Put companies on watchlist
Cherry SE
ISIN: DE000A3CRRN9
WKN: A3CRRN
About
Company Snapshot
New: Enable Investor Alerts
Be informed about new publications
New: AI Factsheet

Corporate News meets AI! 
Content analysis and summary

EN GIF 300X250

Cherry SE · ISIN: DE000A3CRRN9 · EQS - Company News (92 News)
Country: Germany · Primary market: Germany · EQS NID: 2023271
06 November 2024 08:05AM

Cherry SE publishes Nine Month Report 2024


EQS-News: Cherry SE / Key word(s): Quarterly / Interim Statement/9 Month figures
Cherry SE publishes Nine Month Report 2024

06.11.2024 / 08:05 CET/CEST
The issuer is solely responsible for the content of this announcement.


Munich, 6 November, 2024 – Cherry SE today published its report for the nine-month period and third quarter of the 2024 fiscal year.

  • Revenue after nine months at €84.2 million, down nearly 5% from the previous year's figure of €88.6 million
  • Revenue in the third quarter of 2024 at €22.6 million, down 17% from the previous year's third quarter figure of €27.3 million due to restrained consumer spending in the domestic market and structural weakness in the peripherals business
  • Adjusted EBITDA margin after nine months at -0.8% (previous year: 2.2%)
  • Adjusted EBITDA margin in the third quarter at -13.7% (previous year: -4.6%) due to lack of fixed cost coverage from the Gaming & Office Peripherals and Components business units
  • Digital Health & Solutions segment with consistently encouraging growth and an earnings contribution of over €2 million in the third quarter

In the third quarter of 2024, Cherry SE generated revenue of €22.6 million, down 17% from the previous year's third quarter figure of €27.3 million. This decline is attributed, in addition to structural and management issues in the Gaming & Office Peripherals segment, primarily to the downturn in economic activity and negative consumer sentiment in the German market, which slowed commercial and private purchasing decisions for this segment. The negative impact was also reflected in profitability: the adjusted EBITDA margin reached -13.7% compared to -4.6% in the third quarter of the previous year. This margin development reflects lower fixed cost coverage due to the declining revenue and underscores the need for adjustments across various business areas to secure sustainable and profitable growth in the future.

The Components segment also recorded slightly lower earnings than in the previous year due to shifts in revenue. However, the Digital Health & Solutions segment, which had posted losses in the prior year’s comparative quarter, achieved a positive earnings contribution of over €2 million in the third quarter of 2024.

 

About Cherry

Cherry SE [ISIN: DE000A3CRRN9] is a globally active manufacturer of high-end switches for mechanical keyboards and computer input devices such as keyboards, mice, and headsets for applications in the areas of Gaming & E-Sports, Office & Hybrid Workplaces, Industry, and Healthcare. Since its founding in 1953, Cherry has stood for innovative and high-quality products, specifically developed to meet diverse customer needs.

Cherry is headquartered in Auerbach in the Upper Palatinate (Bavaria) and employs staff at production facilities in Auerbach, Zhuhai (China), and Vienna (Austria) as well as at several sales offices in Auerbach, Pegnitz, Munich, Landskrona (Sweden), Paris, Kenosha (USA), Taipei, and Hong Kong.

More information is available online at https://ir.cherry.de/en/
 

Contact

Cherry SE

Nicole Schillinger

Investor Relations

P: Rosental 7, c/o Mindspace, 80331 Munich

T: +49 (0) 9643 2061 848

E: ir@cherry.de

 

 

 



06.11.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com


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: 2023271

 
End of News EQS News Service

2023271  06.11.2024 CET/CEST

fncls.ssp?fn=show_t_gif&application_id=2023271&application_name=news&site_id=boersengefluester~~~ace3d64b-2049-452a-8d18-fbc8044c4b5f
Visual performance / price development - Cherry SE
Smart analysis and research tools can be found here.

This publication was provided by our content partner EQS3.

EQS Newswire
via EQS - Newsfeed
EQS Group AG ©2024
(DGAP)
Contact:
Karlstraße 47 D-80333 München
+49 (0) 89 444 430-000

 

SMART * AD
EN GIF 970X250

P R O D U C T   S U G G E S T I O N S

The information presented here has been provided by our content partner EQS-Group. The originator of the news is the respective issuer, the company relating to the news, a publication service provider (press or information agency) which uses the distribution service of EQS to transmit company news to shareholders, investors, investors or interested parties. The original publications and other company-relevant information can be found at eqs-news.com.


The information you can access does not constitute investment advice. The presentation of our cooperation partners, where the implementation of investment decisions would be possible depending on the individual risk profile, is solely at the discretion of the person using the service. We only present companies of which we are convinced that the range of services and customer service will satisfy discerning investors.

If you are considering leverage products, familiarise yourself with the typical characteristics of the financial instruments beforehand. Take the time to determine the risk content of the planned investment before making an investment decision. Bear in mind that a total loss cannot be ruled out with leverage products.

For newcomers to the subject, we offer various options in both the training and the tools section, through which you can train theoretical knowledge and practical experience and thus improve your skills. The offer ranges from participation in webinars to personal mentoring. The range is continuously being expanded.


1 Lab features are usually functionalities that emerge from the think tank of the investor community. In the early stages, these are experimental functionalities whose development process is largely determined by use and the resulting feedback from the community. When integrating external services or functionalities, the functionality can only be guaranteed to the extent that the individual process elements, such as interfaces, interact with each other.