EQS-Ad-hoc: Gigaset AG / Key word(s): Modification of forecasts
Gigaset AG: Currency effects and short-term material effects in the fourth quarter force 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 18e2022
Currency effects and material short-term effects in Q4 require adjustment to 2022 outlook – revenue growth expected
Bocholt, November 18e2022 [15:05] – A change in the reporting position and a current assessment of business continuity in 2022 prompted the board of directors of Gigaset AG today to adjust the company’s previous guidance.
Previously, the company had forecast a slight year-over-year increase in revenue and EBITDA, as well as moderately positive free cash flow. It now expects an increase in revenue of between 235 and 250 million euros (2021 217.1 million euros). This is due to better availability of materials in the short term and the first positive effects of sales price adjustments.
EBITDA is now expected to be below the prior year level within a range of €6-15m (2021 €16.5m). This is due to rising material costs due to the depreciation of the Euro against the US dollar. Inflationary effects also have a negative impact on costs.
The moderately positive free cash flow for 2022, as assumed in the initial outlook, is confirmed. A result of between 0.1 and 3 million euros is expected (2021 minus 14.2 million euros).
Gigaset AG, Bocholt, is an international company active in the field of communication technologies. The company is the European market leader for DECT telephones and is also a major international player with approximately 850 employees and business activities in more than 50 countries. Besides DECT phones, its business activities include Android-based smartphones, cloud-powered smart home applications, and business telephony solutions for SoHos, SMBs, and enterprises. The long-established company has a history of 175 years and is particularly characterized by its production “Made in Germany”. The company is headquartered in Bocholt, Germany. It also has a software development center in Wroclaw, Poland, and numerous sales offices in Europe and Asia.
Gigaset AG is listed on 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).
18-Nov-2022 CET/CEST EQS distribution services include regulatory announcements, financial/corporate news and press releases.
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