Cherry SE Releases 2024 Half-Year Report

EQS-News: Cherry SE / Key word(s): Half Year Report Cherry SE Releases 2024 Half-Year Report 06.08.2024 / 08:31 CET/CEST The issuer is solely responsible for the content of this announcement. Munich, August 6, 2024 – Cherry SE today published its report for the first half of 2024, confirming the preliminary results and forecasts for the third quarter and the full year 2024.

• Further progress achieved in the first half of the 2024 revitalization year
• First half 2024 revenue of EUR 61.6 million slightly above the previous year’s level; very positive development in the DIGITAL HEALTH & SOLUTIONS segment
• Adjusted EBITDA margin for the first six months at 4.0%; sequential margin increase from 2.8% in the first quarter to 5.1% in the second quarter of 2024
• Inventory at EUR 59 million as of June 30, 2024, seasonally higher than the EUR 55 million at the end of the first quarter, but significantly below the EUR 80 million as of June 30, 2023
• Equity ratio of 56% compared to 51% at year-end 2023
• Forecasts for the third quarter and full year 2024 confirmed

Group revenue 0.4% above previous year, driven by dynamic demand in the healthcare sector

Cherry SE today released its report for the first half of 2024. According to the report, the company achieved group revenue of EUR 61.6 million in the past half-year. This represents an increase of 0.4% compared to EUR 61.3 million in the same period of the previous year, driven by the positive development in the DIGITAL HEALTH & SOLUTIONS segment which achieved revenue growth of more than 60%. Revenue in the GAMING & OFFICE PERIPHERALS segment declined by approximately 6% as the company refrained from accepting orders with insufficient profitability. Due to a shift in orders to the third quarter and the base effect from the prior year’s comparison period, in which the switch business had not yet been discontinued, revenue in the COMPONENTS segment also fell short of the first half of 2023.