Asetek - Update to Full Year 2021 Guidance

OSLO, Norway, April 7, 2021 /PRNewswire/ -- Asetek today updated its full-year 2021 revenue and operating income expectations due to strong demand for Gaming and Enthusiast products. Asetek expects to report an increase in Group revenue of 20-30% for 2021 compared with 2020, with gross margins lower than 2020. The Company expects an operating income of about $11-16 million, partially reflecting increased overhead costs to facilitate growth.

The previous revenue and operating income expectations, announced on February 24, were for revenue growth of 10-20% in 2021 compared with 2020, with gross margins lower than 2020, and an expected operating income of about $9-15 million.

The Company will release its first quarter 2021 report on April 22.

About Asetek

Asetek, the creator of the all-in-one liquid cooler, is the global leader for liquid cooling solutions for high performance gaming and enthusiast PCs, and environmentally aware data centers. Founded in 2000, Asetek is headquartered in Denmark and has operations in China, Taiwan and the United States. Asetek is listed on the Oslo Stock Exchange (ASTK.OL).

For further information, please contact:

CEO and Founder André S. Eriksen
+45 2125 7076, email: ceo@asetek.com

This information is considered inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act. This stock exchange release was published by Peter Dam Madsen, CFO at Asetek A/S, on April 7, 2021 at 10:10 CEST.

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SOURCE Asetek