Move to the future: Gigaset Munich changes location
The headquarters of the Munich-based telecommunications company Gigaset is moving to another location in the city. The new head office of the European market leader in DECT cordless phones will be the Seidl Forum at the heart of Munich. As a result, the company is moving from its former site at Siemensstadt in Obersendling, where the company had its roots, to the center of Munich.read more
Financial Results Q3 2014: Gigaset significantly improves EBITDA and consolidated net income
EBITDA from continuing operations in the third quarter: €4.4 million (Q3/2013: €3.8 million).
Consolidated net income from continuing operations in the third quarter: minus €0.2 million (Q3/2013: minus €3.8 million).
Consolidated revenue from continuing operations in the third quarter: €72.0 million (Q3/2013: €76.6 million).
Free cash flow from continuing operations in the third quarter: €7.6 million (Q3/2013: minus €9.9 million).
Initial revenue from the smart home system Gigaset elements...read more
AGM confirms strategy: Executive and Supervisory Boards' course approved by large majority
Around 150 shareholders, shareholder representatives and guests attended the AGM of Gigaset AG at the Hanns Seidel Foundation in Munich. The investors present were asked to vote on six agenda items, which were approved by a large majority.read more
Gigaset posts consolidated profit and positive free cash flow in Q2. Significant improvement in the funding base
Thanks to successful implementation of the efficiency programs and the elimination of negative one-off tax effects from the previous year, Gigaset AG was able to again post positive consolidated net income of €1.3 million from continuing operations in the second quarter of 2014. The company made a net loss of €9.4 million in the same period of the previous year.read more
CFO Dr. Alexander Blum to leave Gigaset at the end of the year
Dr. Alexander Blum, the Chief Financial Officer of Gigaset AG, today informed the Supervisory Board that he will terminate his contract of employment by the due date effective December 31, 2014. Dr. Blum will fully discharge his duties until the end of the year so that a successor can be appointed and become familiarized with the tasks. That will ensure a smooth handover.read more
Gigaset repays all bank debts and completes extensive restructuring of its funding base
Gigaset AG today repaid all its financial liabilities, including all unpaid interest, totaling €25.0 million. This was made possible by the proceeds from the capital measures that were successfully placed recently and brought Gigaset in a net sum of €33.9 million. "The Gigaset Group is now completely free of financial debt and so has a raft of new options to ensure that its growth strategy can be financed further," says CFO Dr. Alexander Blum.read more
Gigaset AG obtains around €33.9 million from successful placement of the capital increase and convertible bond
As part of the rights offers made by Gigaset AG (ISIN DE0005156004) and completed as scheduled on July 14, 2014, 3,5% of the subscription rights to shares and 1,5% of the subscription rights to convertible bonds were exercised.read more
Gigaset consolidates its leading position in the market and completes its orientation toward telecommunications business
Despite the continuing decline in the market in its core business of cordless phones, Gigaset was able to increase its market share in Europe year on year by a total of 1 percentage point in terms of units sold in the first quarter of 2014. The overall market for cordless phones in Europe declined in the months January to March 2014 by almost 13 percent in terms of revenue in the markets observed by Gigaset. The picture was the same in almost all the observed markets.read more
2013 annual results: Gigaset rigorously continues its reconstruction. Crucial steps to stabilize the company reap success.
Gigaset AG has been able to report a positive EBITDA – of €11.0 million – in 2013 for the first time since fiscal 2011. This is due in particular to the positive effects to an amount of €30 million a year from the efficiency program that was announced in 2012. The program has been accomplished to its full extent. These effects will now be fully felt as of fiscal 2014. The declining market for cordless phones meant revenue from continuing operations fell by 11.5 percent to €371.2 million. Capital...read more
Preliminary results for 2013
EBITDA sharply improved – Company presses ahead with entry into new business segmentsread more