Gigaset Group today terminated a general agreement with the employee representatives to cut 279 jobs at the Munich and Bocholt locations. The restructuring is expected to entail non-recurring costs of around €20 million, for which Gigaset will immediately set up a provision, but in conjunction with cutting additional non-personnel and service costs the company will also generate annual savings totaling at least €30 million.
Including restructuring costs, Gigaset expects a slightly negative EBITDA in this fiscal year. After adjustment for this one-off effect, the company anticipates a positive EBITDA, though it has already announced that this will be well below that of the previous year.
The company has set itself the target of achieving revenue of €500 to 560 million and an EBITDA margin of around ten to 13 percent in 2015 thanks to its improved setup and the new Business Units.
Gigaset AG, Munich, is an internationally operating company in the area of communications technology. The Company is Europe's market leader in DECT telephones. The premium supplier ranks second worldwide with around 1,700 employees and a market presence in more than 70 countries.
Gigaset AG is listed on the Prime Standard of Deutsche Börse and thus is subject to the highest requirements for transparency. Its shares are traded on the Frankfurt Stock Exchange under the symbol 'GGS' (ISIN: DE0005156004).
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