- WKN: 515600
- ISIN: DE0005156004
- Land: Deutschland
Nachricht vom 28.04.2020 | 08:00
Gigaset AG publishes 2019 Annual Report: Forecast achieved in full, EBITDA and Free Cash Flow surpassed
DGAP-News: Gigaset AG
/ Key word(s): Annual Results/Quarter Results
Gigaset AG publishes 2019 Annual Report
Forecast achieved in full, EBITDA and free cash flow surpassed
Gigaset AG (ISIN: DE0005156004), an internationally operating company in the area of communications technology, today published its Annual Report for the 2019 fiscal year, in which it fully achieved the expectations it had most recently announced. Consolidated revenue was €257.9 million and so below the level of the previous year, but earnings before interest, taxes, depreciation and amortization (EBITDA) and the free cash flow improved significantly. In particular, the Smart Home business segment posted sharp growth.
Consolidated revenue down year over year, sharp increase in earnings and free cash flow
One positive point to emphasize is that the quality of margins improved over 2018 even excluding these special effects. The free cash flow rose significantly to €1.2 million (2018: minus €24.1 million). Gigaset has thus fully achieved the expectations it announced in November 2019, namely revenue below that of the previous year and an increase in EBITDA and free cash flow.
Performance by business segments
"We are thinking in terms of these two directions as we move forward," said Klaus Weßing, CEO of Gigaset AG. "The traditional Phones segment has been enriched by mobile telephony solutions and will also be complemented by innovative products down the road. At the same time, the complex Connected Network Solutions business is very important for us. We have successfully accomplished one of the largest development projects in the company's history here. We're now also able to address the needs of enterprise customers and offer them a scalable solution."
Revenue in the Smartphones segment likewise fell slightly to €21.2 million (2018: €23.9 million). Gigaset presented five new smartphone models in fiscal 2019, including its first-ever ruggedized model for use in industrial environments. Smartphones "Made in Germany" remain a unique selling point that sets Gigaset apart from the competition, enabling greater customizing and more flexible production of the models. Gigaset will leverage this advantage to also play a more active role with smartphones in the enterprise customer segment in the future.
Connected Network Solutions
Revenue in the highly project-driven Professional segment fell slightly to €56.6 million (2018: €59.9 million). Gigaset operates in the market for professional telecommunications solutions with an innovative product portfolio of multi-cell systems, DECT-based cordless phones and non-proprietary IP desktop phones. Following the launch of its single- and multi-cell solution in 2019, Gigaset is now beginning to tap into the enterprise customer market, which will generate further growth.
Gigaset expects a slight to moderate decline in revenue in the Phones segment and a slight increase in revenue for the Smartphones, Smart Home and Professional product segments as a whole in 2020. EBITDA will be at the level of the figure for the previous year after adjustment for the main positive special effects of €7 million. The free cash flow will likewise be around the level of the previous year. Unforeseen, significant changes to general commercial or economic conditions may mean that the guidance needs to be adjusted.
Adjustment of the outlook
In view of the direct effects of the coronavirus pandemic, as well as Gigaset's dependence on external factors outside its control - i.e. decisions by governments to impose curfews and close businesses and borders, as well as the duration and further evolution of the pandemic itself -, the company will not issue a guidance for 2020, since a reliable forecast is not possible given the unique nature of the current situation.
The complete 2019 Annual Report can be downloaded here.
Gigaset AG is an internationally operating holding company in the field of telecommunications. The wholly-owned subsidiary Gigaset Communications GmbH is Europe's market leader in DECT cordless telephones and is also a leader in the international arena, with around 900 employees and sales activities in around 55 countries. Gigaset Communications GmbH's business activities also include the segments Smartphones, Smart Home and business telephony solutions for small, medium-sized and enterprise customers.
|Phone:||+89 444456 - 866|
|Fax:||+89 444456 - 930|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||1030317|
|End of News||DGAP News Service|
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