Cherry SE Announces Asset Impairment in 2023 Financial Statements

Cherry SE, a notable player in the technology sector, disclosed an estimated asset impairment of approximately EUR 96 million for the year 2023. The impairments, primarily related to goodwill and other intangible assets and property, plant, and equipment (PP&E), have been initiated in alignment with the new auditor's recommendations and reflect adjustments from previously reported company results in late 2023 and early 2024 planning.

The Munich-based company emphasized that this impairment does not affect the preliminary adjusted Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) or the company's cash flow position for 2023, nor does it impact the financial forecasts for 2024. Cherry SE aims for these adjustments to streamline operations, enhance competitiveness, and secure future viability without affecting core fiscal metrics like revenue and adjusted EBITDA margin.