Cherry SE Unveils Guidance for Fiscal Year and First Quarter 2024

Cherry SE, the global computer input device manufacturer, announced its guidance for fiscal year 2024 and the first quarter of the same year. Through the continued implementation of restructuring, cost reduction and transformation measures, management expects an improvement in the company's financial situation. For fiscal year 2024, Cherry SE forecasts group-level revenues of approximately €140 million to €150 million, beating analyst consensus of €135 million, with an adjusted EBITDA margin of between 7.0 % and 8.0%, also above analysts' expectations of 6.7%.

For the first quarter of 2024, with revenues estimated at approximately 29.0 million euros compared to 28.7 million in 2023, the adjusted EBITDA margin is expected to break even, marking a marked improvement from -4, 6% the previous year. Restructuring efforts within COMPONENTS, the sales growth strategy in GAMING & OFFICE peripherals, as well as positive growth indicators in HEALTH & DIGITAL SOLUTIONS, supported by strict cost management, contribute to this optimistic outlook. .

Management views 2024 as a year of revitalization, anticipating significant positive effects from management actions, and maintains its medium-term target of an EBITDA margin of over 20%.