Currency and short-term material effects in Q4 have less impact on 2022 outlook than expected. EBITDA forecast for 2022 is raised.

Bocholt, February 27th 2023 [11:52 hrs] - The Executive Board today raised its corporate forecast, which was last adjusted on November 18th 2022. 

EBITDA* forecast improves, slight increase expected compared to 2021

Revenue increase between EUR 235 million and 250 million confirmed unchanged

Moderately positive free cash flow confirmed unchanged

The positive change relates to EBITDA. Originally, the company forecast a slight increase in EBITDA compared to the previous year. Due to rising material costs, caused by the depreciation of the eu-ro against the US dollar, as well as inflation effects, which had a negative impact on the cost side, the company most recently lowered its expectation for the 2022 financial year on November 18th 2022 and assumed an EBITDA below the previous year's level in the range of EUR 6 million to EUR 15 million. However, the effects described had less of an impact than expected, and the forecast has been adjusted again accordingly. A slight increase compared to 2021 (EBITDA 2021 EUR 16.5 million) is now expected.

At the present time, the consolidated financial statements have not yet been finalized and are therefore to be considered provisional. The audited and certified consolidated financial statements of Gigaset AG will be published on April 27th, 2023.

*EBITDA: Earnings before interest, taxes, depreciation and amortization

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