GIGASET AG (FRA:GGS) EQS-Adhoc: Inflation and Economic Slowdown necessitate Adjustment of Outlook for 2023
Transparency directive : regulatory news
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EQS-Ad-hoc: Gigaset AG / Key word(s): Change in Forecast
Ad hoc Information Bocholt, September 6th, 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. *EBITDA to be interpreted as earnings before interest, taxes, depreciation and amortisation.
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). End of Inside Information
06-Sep-2023 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
| Language: | English |
| Company: | Gigaset AG |
| Frankenstr. 2 | |
| 46395 Bocholt | |
| Germany | |
| Phone: | +49 (0)89 444 456 866 |
| Fax: | +49(0)89 444 456 930 |
| E-mail: | info@gigaset.com |
| Internet: | www.gigaset.com |
| ISIN: | DE0005156004 |
| WKN: | 515600 |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 1720521 |
| End of Announcement | EQS News Service |
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1720521 06-Sep-2023 CET/CEST