Cherry SE Announces Preliminary Q2 2024 Figures and Q3 2024 Forecast

Munich, 18 July 2024 – Cherry SE has released its preliminary and unaudited figures for the second quarter of 2024. The Management Board forecasts Group revenue of EUR 31.3 million, compared to an analyst consensus of EUR 34.1 million and EUR 32.6 million in Q2 2023. The adjusted Group EBITDA margin stands at 5.1%, slightly below the analyst consensus of 5.6%, but significantly lower than 13.8% in Q2 2023.

Revenue for the first half of 2024 aligns with the company's expectations, while the adjusted EBITDA margin surpasses the plan. Cherry SE will publish the full half-year financial report, including final figures for H1 2024, on August 6, 2024.

Looking ahead to Q3 2024, Cherry SE projects Group revenue of approximately EUR 35 million, a notable increase from EUR 27.3 million in Q3 2023. The adjusted EBITDA margin is expected to range from 5% to 6%, as opposed to -4.6% in the same period last year.