EQS-Adhoc: Inflation and Economic Slowdown necessitate Adjustment of Outlook for 2023

Ad hoc Information
WKN: 515600 / WKN A14KQ7

Bocholt, September 6^th, 2023

Inflation and Economic Slowdown necessitate Adjustment of Outlook for 2023

Bocholt, September 6th, 2023 [18:17 h] - A current review and assessment of the further course of business for 2023 today have given the Executive Board of Gigaset AG cause to adjust the previous forecast.

So far, a medium increase in revenues (EUR 241.3 million in 2022), a significant increase in EBITDA* (EUR 17.9 million in 2022) and a significant increase in free cash flow (EUR 1.0 million in 2022) were expected.

Due to persistently high Inflation and a significantly weakening economy, which results in reduced demand for electronic products in both the private and industrial sectors, a significant decline in revenue, EBITDA and free cash flow is now assumed.

The actual revenue to be achieved and the resulting profit are largely dependent on further economic developments as well as the consumer sentiment and investment willingness of both private and business customers during the fourth quarter.

*EBITDA to be interpreted as earnings before interest, taxes, depreciation and amortisation.

Gigaset AG, Bocholt, is an internationally active company in the field of communications technology. The company is Europe's market leader in DECT phones and also ranks internationally with around 850 employees and sales activities in over 50 countries. In addition to DECT cordless phones, the business activities include Android-based smartphones, cloud-controlled smart home applications and business telephony solutions for SoHo, SME and enterprise customers. The traditional company with a 175-year history is particularly distinguished by its "Made in Germany" production. The company's headquarters are in Bocholt, Germany. It also maintains a software development centre in Wroclaw, Poland and numerous sales offices in Europe and Asia.

Gigaset AG is listed in the Prime Standard of the German Stock Exchange and is therefore subject to the highest transparency requirements. The shares are traded on the Frankfurt Stock Exchange under the symbol GGS (ISIN: DE0005156004).