Successful Analyst and Investor Day; preliminary figures for Q1 2024 above own forecast and market expectations; outlook for the current year confirmed

Cherry SE Analyst and Investor Day

Munich, 26 April 2024 – Successful Analyst and Investor Day; preliminary figures for Q1 2024 above own forecast and market expectations; outlook for the current year confirmed

Cherry SE successfully completed its virtual Analyst and Investor Day on April 25, 2024. More than 50 analysts and investors from Europe and the USA were updated about the company's situation by CEO Oliver Kaltner, COO Dr. Udo Streller and Interim CFO Volker Christ. The company, which has been listed on the stock exchange since 2021 (ISIN: DE000A3CRRN9), presented the current adjustments to its business model, the implementation status of the ongoing "Roadmap 2025" restructuring program and its key growth drivers and margin outlook.

The Interim CFO provided information on the preliminary annual financial statements for 2023 as well as the performance of the first quarter of 2024, which, based on preliminary results, shows sales of EUR 30.3 million (+5.5% compared to Q1 2023 and 4.4% above the company's own forecast of EUR 29.0 million) and an adjusted EBITDA margin of 2.8% (+7.4 percentage points compared to Q1 2023 and 2.8 percentage points above the company's own forecast of 0%), exceeding analysts' average expectations of EUR 28.3 million for revenue and 1.3% for the adjusted EBITDA margin.

The CEO confirmed the positive outlook for 2024 with sales in a range of EUR 140 - 150 million and an adjusted EBITDA margin in a range of 7-8%. The presentation and replay of the webcast can be accessed at https://ir.cherry.de/home/publications/#presentations-webcasts

The company will publish its 2023 annual report and the final results for the first quarter of 2024 on May 22, 2024.

The Annual General Meeting of Cherry SE is scheduled for Wednesday, July 24, 2024.

 About Cherry

Cherry SE [ISIN: DE000A3CRRN9] is a globally operating manufacturer of high-end mechanical keyboard switches and computer input devices such as keyboards, mice, and headsets for applications in the worlds of gaming, e-sports, office and hybrid workplaces, industry, and healthcare. Since it was founded in 1953, Cherry has been synonymous with innovative, high-quality products developed specifically to meet the various needs of its customers.

Cherry has its operational headquarters in Auerbach in Germany's Upper Palatinate region and employs in production facilities in Auerbach, Zhuhai (China), and Vienna (Austria) as well as in various sales offices in Auerbach (Germany), Pegnitz (Germany) Munich (Germany), Landskrona (Sweden), Paris (France), Kenosha (USA), Taipei (Taiwan), and Hong Kong (China).

For more information: https://ir.cherry.de

Contact

Cherry SE

Nicole Schillinger

Investor Relations

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

T: +49 (0) 9643 2061 848

E: nicole.schillinger@cherry.de