22.05.2024 16:00:33 - EQS-News: Cherry SE publishes financial statement on the first quarter of 2024 and confirms outlook for the year

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EQS-News: Cherry SE / Key word(s): Interim Report
Cherry SE publishes financial statement on the first quarter of 2024 and confirms outlook for the year
2024-05-22 / 16:00 CET/CEST
The issuer is solely responsible for the content of this announcement.
Cherry SE publishes financial statement on the first quarter of 2024 and confirms outlook for the year
Munich, 22 May 2024 - Cherry SE, an international manufacturer of computer input devices such as keyboards, mice, and
headsets for applications in the Gaming & E-Sports, Office & Hybrid Workplaces, Industry and Healthcare sectors, today
published its report for the first quarter of 2024 and reaffirmed its full-year guidance for 2024.
. First quarter 2024 group revenue up 5.6% on comparable quarter of 2023
. Adjusted EBITDA margin reached 2.8% and is 7.4 percentage points above the first quarter of 2023 as a
result of strong demand for e-health terminals.
. Full year 2024 forecast confirmed

Group revenue up 5.6% on previous year, with dynamic demand in the healthcare sector being one of the drivers
Cherry SE published its report for the first quarter of 2024 today. In the past financial quarter, the company
generated consolidated revenue of EUR 30.3 million. This corresponds to an increase of 5.6% compared to the EUR 28.7
million achieved in the same quarter of the previous year. The increase results in particular from the pleasant
development in the DIGITAL HEALTH & SOLUTIONS segment, which achieved revenue growth of almost 76%. The strong demand
for the company's e-health terminals as a result of the introduction of e-prescriptions contributed significantly to
the dynamic sales growth. The business with hygiene keyboards and mice for hospitals and medical practices grew
dynamically, too. In the GAMING & OFFICE PERIPHERALS segment, revenue was around 3% higher than in the same quarter of
the previous year. Due to the switch business being largely discontinued in the second half of 2023, COMPONENTS did not
yet make a significant contribution to Group sales again in the first quarter.

Adjusted EBITDA margin for the first quarter of 2024 significantly above previous year
The adjusted EBITDA margin reached 2.8% in the first quarter, significantly exceeding the previous year's figure of
-4.6%. The main driver for the pleasing increase in profitability was the profit growth in the DIGITAL HEALTH &
SOLUTIONS segment due to the development in demand described above. The profit levels of the GAMING & OFFICE
PERIPHERALS and COMPONENTS segments were roughly on a par with those of the first quarter of 2023.

Cherry confirms forecast for 2024
On the back of this, the Management Board of Cherry SE continues to expect to achieve the full year forecast set on
February 27, 2024, of EUR 140 - 150 million in consolidated revenue and 7 - 8% in the adjusted EBITDA margin.
Oliver Kaltner, CEO of Cherry SE, explains: "The realignment of the Cherry Group has presented us with immense
challenges. The decisions we made were tough, but they are leading us consistently along the path of profitable growth.
As of today, all these decisions have largely been implemented, so that we will steer through our revitalization year
2024 based on the following framework conditions: Our adjusted product pipeline and optimized planning process will
allow us to maintain an inventory level significantly below that of recent quarters. Stringent cash and cost management
are already having a positive impact on liquidity and profitability. New sales partnerships are increasing our presence
on both sides of the Atlantic and in Asia, particularly in China. Further favorable regulatory conditions and
structural demand growth support the dynamic expansion of our position in the healthcare sector. This paves the way for
us to return to a profitability level above the 20% mark in the medium term."

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
Nicole Schillinger
Investor Relations
P: Rosental 7, c/o Mindspace, 80331 München
T: +49 (0) 9643 2061 848
E: nicole.schillinger@cherry.de




2024-05-22 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.
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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: 1906061

End of News EQS News Service
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1906061 2024-05-22 CET/CEST

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END) Dow Jones Newswires

May 22, 2024 10:00 ET (14:00 GMT)
Name WKN Börse Kurs Datum/Zeit Diff. Diff. % Geld Brief Erster Schluss
CHERRY SE O.N. A3CRRN Xetra 2,500 19.06.24 14:42:19 +0,010 +0,40% 2,485 2,525 2,420 2,490

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