Cherry SE Reports Decline in Nine-Month Revenue for 2024

Cherry SE has released its nine-month report for the fiscal year 2024, announcing a revenue of €84.2 million, reflecting a near 5% decrease from €88.6 million in the previous year. Notably, the third-quarter revenue fell by 17% to €22.6 million, attributed to reduced consumer spending in Germany and structural challenges in the peripherals segment.

The company's adjusted EBITDA margin for the nine-month period stood at -0.8%, a decline from last year's 2.2%. In the third quarter, the margin dropped to -13.7% from -4.6% in the previous year, driven by insufficient fixed cost coverage in the Gaming & Office Peripherals and Components segments, highlighting the need for strategic adjustments.

Conversely, the Digital Health & Solutions sector showed promising growth, contributing over €2 million in earnings in the third quarter of 2024, marking a significant turnaround from the previous year's losses in the same period.