Cherry SE Publishes Financial Statement on Q1 2024 and Confirms Yearly Outlook

Munich, 22 May 2024 - Cherry SE, a global manufacturer of computer input devices, released its financial results for the first quarter of 2024, confirming its full-year guidance.

In Q1 2024, Cherry SE saw a 5.6% increase in group revenue, reaching EUR 30.3 million compared to EUR 28.7 million the previous year. This growth was primarily driven by the Digital Health & Solutions segment, boasting a 76% increase due to strong demand for e-health terminals linked to e-prescriptions. Additionally, the Gaming & Office Peripherals segment recorded a 3% increase in revenue.

The adjusted EBITDA margin improved significantly, reaching 2.8% compared to -4.6% in Q1 2023, driven by profitability in the Digital Health & Solutions sector.

Cherry SE maintained its forecast for 2024, expecting consolidated revenue between EUR 140-150 million and an adjusted EBITDA margin of 7-8%. CEO Oliver Kaltner highlighted the company's focus on cash and cost management, new sales partnerships, and favorable regulatory conditions as key factors supporting future growth.