Gigaset AG adjusts revenue expectation and free cash flow for 2021 due to supply bottlenecks in the semiconductor segment. EBITDA improves.
Ad hoc Message WKN: 515600 / WKN A14KQ7 Bocholt, November 22nd 2021
Gigaset AG adjusts revenue expectation and free cash flow for 2021 due to supply bottlenecks in the semiconductor segment. EBITDA improves. Bocholt, November 22nd 2021 [4:32 pm] - Based on current information on the further course of business, the Executive Board today came to the conclusion that the previous company forecast has to be adjusted.
Previously, the company expected a slight increase in turnover compared to the previous year (EUR 214.2 million). Now, a turnover of at least EUR 210 million is expected, whereby the achievement of the original turnover assumption remains possible. The actual turnover to be achieved is largely dependent on the current and future ability of the company's upstream suppliers to deliver, especially in the semiconductor sector.
The expected positive free cash flow at pre-Corona level (2019: EUR 1.2 million) is now expected to range between EUR minus 20 and minus 5 million.
EBITDA is no longer expected to increase slightly, but now significantly, to at least EUR 7.5 million compared to the previous year (EUR 1.9 million). ?
Gigaset AG is an internationally operating company in the area of communications technology. The company is Europe's market leader in DECT telephones and is likewise a leader in the international arena, with around 900 employees and sales activities in around 50 countries. Its business activities comprise not only DECT phones, but also an extensive smartphone portfolio, cloud-based smart home solutions, and business telephony solutions for small, medium and large enterprises.
Gigaset AG is listed in the Prime Standard of Deutsche B?rse and is therefore subject to the highest transparency requirements. Its shares are traded on the Frankfurt Stock Exchange under the symbol GGS (ISIN: DE0005156004).
22-Nov-2021 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.Archive at www.dgap.deLanguage: English Company: Gigaset AG Frankenstr. 2 46395 Bocholt
Germany Phone: +49 (0)89 444 456 866 Fax: +49(0)89 444 456 930 E-mail: email@example.com Internet: www.gigaset.com ISIN: DE0005156004 WKN: 515600 Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange EQS News ID: 1251107 ? End of Announcement DGAP News Service