1. From melting steel to 3D-printing: investing in the technology-driven German “Mittelstand”
as at 23 December 2015

2. 1. Business model
GESCO Group – an association of industrial SMEs with market and technology leaders
Segments tool manufacture / mechanical engineering and plastics technology
Currently 17 operating subsidiaries under the roof of GESCO AG as a holding company
We think and act in a sustainable and entrepreneurial manner
We do business in established sectors with innovative technologies
We provide technology “made in Germany” for global markets
GESCO is comprised of adaptable, independent operating units that benefit from being part of a strong group
GESCO AG – a long term investor and a safe haven for succession issues
We acquire and develop industrial SMEs an a long-term basis – exit is not part of the business model
We take over majorities, almost always 100 %
Most takeovers are part of succession planning
The new managing directors invest up to 20 % in the company they run (“entrepreneur companies”) 2

3. 1. GESCO Group
The GESCO share offers a focussed portfolio of 17 “Hidden Champions” serving broadly diversified customer sectors 3% 5% 6%
12%
15%
25% 4%
Passenger and commercial vehicles
Other
Agricultural engineering
Machine and plant construction
Foundries and roller mills
Consumer goods industry
Iron, plate and metal processing,
tool construction
Energy
Chemical and petrochemical industry
Electrical, medical technology, household goods
Construction, air conditioning, sanitary industry 4% → 3

4. 1. The 4 biggest companies (sales and staff: FY 2014)
Dörrenberg Edelstahl GmbH
Leading European specialist for tool steel
Steel mill, trading, mould castings and surface technology
Strong internationalization
Sales € 172 m, staff 501
SVT GmbH
Systems for (un)loading liquids and gases
Specialty LNG: No. 2 worldwide
Export ratio: 80 %
Sales € 44 m, staff 182
MAE Maschinen- und Apparatebau Götzen GmbH
World market leader for straightening machines and wheel set presses
Highly innovative
Acquired US competitor in Jan. 2014
Sales € 25 m, staff 160
Frank Walz- und Schmiedetechnik Group
Europe‘s leading forge for wearparts for the agricultural industry
70 % of sales to OEMs, % to wholesale and farmers
Sales € 28 m, staff 274

5. 1. Two very special companies (sales and staff: FY 2014)
Setter Group
Paper and plastic sticks for the sweets and hygienic industries, world market leader for paper sticks
90 % export ratio
20 bn sticks produced in Germany each year
Acquired US-based Setterstix Inc. in Jan. 2015
Sales € 15 m, staff 59
C.F.K. CNC-Fertigungs- technik Kriftel GmbH
Leading centre in high- precision wire erosion and die sinking
Cutting-edge production line, 45 machines
Advanced laser melting systems (3D printing) for functional prototypes, medical implants etc.
Sales € 8 m, staff 57

6. 2. Financial year 2015/2016 Please keep in mind:
GESCO AG and GESCO Group financial year = 1 April to 31 March
Subsidiaries’ financial year = calendar year

7. 2. Financial year 2015/2016
Initial situation and expectations (as at annual accounts press conference on 25 June 2015)
Economic forecasts indicate growth (GDP:+2.1 %, VDMA: Increase in production +2 %, GKV: Sales +2.6 %)
Frank Walz- und Schmiedetechnik GmbH: continued weakness in the agricultural technology sector due to Russia/Ukraine etc.
SVT GmbH: low energy prices lead to restraint in investments of the oil industry  decreasing demand for SVT GmbH’s loading arms
Tool manufacturers are expecting decreases in results, partly due to cyclical effects
Restructuring measures at two companies continue to have a negative effect on earnings
Among others, Dörrenberg, Setter, Haseke and CFK are operating at a satisfactory level
Overall sales within the GESCO Group should increase organically, further inorganic growth will be contributed by Setterstix, but margins continue to be far too low

8. 2. Financial year 2015/2016 – H1 Where are we now? Situation after H1
Comprises operating business of subsidiaries from Jan. to June 2015
Order intake and sales increased
Setterstix provides external growth
Earnings grew even stronger, especially due to:
operating improvements
restructuring activities at 2 subsidiaries proceeding 8

9. 2. Financial year 2015/2016 – H1 (Jan. to June 2015 at subsidiaries)
Satisfactory customer demand H1
2014/2015
2015/2016
Change
Order intake
€ m
226.6
258.1
13.9%
Sales
220.1
237.3
7.8%
EBITDA
20.1
26.1
30.2%
EBIT
10.8
16.0
48.5%
Group net income after minority interest
5.5
7.9
44.8%
EPS acc. to IFRS €
1.65
2.39
Equity
182.8
184.8
1.1%
Equity ratio %
45.3
42.3 -
Liquid funds
35.3
27.2
-22.9%
Organic: +11.2%
Organic: +5.0%
Operating improvements,
restructuring activities proceeding
Strong balance sheet, room for growth
€ 5.8 m dividend paid out in Q2

10. 2. Financial year 2015/2016 – Q3 (July to Sept. 2015 at subsidiaries)
How are we proceeding? Stable business development in Q3 with growth yoy.
Order intake
Group sales
 € 120 m
 € 130 m
€ m
€ m
+5.8%
+10.4%
Q3 2014/2015
Q3 2015/2016
Q3 2014/2015
Q3 2015/2016

11. 2. Financial year 2015/2016 Within GESCO Group 
Where do we go from here? General current situation: a mixed picture.
Already in July, VDMA cut outlook from +2% to zero growth
Oil and chemical industry still hesitant to invest
Declining demand from China
due to decreasing growth
Many profit warnings on the stock market
Within GESCO Group 
No indication of a significant, widespread decline in demand
But no notable growth impetus either
We expect demand to dip slightly in Q4 11

12. 2. Financial year 2015/2016 – Outlook
Target figures for Group sales.
confirmed
€ 490 m to € 480 m
€ 490 m to € 480 m
+8.5%
€ 451 m
+6.3%
2014/2015
Actual
2015/2016
Guidance June 2015
2015/2016
Guidance Nov. 2015

13. 2. Financial year 2015/2016 – Outlook
Target figures for Group net income after minority interest.
at or slightly above € 14.0 m
€ 14.0 m to € 12.5 m
+13.4%
€ 12.4 m
+1.2%
fully confirmed
2014/2015
Actual
2015/2016
Guidance June 2015
2015/2016
Guidance Nov. 2015

14. 3. M&A Current situation with regard to M&A
On the one hand: M&A in the “good” SME sector is currently a seller’s market
A lot of available funds, low interest rates, few attractive investment opportunities
Comparably small number of interesting SMEs
On the other hand: The market continues to be strongly fragmented at all levels (sellers, intermediaries, buyers), there are still interesting opportunities
GESCO strengthened its team in September (Christoph Borges, Head of M&A)

15. 3. M&A and portfolio development
January 2015: Setter Group acquires Setterstix Corp. / USA
Setterstix is the leading US producer of paper sticks for the confectionary industry with approx. € 10 m sales and 40 employees
GESCO subsidiary Setter is market leader for paper sticks for the hygiene industry in the US  acquisition rounds off Setter’s position in the US market perfectly
The companies have common origins, but have been separate companies for decades

16. 4. The GESCO share Free float: 85.5%
Stefan Heimöller, entrepreneur, member of supervisory board: 14.5 %
Investmentaktiengesellschaft für langfristige Investoren TGV: 10.5 %
Dividend policy: payout ratio approx. 40 % of Group net income after minority interest

17. 4. Share price development (in %) – 1 and 5 years
GESCO vs. SDAX, 1 Jahr
GESCO vs. SDAX, 5 Jahre
─ GESCO
─ SDAX

18. 4. Share price development (in %) – 10 years
GESCO vs. SDAX, 10 Jahre
─ GESCO
─ SDAX

19. Facts and figures on GESCO AG
Founded:
Share capital: € 8,645,000
Shares: 3,325,000 registered shares
Free float: %
Stock markets: Xetra; Frankfurt (regulated market); Berlin, Düsseldorf, Hamburg, Hanover, Munich, Stuttgart (open market)
Sec. identification number: A1K020
ISIN: DE000A1K0201
IPO: 24/03/1998
End of financial year: 31 March
Designated sponsors: equinet Bank AG Oddo Seydler Bank AG

20. GESCO Group overview Company Sales 2014 €‘000 Staff 31/12/2014
GESCO AG shareholding
Astroplast Kunststofftechnik GmbH & Co. KG
16,646 92
80%
Paul Beier GmbH Werkzeug- und Maschinenbau & Co. KG
9,492
108
100%
C.F.K. CNC-Fertigungstechnik Kriftel GmbH
8,330 57
Dömer GmbH & Co. KG Stanz- und Umformtechnologie
14,719
102
Dörrenberg Edelstahl GmbH
171,683
501
90%
Frank Group
28,225
274
Franz Funke Zerspanungstechnik GmbH & Co. KG
16,861 81
Haseke GmbH & Co. KG
12,742 63
Hubl GmbH
10,806
101
Georg Kesel GmbH und Co. KG
12,454 69
MAE Maschinen- und Apparatebau Götzen GmbH
24,768
160
Modell Technik Formenbau GmbH
13,948
115
Protomaster Riedel & Co. GmbH
8,630
110
82.17%
Setter Group
14,567 59
SVT GmbH
44,104
182
VWH Vorrichtungs- und Werkzeugbau Herschbach GmbH
11,151
109
Werkzeugbau Laichingen Group
25,196
178
85%

21. Financial calendar and Investor relations contact
7/8 January 2016 ODDO Forum, Lyon
15 February 2016 Q3 figures ( to )
16/17 February 2016 ODDO Small & Mid Cap Conference, Frankfurt / Main
30 June Annual Accounts Press Conference and Analysts’ Meeting
15 August Q1 figures ( to )
25 August 2016 Annual General Meeting
15 November 2016 Q2 figures ( to )
Investor Relations
GESCO AG Phone:
Investor Relations Fax:
Oliver Vollbrecht
Johannisberg 7 Internet:
42103 Wuppertal Germany