EQS-Adhoc

Cherry SE: Preliminary key figures for fiscal year 2022 and Q4/2022

EQS-Ad-hoc: Cherry SE / Key word(s): Preliminary Results Cherry SE: Preliminary key figures for fiscal year 2022 and Q4/2022 20-March-2023 / 09:50 CET/CEST Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. Cherry SE: Preliminary key figures for fiscal year 2022 and Q4/2022

Munich, March 20, 2023 – Following preliminary calculations, Cherry SE (ISIN: DE000A3CRRN9) ("Company") announces revised preliminary key figures for fiscal year 2022 and Q4/2022 - adjusted EBITDA margin for fiscal year 2022 below previous preliminary calculations.

Based on preliminary and as yet unaudited figures, the key financial ratios for fiscal year 2022 are as follows:

Preliminary Group revenue: EUR 132.5 million (previous preliminary calculation: approx. EUR 133.7 million).

Preliminary adjusted Group EBITDA margin: 11.5% (previous preliminary calculation: 12.6%).

 

The decrease in revenue results from the deferral of revenues due to the termination of a supply relationship for a product in the Components business unit. The change in the adjusted EBITDA margin was mainly caused by the deferral of revenues in conjunction with a restatement of adjustments.

According to preliminary unaudited figures, Group revenues in Q4/2022 were approximately EUR 34.5 million (Q4/2021: EUR 45.1 million) and the adjusted Group EBITDA margin was 4.6% (Q4/2021: 27.3%).

As a result of the termination of the above-mentioned supply relationship, the Management Board has decided to discontinue the business activities with VIOLA keyboard switches and keyboards with immediate effect. From a commercial, economic, and strategic/conceptual point of view, this product segment does not have sufficient sales potential and thus no prospect of continuous revenues on the required scale.