EQS-Ad-hoc: Gigaset AG / Key word(s): Change in Forecast
Gigaset AG: Currency and short-term material effects in Q4 make it necessary to adjust the outlook for 2022 – revenue increase expected
18-Nov-2022 / 15:04 CET/CEST
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WKN: 515600 / WKN A14KQ7
Bocholt, November 18th, 2022
Currency and short-term material effects in Q4 make it necessary to adjust the outlook for 2022 – revenue increase expected
Bocholt, November 18th, 2022 [15:05] – A change in the information position and a current assessment of the further course of business in 2022 have today prompted the Executive Board of Gigaset AG to adjust the company’s previous forecast.
Previously, the company had forecast a slight year-on-year increase in revenue and EBITDA as well as a moderately positive free cash flow. It is now assuming an increase in revenue of between EUR 235 million and EUR 250 million (2021 EUR 217.1 million). This is due to improved material availability in the short term and initial positive effects from sales price adjustments.
EBITDA is now expected to be below the previous year’s level in the range of EUR 6 million to EUR 15 million (2021 EUR 16.5 million). This is due to rising material costs as a result of the depreciation of the Euro against the US Dollar. Inflationary effects also have a negative impact on the cost side.
The moderately positive free cash flow for 2022 as assumed in the initial outlook confirmed. A result of between EUR 0.1 million and 3 million is expected (2021 minus EUR 14.2 million).
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 a leading international player with around 850 employees and sales activities in over 50 countries. In addition to DECT phones, its business activities include Android-based smartphones, cloud-powered smart home applications and business telephony solutions for SoHo, SMEs and enterprise customers. The long-established company is looking back on a 175 years history and is characterized in a special way by its production “Made in Germany”. The company is headquartered in Bocholt, Germany. It also maintains a software development center in Wroclaw, Poland and numerous sales offices in Europe and Asia.
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).
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