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Gigaset AG publishes report on the second quarter and first half of 2020

DGAP-News: Gigaset AG / Key word(s): Quarterly / Interim Statement/Half Year Results Gigaset AG publishes report on the second quarter and first half of 2020 24.09.2020 / 08:00 The issuer is solely responsible for the content of this announcement. Press release Bocholt, September 24, 2020

Gigaset AG publishes report on the second quarter and first half of 2020
Coronavirus pandemic has significant impact on revenue and earnings

• Business closures due to the pandemic in all key sales markets also lead to significant decline in revenue and earnings in Q2
• No reliable outlook for the rest of fiscal 2020 possible due to ongoing coronavirus crisis: year-on-year fall in the relevant key figures anticipated

Gigaset AG (ISIN: DE0005156004), an internationally operating company in the area of communications technology, today published its report for the second quarter and the first half of 2020. The impact of the coronavirus pandemic led to a significant decline in both revenue and earnings in the first half of 2020. The trade restrictions imposed by the European governments also practically brought brick-and-mortar retail to a standstill in many places well into Q2 2020.

Accordingly, revenue in the first half of 2020 stood at €75.8 million, after having still reached €107.1 million in the same period of the previous year. At minus €8 million, earnings before interest, taxes, depreciation and amortization (EBITDA) were also well below that of the previous year (H1 2019: €6.7 million).

"All of the company's business segments were affected by the negative economic effects of the coronavirus pandemic in the first six months of 2020. Restrictions on public life, as well as business closures and lockdowns, especially in other European countries, lasted in part well into June," said Thomas Schuchardt, CFO of Gigaset AG. "We nevertheless expect business activity to normalize in the second half of the year and additional catch-up effects from Q1 and Q2."