EQS-News: Cherry SE
/ Key word(s): Half Year Report
Munich, August 6, 2024 – Cherry SE today published its report for the first half of 2024, confirming the preliminary results and forecasts for the third quarter and the full year 2024.
Group revenue 0.4% above previous year, driven by dynamic demand in the healthcare sector Cherry SE today released its report for the first half of 2024. According to the report, the company achieved group revenue of EUR 61.6 million in the past half-year. This represents an increase of 0.4% compared to EUR 61.3 million in the same period of the previous year, driven by the positive development in the DIGITAL HEALTH & SOLUTIONS segment which achieved revenue growth of more than 60%. Revenue in the GAMING & OFFICE PERIPHERALS segment declined by approximately 6% as the company refrained from accepting orders with insufficient profitability. Due to a shift in orders to the third quarter and the base effect from the prior year’s comparison period, in which the switch business had not yet been discontinued, revenue in the COMPONENTS segment also fell short of the first half of 2023. Adjusted EBITDA margin for the first half of 2024 reaches 4% Cherry SE confirms forecast for 2024 Against this backdrop, the Management Board of Cherry SE continues to expect to achieve the annual targets set on February 27, 2024, of EUR 140 – 150 million in group revenue and 7 – 8% in adjusted EBITDA margin. Additionally, the Management Board maintains its forecast for the third quarter of 2024, published on July 18, 2024, expecting group revenue of approximately EUR 35 million (Q3 2023: EUR 27.3 million) and an adjusted EBITDA margin in the range of 5% - 6% (Q3 2023: -4.6%). The full report can be downloaded at https://ir.cherry.de/home/publications/#interim-reports. 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 Contact Cherry SE
06.08.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
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: | 1961453 |
End of News | EQS News Service |
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1961453 06.08.2024 CET/CEST
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