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EQS-Ad-hoc: Cherry SE / Key word(s): Forecast PUBLICATION OF AN INSIDE INFORMATION ACC. TO ARTICLE 17 OF THE REGULATION (EU) NO. 596/2014 Cherry SE: Forecast for the fiscal year and Q1 2024 Munich, February 27, 2024 – The Management Board expects that the continued implementation of the restructuring, cost reduction and transformation measures initiated will lead to an improvement in the Company’s financial situation in the fiscal year 2024. Based on this, the Management Board expects revenues at Group level of approximately EUR 140 to 150 million for the fiscal year 2024 (analyst consensus: EUR 135 million) and an adjusted EBITDA margin* in the range of 7.0% to 8.0% (analyst consensus: 6.7%). For Q1/2024, based on revenues of approximately EUR 29.0 million (2023: EUR 28.7 million) the adjusted EBITDA margin* is expected to reach break-even (2023: -4.6%). The restructuring efforts at COMPONENTS, the sales growth strategy in GAMING & OFFICE PERIPHERALS, and the positive growth indicators in DIGITAL HEALTH & SOLUTIONS, combined with strict cost management, support this forecast. The Management Board views the fiscal year 2024 as a revitalization year with significant positive effects from management actions and continues to target a medium-term EBITDA margin* of more than 20%. *The definition of the adjusted EBITDA margin can be found on page 27 of the Annual Report 2022 of Cherry SE, which is available at https://ir.cherry.de/. Notifying person: Oliver Kaltner, Chairman of the Management Board
Disclaimer: This publication contains forward-looking statements. These statements are based on the current views, expectations and assumptions of the management of Cherry SE and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied by such statements. Actual results, performance or events may differ materially from those described herein as a result of factors affecting Cherry SE, such as changes in general economic conditions and the competitive environment, capital market risks, foreign exchange rate fluctuations and competition from other companies, as well as changes in international and national laws and regulations, particularly with respect to tax laws and regulations. Cherry SE assumes no obligation to update forward-looking statements. This publication contains supplementary financial measures (not specifically identified in relevant accounting frameworks) that are, or may be, so-called alternative performance measures. For purposes of evaluating Cherry's financial condition and results of operations, these supplemental financial measures should not be considered in isolation or as an alternative to the financial measures presented in the consolidated financial statements and determined in accordance with relevant accounting frameworks. Other companies that present or report alternative performance measures with a similar title may calculate them differently. Explanations of financial ratios used can be found in Cherry SE's Annual Reports, which are available at https://ir.cherry.de/.
About Cherry Cherry SE [ISIN: DE000A3CRRN9] is a globally operating manufacturer of high-end mechanical keyboard switches and computer input devices such as keyboards, mice, and headsets for applications in the worlds of gaming, e-sports, office and hybrid workplaces, industry, and healthcare. Since it was founded in 1953, Cherry has been synonymous with innovative, high-quality products developed specifically to meet the various needs of its customers. Cherry has its operational headquarters in Auerbach in Germany's Upper Palatinate region and employs in production facilities in Auerbach, Zhuhai (China), and Vienna (Austria) as well as in various sales offices in Auerbach (Germany), Pegnitz (Germany) Munich (Germany), Landskrona (Sweden), Paris (France), Kenosha (USA), Taipei (Taiwan), and Hong Kong (China). For more information: https://ir.cherry.de
Cherry SE Nicole Schillinger Investor Relations P: Rosental 7, c/o Mindspace, 80331 Munich, Germany T: +49 (0) 9643 2061 848 E: nicole.schillinger@cherry.de
End of Inside Information
27-Feb-2024 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
| Language: | English |
| Company: | Cherry SE |
| Rosental 7, c/o Mindspace | |
| 80331 Munich | |
| Germany | |
| ISIN: | DE000A3CRRN9 |
| WKN: | A3CRRN |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 1846161 |
| End of Announcement | EQS News Service |
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1846161 27-Feb-2024 CET/CEST
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