE: PAPER
REPLACES PLASTIC - NEW ALTERNATIVES
FROM WASTE AND SUGAR CANE PAPER
INNOVATIONS CREATE NEW PRODUCTS:
COTTON WOOL, LOLLIPOPS, STIRRERS
 EXPERTISE AROUND THE GLOBE
CANVAS - FURTHER INTERNATIONALISATION
WITH PROXIMITY TO THE CUSTOMER
OPEX - ANALYSES COMPLETED AND
IMPLEMENTATION STARTED
25.000 t
plastic avoided by
SETTER
0%
Chemical additives
+70%
Sales since 2018
80%
Global sales
+50%
Result since 2018
160 bn pcs
cotton buds world /p.a.
Setter Group
Sustainability for the
world market!

8. 8
GESCO
AG
–
AGM
–
24
August
2022
THE STRATEGY
... € 1 billion SALES at 10% EBIT
I 3 anchor & 12 basic participations
I Business model know-how
I Methodological competence
I SE - Conversion
I ESG - Sustainability
HIDDEN - CHAMPIONS
EXCELLENCE PROGRAMS
CANVAS I
MAPEX I
OPEX I
LEADEX I
DIGITEX I
PORTFOLIO - ARCHITECTURE
M & A
I Grow inorganically
I Buy & build programme
I Portfolio roadmap
I Direct approaches &
expand network

9. 9
GESCO
AG
–
AGM
–
24
August
2022
PORTFOLIO ARCHITECTURE - ROADMAP I
... 9 transactions in 3 years
PRODUCTION PROCESS RESOURCES
HEALTH &
INFRASTRUCTURE
MOBILITY
PROCESS
INEX -
solutions
UMT
9

10. 10
GESCO
AG
–
AGM
–
24
August
2022
PORTFOLIO ARCHITECTURE - ROADMAP II to `25
... on course - NEXT LEVEL 25
ACHOR Sales > € 100 m BASIC Sales Ø 40 - 50 m €
10

11. 11
GESCO
AG
–
AGM
–
24
August
2022
THE STRATEGY
... € 1 billion SALES at 10% EBIT
I 3 anchor & 12 basic participations
I Business model know-how
I Methodological competence
I SE - Conversion
I ESG - Sustainability
HIDDEN - CHAMPIONS
EXCELLENCE PROGRAMS
CANVAS I
MAPEX I
OPEX I
LEADEX I
DIGITEX I
PORTFOLIO - ARCHITECTURE
M & A
I Grow inorganically
I Buy & build programme
I Portfolio roadmap
I Direct approaches &
expand network

12. 12
GESCO
AG
–
AGM
–
24
August
2022
EXCELLENCE PROGRAMS
EX
digit
Market & Product Excellence MAPEX
Analysis of customer needs, product
offerings, customer channels and
relationships; new ideas for product portfolio
and market positioning
Expand market share,
address new market segments
and develop product innovations
Leadership Excellence LEADEX
Sharpening leadership skills and
strengthening attractiveness as an employer
in a dynamic environment
Develop leaders, strengthen
corporate culture and create
high-performance teams
OPEX Operational Excellence
Analysis of the company and value creation
processes, especially in quality, lead time and
delivery performance as well as cost structures
Increase efficiency and thus margins
CANVAS Business Model Analysis
Workshops for holistic analysis of the
business models – derivation of next steps –
processing of results in annual business
planning
Consolidate common understanding in the
management team, identify development
potential and fix measures

13. GESCO
AG
–
Hauptversammlung
24.
August
2022
13
LEADEX
► Leadership Excellence means continuous
development of leadership skills
► Requirements for good and successful leadership
change with age structures
► LEADEX offers first and second level managers a
broad and modern basis consisting of 3 modules:
Tools, Teams and High Performance Teams
► The Teams module provides Know-how on different
personality types and promotes goal-oriented
interaction in organisations.
► the Tools module offers the basics of modern
leadership and efficient application
► with high-performance teams, we offer a module for
building particularly high-performing teams

14. 14
GESCO
AG
–
AGM
–
24
August
2022
KEY FIGURES
FY 2021 FY 2020 Delta
in € m (continued) (continued) in %
Incoming orders 544.5 407.1 33.8%
Group sales 488.1 397.2 22.9%
EBITDA 62.2 33.4 86.4%
EBIT 44.6 16.7 167.0%
EBIT margin (in %) 9.1 4.2 117.3%
Group annual result1)
26.9 5.8 363.8%
Earnings per share (in €)1)
2.48 0.54 359.3%
Workforce (number as of 31.12.) 1,783 1,695 5.2%
1) After minority interests
→ Sales and incoming orders above previous year - and above calendar year 2019
→ Cost of materials and personnel ratios down on previous year
→ EBIT margin in the target corridor 8-10%
→ Tax optimisation through restructuring at Setter and P&L transfer agreement
→ Record consolidated net income after minority interests
Production
Process
Technology
Resource
technology
Health
& Infrastructure
Technology

15. 15
GESCO
AG
–
AGM
–
24
August
2022
125,2
91,8
68,6
68,2
255,7
(56,9%)
227,8
(58,3%)
31.12.2021 31.12.2020
Liabilities (in € million)
Equity
Long-term debt
Current liabilities
Liabilities to
assets held for
sale
8,0
57,7 49,2
77,4 64,9
124,8
108,9
189,6
159,8
31.12.2021 31.12.2020
Assets (in € million)
Non-current assets
Inventories
Receivables and
other assets
Cash and cash
equivalents
Assets held for sale
BALANCE SHEET
... solid balance sheet with high equity ratio
449,5
390,8
390,8
449,5
3,0

16. 16
GESCO
AG
–
AGM
–
24
August
2022
SHARE PRICE DEVELOPMENT 2021
-5%
0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
01.01.2021 01.03.2021 01.05.2021 01.07.2021 01.09.2021 01.11.2021
Quelle: Bloomberg
04/27/2021
Annual
report 2020
published
06/16/2021
Purchase
UMT
11/18/2021
Forecast
raised again

17. 17
GESCO
AG
–
AGM
–
24
August
2022
SHARE PRICE DEVELOPMENT 2022
Quelle: Bloomberg
-35%
-30%
-25%
-20%
-15%
-10%
-5%
0%
5%
10%
15%
01.01.2022 01.02.2022 01.03.2022 01.04.2022 01.05.2022 01.06.2022 01.07.2022 01.08.2022
05/13/2022
GESCO: very
good Q1/2022
03/09/2022
GESCO with
preliminary
figures for 2021
08/12/2022
GESCO: Forecast
raised

18. 18
GESCO
AG
–
AGM
–
24
August
2022
DIVIDEND 2021
Dividend policy
Distribution within the range of 20% to 60% of the
Consolidated net income after minority interests
0,83 €
0,73 €
0,58 €
0,67 €
0,35 €
0,60 €
0,90 €
0,23 €
0,98 €
3,3%
2,9%
2,3%
2,7%
1,4%
2,1%
3,9%
1,2%
3,8%
0,0%
0,5%
1,0%
1,5%
2,0%
2,5%
3,0%
3,5%
4,0%
4,5%
2012/2013 2013/2014 2014/2015 2015/2016 2016/2017 2017/2018 2018/2019 2019 2020 2021 2022
0,00 €
0,20 €
0,40 €
0,60 €
0,80 €
1,00 €
Dividend
Yield*
Dividend
* Dividend yield calculation: Dividend for the financial year/XETRA closing price at the end of the financial year

19. 19
GESCO
AG
–
AGM
–
24
August
2022
GESCO SHARE
...with potential
Free float
(according to the definition
of Deutsche Börse)
67.3%
Investmentaktiengesellschaft für
langfristige Investoren TGV
18.5%
Baden-Württembergische
Versorgungsanstalt für Ärzte,
Zahnärzte und Tierärzte
3.3%
LGT Capital Partners Ltd.
3.0%
Other instituional investors
31.1%
Retail investors
29.9%
Stefan Heimöller
14.2%
ISIN DE000A1K0201
WKN A1K020
Stock exchange symbol GSC1
Share capital (current) 10.839.499 €
Number of shares (current) 10.839.499
IPO 24.03.1998
Transparency standard Prime Standard
Share price at 08/19/2022 26.20 €
Market capitalisation 284.0 m €
Free float (current) 67,3%
Research/Coverage GSC Research (Buy: € 47.00)
Pareto Securities (Buy: € 38.00)
SMC Research (Buy: € 49.00)
Warburg Research (Buy: € 34.00)
Consensus: Buy: € 42.00
Indices CDAX Total Index
Prime All Shares
Prime Industrial
Prime Industrial Diversified
Classic All Share

20. 20
GESCO
AG
–
AGM
–
24
August
2022
 Incoming orders and sales above previous year
 Personnel expense ratio at a low with 21 %
 Tax rate down to 31% due to tax optimisation measures
in Mio. € H1/2022 H1/20212)
Delta in %
Incoming orders 318.7 274.5 16.1%
Group sales 291.4 228.1 27.7%
EBITDA 34.8 23.4 48.8%
EBIT 25.9 15.2 69.8%
EBIT-Margin (in %) 8.9% 6.7% 220 bp
Group earnings1)
16.8 8.2 104.2%
Earnings per share (in €)1)
1.6 0.76 103.9%
Employees (at 06/30) 1,816 1,744 4.1%
1) After minorities 2) continued
KEY FIGURES H1/2022
Process
Technology
Ressources
Technology
Health &
Infrastructure
Technology

21. 21
GESCO
AG
–
AGM
–
24
August
2022
 Outlook before possible acquisitions
 Known effects from the Ukraine crisis have been processed - further
influences currently difficult to predict
 Reaching upper band increasingly likely
OUTLOOK 2022 - GROUP
Process
Technology
Ressources
Technology
Health &
Infrastructure
Technology
Sales
Consolidated net profit
after minority interests
565 - 585
28.0 – 30.5
488
26.9
Business year
2022 Outlook
Business year
2021
in € m

22. Thank you