Currency and short-term material effects in Q4 make it neces-sary to adjust the outlook for 2022 - revenue increase expected

Bocholt, November 18th, 2022 [15:05] - A change in the information position and a current assessment of the further course of business in 2022 have today prompted the Executive Board of Gigaset AG to adjust the company's previous forecast.

Previously, the company had forecast a slight year-on-year increase in revenue and EBITDA as well as a moderately positive free cash flow. It is now assuming an increase in revenue of between EUR 235 million and EUR 250 million (2021 EUR 217.1 million). This is due to improved material availability in the short term and initial positive effects from sales price adjustments. 

EBITDA is now expected to be below the previous year's level in the range of EUR 6 million to EUR 15 million (2021 EUR 16.5 million). This is due to rising material costs as a result of the depreciation of the Euro against the US Dollar. Inflationary effects also have a negative impact on the cost side.

The moderately positive free cash flow for 2022 as assumed in the initial outlook confirmed. A result of be-tween EUR 0.1 million and 3 million is expected (2021 minus EUR 14.2 million).

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