Cherry SE publishes Nine Month Report 2024

Munich, 6 November, 2024 – Cherry SE today published its report for the nine-month period and third quarter of the 2024 fiscal year.

• Revenue after nine months at €84.2 million, down nearly 5% from the previous year's figure of €88.6 million

• Revenue in the third quarter of 2024 at €22.6 million, down 17% from the previous year's third quarter figure of €27.3 million due to restrained consumer spending in the domestic market and structural weakness in the peripherals business

• Adjusted EBITDA margin after nine months at -0.8% (previous year: 2.2%)

• Adjusted EBITDA margin in the third quarter at -13.7% (previous year: -4.6%) due to lack of fixed cost coverage from the Gaming & Office Peripherals and Components business units

• Digital Health & Solutions segment with consistently encouraging growth and an earnings contribution of over €2 million in the third quarter

In the third quarter of 2024, Cherry SE generated revenue of €22.6 million, down 17% from the previous year's third quarter figure of €27.3 million. This decline is attributed, in addition to structural and management issues in the Gaming & Office Peripherals segment, primarily to the downturn in economic activity and negative consumer sentiment in the German market, which slowed commercial and private purchasing decisions for this segment. The negative impact was also reflected in profitability: the adjusted EBITDA margin reached -13.7% compared to -4.6% in the third quarter of the previous year. This margin development reflects lower fixed cost coverage due to the declining revenue and underscores the need for adjustments across various business areas to secure sustainable and profitable growth in the future.

The Components segment also recorded slightly lower earnings than in the previous year due to shifts in revenue. However, the Digital Health & Solutions segment, which had posted losses in the prior year’s comparative quarter, achieved a positive earnings contribution of over €2 million in the third quarter of 2024.

About Cherry

Cherry SE [ISIN: DE000A3CRRN9] is a globally active manufacturer of high-end switches for mechanical keyboards and computer input devices such as keyboards, mice, and headsets for applications in the areas of Gaming & E-Sports, Office & Hybrid Workplaces, Industry, and Healthcare. Since its founding in 1953, Cherry has stood for innovative and high-quality products, specifically developed to meet diverse customer needs.

Cherry is headquartered in Auerbach in the Upper Palatinate (Bavaria) and employs staff at production facilities in Auerbach, Zhuhai (China), and Vienna (Austria) as well as at several sales offices in Auerbach, Pegnitz, Munich, Landskrona (Sweden), Paris, Kenosha (USA), Taipei, and Hong Kong.

More information is available online at https://ir.cherry.de/en/
 

Contact

Cherry SE

Nicole Schillinger

Investor Relations

P: Rosental 7, c/o Mindspace, 80331 Munich

T: +49 (0) 9643 2061 848

E: ir@cherry.de