DGAP-News
Gigaset continues realignment
DGAP-News: Gigaset AG / Key word(s): Half Year Results/Quarter Results
Gigaset continues realignment
06.08.2015 / 07:55
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Press Release
Munich, August 6, 2015
Figures for the 1st half of 2015:
Gigaset continues realignment
- Consolidated revenue of EUR142.6 million (H1/2014: EUR147.0 million)
- EBITDA of EUR1.7 million (H1/2014: EUR2.3 million)
- Consolidated net income of minus EUR9.0 million (H1/2014: minus EUR10.9
million)
- Free cash flow of minus EUR24.0 million (H1/2014: minus EUR26.9
million)
- Revenue in the Business Customers growth business up 18% year on year
in the first six months
- Revenue in the Home Networks growth business jumps 71% year on year in
the first six months
- Leading position in cordless phone market retained
- Portfolio of smartphones to be presented at IFA
- CEO Charles Fränkl: "The realignment of Gigaset is continuing unabated.
The presentation of our first smartphones at IFA and hence our entry
into a market that is many times larger than our existing core
business, marks the next milestone."
After an initially good start into the new fiscal year in the first
quarter, which saw rising revenue and break-even consolidated net income,
the positive trend stalled in the second quarter. Similar to previous
years, revenue resumed its decline, falling by 12 percent. The seasonally
poor free cash flow performance was weighed down further by additional
one-time factors, such as outflows due to a voluntary program to reduce
personnel costs and payments under the settlement with Evonik.
The decrease in revenue is due to both the consolidation of the sales
regions according to aspects of profitability and the general decline in
the market. Compared with the prior-year quarter, the cordless phone market
contracted 4.7% by number of units and 2.0% by revenue. Gigaset was able to
maintain its clear premium position over the competition: its portfolio
achieved an average sales price which was 20% above that of its
competitors. In the critical European core markets, Gigaset had high market
shares again in the second quarter of 2015, achieving 32.5% by revenue and
28.4% by number of units.
Because of the continuing challenging development in the cordless phone
business, Gigaset is making further investments in promising business
segments and product groups. Although these will make additional
contributions to revenue, they will only partially compensate for the
market-related decline in cordless phones this year. In line with this
strategic realignment, the Gigaset Group is about to make one of the most
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