Cherry SE: Preliminary financial results for Q4/2022 and 2022 fiscal year

Munich, February 8, 2023 – According to preliminary calculations, Cherry SE (ISIN: DE000A3CRRN9) (“Company”) announces preliminary key figures for Q4 2022 and full year 2022 – adjusted EBITDA margin for the 2022 fiscal year below target range.

Based on initial preliminary and unaudited figures, the key financial figures for the 2022 fiscal year are as follows:

- Preliminary Group revenue: EUR 133.7 million (latest forecast: around EUR 130 million to around EUR 140 million).

- Preliminary adjusted Group EBITDA margin: 12.6 % (latest forecast: 13 % to 15 %). The adjusted EBITDA margin was thus below the target range, which mainly resulted from a lower gross margin due to higher proportional selling and logistics costs.

According to preliminary unaudited figures, Group revenue in Q4/2022 amounted to approximately EUR 35.7 million (Q4/2021: EUR 45.1 million) and the adjusted Group EBITDA margin was 9.0 % (Q4/2021: 27.3 %).

The Company will publish its annual report 2022 on March 30, 2023.

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Disclaimer:

This publication contains forward-looking statements. These statements are based on the current views, expectations and assumptions of the management of Cherry SE and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied by such statements. Actual results, performance or events may differ materially from those described herein as a result of factors affecting Cherry SE, such as changes in general economic conditions and the competitive environment, capital market risks, foreign exchange rate fluctuations and competition from other companies, as well as changes in international and national laws and regulations, particularly with respect to tax laws and regulations. Cherry SE assumes no obligation to update forward-looking statements.

This publication contains supplementary financial measures (not specifically identified in relevant accounting frameworks) that are, or may be, so-called alternative performance measures. For purposes of evaluating Cherry's financial condition and results of operations, these supplemental financial measures should not be considered in isolation or as an alternative to the financial measures presented in the consolidated financial statements and determined in accordance with relevant accounting frameworks. Other companies that present or report alternative performance measures with a similar title may calculate them differently. Explanations of financial ratios used can be found in Cherry SE's Annual Reports, which are available at https://ir.cherry.de/.

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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 over 500 people in production facilities in Auerbach, Zhuhai (China), and Vienna (Austria) as well as in various sales offices in Auerbach, Pegnitz, Munich, Landskrona (Sweden), Paris, Kenosha (USA), Taipei, and Hong Kong.

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

Contact:

Dr. Kai Holtmann

Investor Relations

Einsteinstraße 174, c/o Design Offices Bogenhausen, 81677 Munich, Germany

Postal address: Cherrystrasse 2, 91275 Auerbach, Germany

T +49 (0)175-1971503

F +49 (0)9643 20 61-900

E-mail: kai.holtmann@cherry.de

1555183  08-Feb-2023 CET/CEST