Brief: Cherry Says For FY 2023, Group Sales & Adjusted Group Ebitda Margin* Will Not Reach Previous Forecast

Cherry SE

31/01/2024 19:54

Jan 31 (Reuters) - Cherry Se  C3RY.DE :
    * EQS-ADHOC: CHERRY SE: PRELIMINARY FIGURES FOR THE
FINANCIAL YEAR
2023 AND THE FOURTH QUARTER OF 2023 BELOW FORECAST
    * FOR FINANCIAL YEAR 2023, GROUP SALES AND ADJUSTED GROUP
EBITDA
MARGIN* WILL NOT REACH PREVIOUS FORECAST.
    * CHERRY - FY 2023 GROUP SALES EXPECTED TO BE AROUND EUR 126
MILLION (FORECAST: AROUND EUR 140 MILLION)
    * CHERRY: RESTRUCTURING, COST-CUTTING & TRANSFORMATION
MEASURES
BEING IMPLEMENTED & EXPECTS THIS WILL LEAD TO IMPROVEMENT IN
FINANCIAL POSITION IN 2024.
    * FY 2023 ADJUSTED GROUP EBITDA MARGIN* IS EXPECTED TO BE
AROUND
2% (FORECAST: AROUND 10%)

Source text for Eikon:  ID:nEQ5pLY9la 
Further company coverage:  C3RY.DE 

 ((Reuters.Briefs@thomsonreuters.com;))