EQS-Adhoc: Cherry SE: Forecast update for the 2024 financial year, preliminary quarterly figures Q3

22.10.24 19:14 Uhr

EQS-Ad-hoc: CHERRY SE / Key word(s): Preliminary Results/Forecast
Cherry SE: Forecast update for the 2024 financial year, preliminary quarterly figures Q3

22-Oct-2024 / 19:14 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.

Munich, 22 October 2024 – According to preliminary unaudited figures, consolidated revenue in the third quarter of 2024 amounted to around EUR 22.6 million (previously: around EUR 35 million; see ad-hoc dated 2 October 2024), with an adjusted Group EBITDA margin* of around -13.9% (previously: 5% to 6%).

Against the backdrop of the missed sales targets in the third quarter and the associated insufficient coverage of fixed costs, the Management Board of Cherry SE decided today to update the forecast for the current financial year as follows: The Management Board expects consolidated sales of around EUR 120 million (previously: EUR 140 to 150 million) for the 2024 financial year with an adjusted EBITDA margin of around 3% (previously: 7% to 8%).

Notifying person: Oliver Kaltner, Chairman of the Board

*The definition of the adjusted EBITDA margin can be found on page 26 of Cherry SE's 2023 Annual Report, which is available at https://ir.cherry.de/en/.

End of Inside Information

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Language:	English
Company:	Cherry SE
	Rosental 7, c/o Mindspace
	80331 Munich
	Germany
ISIN:	DE000A3CRRN9
WKN:	A3CRRN
Listed:	Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
EQS News ID:	2013831