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Gigaset AG has to adjust revenue expectation and free cash flow for 2021 due to supply chain bottlenecks. EBITDA improves

are placing greater burden on the production of German manufacturers than in other industrialised countries. Gigaset is facing precisely the same problem that the BDI describes for numerous other industrial sectors. It says: "Many manufacturers cannot work off their order books as usual due to supply bottlenecks ]. This is dampening production." "The production backlogs caused by the semiconductor crisis can no longer be fully recovered," stresses Klaus Weßing CEO of Gigaset AG. "The chip shortage has deprived Gigaset of very good year. We are already working on adapting the supply chains for the future in such way that chip supply is ensured in the best possible way. For this we rely on our long-standing partners and suppliers." In view of this far-reaching pan-industrial supply crisis and based on current information on the further course of business the Executive Board of Gigaset has today accordingly come to the conclusion that the previous company forecast must be adjusted. Previously the company expected slight increase in revenues compared to the previous year (EUR million). Now turnover of at least EUR million is expected whereby the achievement of the original turnover assumption remains possible. The actual turnover to be achieved is largely dependent on the current and future ability of the company's upstream suppliers to deliver especially in the semiconductor sector. The expected positive free cash flow at pre-Corona level (2019: EUR million) is now expected to range between EUR minus and minus million. The development of EBITDA on the other hand is pleasing. Here good price-margin mix contributed to the fact that significant increase of at least EUR million compared to the previous year (EUR million) is expected instead of slight increase. Gigaset AG Bocholt is an internationally active company in the field of communications technology. The company is Europe's market leader in DECT phones and is also leading international player with around employees and sales activities in around countries. In addition to DECT phones the company's business activities also include an extensive smartphone portfolio cloud-based smart home applications and business telephony solutions for SMEs and enterprises. Gigaset AG is listed in the Prime Standard of the German Stock Exchange and is therefore subject to the highest transparency requirements. The shares are traded on the Frankfurt Stock Exchange under the symbol GGS (ISIN: DE0005156004). Visit our Follow us on Visit our Homepage  Source: https://www.n-tv.de/wirtschaft/Deutsche-Industrie-sieht-massive-Risiken-article22944590.html 22.11.2021 Dissemination of Corporate News transmitted by DGAP service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements Financial/Corporate News and Press Releases. Archive at www.dgap.de Language: English Company: Gigaset AG Frankenstr. Bocholt Germany Phone: (0)89 Fax: +49(0)89 E-mail: [e-mail] Internet: www.gigaset.com ISIN: DE0005156004 WKN: Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin Dusseldorf Hamburg Hanover Munich Stuttgart Tradegate Exchange EQS News ID: End of News DGAP News Service 1251131  22.11.2021