EQS-Adhoc: Cherry SE: Forecast update for the 2024 financial year, preliminary quarterly figures Q3

Munich, 22 October 2024 – According to preliminary unaudited figures, consolidated revenue in the third quarter of 2024 amounted to around EUR 22.6 million (previously: around EUR 35 million; see ad-hoc dated 2 October 2024), with an adjusted Group EBITDA margin* of around -13.9% (previously: 5% to 6%).

Against the backdrop of the missed sales targets in the third quarter and the associated insufficient coverage of fixed costs, the Management Board of Cherry SE decided today to update the forecast for the current financial year as follows: The Management Board expects consolidated sales of around EUR 120 million (previously: EUR 140 to 150 million) for the 2024 financial year with an adjusted EBITDA margin of around 3% (previously: 7% to 8%).

Notifying person: Oliver Kaltner, Chairman of the Board

*The definition of the adjusted EBITDA margin can be found on page 26 of Cherry SE's 2023 Annual Report, which is available at https://ir.cherry.de/en/.