Cherry SE publishes its financial forecasts for 2024 and optimizes its quarterly reporting

Cherry SE announced its revenue and profit guidance for the current financial year and the first quarter of 2024, while readjusting its quarterly reporting schedule to better meet capital market requirements. According to its management, thanks to the restructuring and cost reduction measures already undertaken, the company expects an increase in its consolidated sales, ranging between 140 and 150 million euros, and targets an adjusted EBITDA margin between 7 and 8%. These targets exceed analysts' current expectations.

For the first quarter, the company expects to generate approximately €29 million in revenue, in line with the previous year, but with an adjusted EBITDA margin expected to break even, marking a significant improvement by compared to the same quarter of the previous year.

Oliver Kaltner, CEO of Cherry SE, highlighted management efforts to stabilize the company and sees 2024 as a year of revitalization, with ambitious growth and profitability targets in their various market segments. The company also announced an optimization of its financial reporting schedule, promising a process more aligned with the needs of capital markets.