Cherry SE Announces Q2 2024 Preliminary Figures and Q3 Forecast

Munich, 18 July 2024 – Cherry SE has revealed its preliminary figures for Q2 2024 and forecast for Q3 2024. The firm's profitability in Q2 improved significantly compared to Q1.

Revenues for H1 2024 reached EUR 61.6 million, slightly above the previous year's EUR 61.3 million. Q2 revenues were EUR 31.3 million, up 3.2% from Q1 but down from EUR 32.6 million in Q2 2023. Adjusted EBITDA margin rose to 5.1% in Q2 from 2.8% in Q1.

The Digital Health & Solutions segment recorded strong growth, achieving its highest half-year revenue. Despite a postponed order in the Components segment and avoiding low-margin business in Gaming & Office Peripherals, overall revenues increased slightly year-on-year.

For Q3 2024, Cherry SE expects revenues of around EUR 35 million and an adjusted EBITDA margin of 5-6%. The company maintains its full-year 2024 forecast with expected revenues between EUR 140-150 million and an adjusted EBITDA margin of 7-8%.