Cherry SE Releases 2024 Half-Year Report

Munich, August 6, 2024 – Cherry SE today published its report for the first half of 2024, confirming the preliminary results and forecasts for the third quarter and full year 2024.

Cherry SE achieved a group revenue of EUR 61.6 million in the first half of 2024, a slight increase of 0.4% compared to the same period last year. This growth was mainly driven by the DIGITAL HEALTH & SOLUTIONS segment, which saw revenue growth of over 60%. However, the GAMING & OFFICE PERIPHERALS segment saw a decline as the company refrained from less profitable orders.

The adjusted EBITDA margin for the first six months stood at 4.0%, rising from 2.8% in the first quarter to 5.1% in the second quarter. Inventory levels and equity ratio showed positive trends, with inventory at EUR 59 million and equity ratio at 56%.

Cherry SE confirmed its annual targets, expecting group revenue of EUR 140-150 million and an adjusted EBITDA margin of 7-8% for the full year 2024. The forecast for Q3 2024 is EUR 35 million in revenue and an adjusted EBITDA margin of 5-6%.