DGAP-News

Gigaset AG publishes 2020 Annual Report

DGAP-News: Gigaset AG / Key word(s): Annual Report/Annual Results Gigaset AG publishes 2020 Annual Report 22.04.2021 / 09:00 The issuer is solely responsible for the content of this announcement. Press release Bocholt, April 22, 2021 Gigaset AG publishes 2020 Annual Report 2020 goals curbed due to coronavirus pandemic - rigorous and rapid countermeasures nevertheless lead to a solid result

• Total consolidated revenue of €214.2 million due to coronavirus
• Rigorous cost saving measures implemented
• Cash and cash equivalents up 15% year on year at €42.0 million thanks to strict cost and liquidity management

Bocholt, April 22, 2021 - Gigaset AG (ISIN: DE0005156004), an internationally operating company in the area of communications technology, today published its Annual Report for 2020. Due to the continuing coronavirus pandemic, the last fisical year was especially challenging for Gigaset AG. Fiscal 2020 was clearly negatively impacted by coronavirus. This was also reflected in revenue and earnings in all segments. However, the countermeasures already taken by the company at a very early stage mitigated the impact. All in all, this allowed a solid operating result (EBITDA) and cash and cash equivalents clearly above the prior year to be achieved.

In total, consolidated revenue of €214.2 million was generated in fiscal 2020 compared with €257.9 million in the same period of the prior year (-16.9%). The various state measures to contain the coronavirus pandemic in Germany and Europe, such as trade restrictions and repeated store closures in all of the company's markets, led to a decline in revenue in all four segments. Gigaset responded quickly, rigorously, and sustainably through targeted countermeasures. Thanks in particular to strict cost control, optimized working capital management, and the use of state support, it was nevertheless possible to post a solid operating result for 2020 as a whole with an EBITDA of €1.9 million. Through intensive liquidity management, much higher cash and cash equivalents of €42.0 million were posted at the end of the year than in the prior year (€36.6 million) and hence a robust cushion of +15.0%.