EQS-News: Gigaset AG presents report on the first quarter of 2023. Strong start to the year. Consolidated revenues increase significantly by 12.7% year over year.
EQS-News: Gigaset AG
/ Key word(s): Quarterly / Interim Statement/Quarter Results
Bocholt, May 25, 2023 – Gigaset AG (ISIN: DE0005156004), a leading international company in the area of communications technology, today published its report for the first quarter of 2023. Gigaset recorded an appreciable 12.7% increase in revenues. EBITDA was more than doubled.
The company posted total revenues of EUR 57.7 million (Q1 2022: EUR 51.2 million) and earnings before interest, taxes, depreciation and amortization (EBITDA) of EUR 2.1 million (Q1 2022: EUR 0.8 million) in the first quarter of 2023.
“The first quarter shows that the new corporate strategy is bearing fruit,” says Dr Magnus Ekerot, CEO of Gigaset AG. “The focus on our way of working, a customer-centric portfolio of products and solutions, and a clearly aligned go-to-market approach have been able to deliver results and growth within a short space of time. Effective collaboration, innovative products and maximum focus in everything we do are our maxims. By managing these controllable factors ourselves, we achieve stronger customer loyalty, differentiating products and greater cost efficiency and profitability. We are committed to quality products and solutions ‘Made in Germany’ and to dedicated sustainability initiatives.”
Performance by segments
The Phone segment performed especially well in the first quarter of 2023. An easing in the supply chain situation contributed to revenues growing by 13.9%. In this positive environment Gigaset gained further market share in the EU6 and increased revenues to EUR 36.9 million. Gigaset is sticking to its strategy of positioning itself as the vendor of choice for premium phones with outstanding quality, features and services and thereby capturing further market share.
The Smartphones segment successfully followed on from its pleasing performance in fiscal 2022 in the first quarter of 2023. Its revenues came in at EUR 4.7 million, a year-on-year increase of 11.9% (Q1 2022: EUR 4.2 million). The main revenue drivers in this segment were the GS5 and GX6 models, which also successfully entered the B2B segment. Gigaset sees substantial growth for smartphones in the B2B segment and is increasingly focused on addressing industry and the handicraft sector with its solutions.
Smart Home offers room for growth. Its revenue fell year over year by 33.3% to EUR 0.2 million (Q1 2022: EUR 0.3 million). The diverse standards and players in the smart home market, as well as the overall subdued revenue growth, mean that this segment still requires management’s close attention.
However, the Professional business segment performed extremely pleasingly in the first quarter of 2023, which was attributable to factors such as catch-up effects from the 2022 fiscal year and an investment backlog on the customer side. Its revenues rose year over year by 11.2% to EUR 15.9 million (Q1 2022: EUR 14.3 million).
“From a macroeconomic perspective, there are still numerous challenges in 2023,” says Thomas Schuchardt, CFO of Gigaset AG. “We are therefore particularly proud to have nevertheless grown revenues and EBITDA sharply. This positive performance is due to catch-up effects, as well as high demand and new projects. The procurement and supply chain situation has also improved.”
General statement by the Executive Board for 2023
The complete report on the first quarter of 2023 can be found on the Gigaset website.
Gigaset AG, Bocholt, is a world-leading company in the area of communications technology and offers a wide range of products and solutions. The company is Europe’s market leader in DECT telephones and also a leader in the international arena, with around 850 employees and sales activities in more than 50 countries. The business activities of the German company, which boasts a long and rich tradition stretching back more than 175 years, comprise not only DECT phones, but also an extensive smartphone portfolio for private and business customers, cloud-based smart home and smart care solutions, and business telephony solutions for the SOHO, SME and enterprise segment.
Gigaset AG is listed in the Prime Standard of Deutsche Börse and is therefore subject to the highest transparency requirements. Its shares are traded on the Frankfurt Stock Exchange under the symbol GGS (ISIN: DE0005156004).
Visit the Gigaset corporate blog
25.05.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
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|EQS News ID:||1640719|
|End of News||EQS News Service|
1640719 25.05.2023 CET/CEST