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    GGS   DE0005156004

GIGASET AG

(GGS)
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PRESS RELEASE: Gigaset AG publishes report on the first quarter of 2021 - Fixed network renaissance continues. Phones segment grows revenue by 40% year over year

05/20/2021 | 02:02am EDT
DGAP-News: Gigaset AG / Key word(s): Quarterly / Interim Statement/Quarterly / Interim Statement 
Gigaset AG publishes report on the first quarter of 2021 - Fixed network renaissance continues. Phones segment grows 
revenue by 40% year over year 
2021-05-20 / 08:00 
The issuer is solely responsible for the content of this announcement. 
=---------------------------------------------------------------------------------------------------------------------- 
Press release 
Bocholt, May 20, 2021 
Gigaset AG publishes report on the first quarter of 2021 
Fixed network renaissance continues. Phones segment grows revenue by 40% year over year 
  . Good start to the year, especially in phone and smartphone business 
  . Consolidated revenue up by almost 56% compared with the same period of the previous year 
  . EBITDA positive again at EUR1.6 million 
Bocholt, May 20, 2021- Gigaset AG (ISIN: DE0005156004), an internationally operating company in the area of 
communications technology, today published its report for the first quarter of 2021. It posted strong results in the 
opening quarter of the current fiscal year. Revenue and earnings improved sharply compared with the same period of the 
previous year. EBITDA was also back in the black. 
The company posted total revenue of EUR50.5 million (Q1 2020: EUR32.4 million) and earnings before interest, taxes, 
depreciation and amortization (EBITDA) of EUR1.6 million (Q1 2020: EUR -7.4 million) in the first quarter of 2021. 
"We are also still feeling the impacts of the coronavirus pandemic," says Thomas Schuchardt, CFO of Gigaset AG. 
"Nevertheless, the Phones, Smartphones and Professional segments performed very positively in the first quarter. Only 
the Smart Home segment remained heavily hit by the coronavirus pandemic. We believe we're well-positioned moving ahead. 
In our view, B2B business still has great potential, while the strong increase in digitization in private and 
professional life offers us ample opportunities we intend to leverage uncompromisingly." 
Performance by segments 
In the mainly consumer-oriented Phones, Smartphones and Smart Home segments, revenue was EUR39.3 million, a sharp 
increase of 72.4% against 2020 (EUR22.8 million). In Professional business for B2B customers, the company generated 
revenue of EUR11.2 million, a rise of 16.7% over 2020 (EUR9.6 million). 
In a market environment that remains challenging, revenue in the Phones segment is being bolstered in particular by the 
changes in everyday life caused by the continuing coronavirus pandemic, such as the greater shift to working from home. 
Demand for fixed-line telephony in conjunction with a growing trend toward online shopping has led to a sharp rise in 
revenue despite all the store closures. For example, revenue in the Phones segment in the first quarter of 2021 
increased to EUR35.3 million (Q1 2020: EUR25.3 million) or by almost 40%. However, the company assumes that this very 
positive trend will level off again in the medium term. 
The Smartphones segment was hit particularly hard last year by the measures to contain coronavirus in all sales 
markets. In the first quarter of 2020, product returns by retailers resulted in negative revenue of EUR -3.7 million. 
However, revenue in the first quarter of 2021 recovered significantly to EUR3.6 million - twice the figure for the first 
quarter of 2020. 
The situation in the Smart Home segment remains challenging. After doubling in the same period of the previous year 
(due to a new cooperation with a new partner in Switzerland), revenue in the first quarter of 2021 fell to EUR0.4 million 
(Q1 2020: EUR1.2 million). That is attributable to the fact that markets all in all are not trending as forecast by third 
parties, and that consumers are primarily buying smart home goods in the areas of convenience and entertainment. Smart 
TVs and robovacs, which are likewise included by market research institutes in their analyses, predominate compared 
with security or energy management solutions such as Gigaset offers. 
The Professional segment is also making good headway again after the crisis year 2020. After enterprises had previously 
deferred projects and orders, catch-up effects in the first quarter were a factor that helped increase revenue by 16.7% 
to EUR11.2 million (Q1 2020: EUR9.6 million). 
"By and large we feel positive about the current fiscal year," states Klaus Weßing, CEO of Gigaset AG. "Thanks to the 
swift countermeasures we initiated and our large investments in our products, we laid the groundwork last year and 
created a good foundation for the company's successful further development. As the figures we've presented demonstrate, 
we've got off to a good start in 2021. New products and key long-term partnerships, such as that with Unify Software 
and Solutions GmbH & Co. KG, will strengthen us further. We'll continue to build on that in the course of 2021." 
Gigaset announced in December 2020 that it would be developing the next family of desktop phones for Unify. Licenses 
acquired as part of that also allow Gigaset to use the new products in its own portfolio. The agreement has a minimum 
term of five years starting with shipment of the first product in 2022. Gigaset expects to supply Unify and Gigaset's 
direct customers with a total of more than five million phones. 
The outlook in context 
2021 still holds many opportunities and risks, and there is as yet no clear trend as to what will happen in 2021. The 
projections of a general recovery in the economy are all based on the common assumption that the pandemic will be 
suppressed quickly and successfully. 
If that is not the case or if the pandemic is suppressed successfully, but company bankruptcies increase sharply 
despite key government measures to help cushion its impact, such as the German Act to Mitigate the Consequences of the 
COVID-19 Pandemic under Civil, Insolvency and Criminal Procedure Law, which permitted temporarily suspension of the 
obligation to file for insolvency, there might be negative repercussions for private consumption by households. 
Gigaset believes that there will still be great uncertainty as regards the medium- and long-term effects of the 
pandemic in 2021. In view of this projection, Gigaset also continues to see itself significantly dependent on external 
factors beyond its control, in other words, decisions by governments to impose lockdowns or close businesses and 
borders, as well as the duration and further evolution of the pandemic itself. 
Moreover, full utilization of production capacities might not be able to be ensured as a result of existing shortages 
(such as for chipsets) on the procurement market. The challenge of procuring materials is one that is faced by Gigaset 
and many other industries. The company's long-standing and established business relationships with partners will be an 
advantage here. 
General statement by the Executive Board for 2021 
Excluding a sudden and serious deterioration in the coronavirus pandemic, Gigaset anticipates the following financial 
performance, financial position and cash flow situation in the year 2021: 
 1. Compared with 2020, which was heavily impacted by coronavirus, a slight increase in revenue and EBITDA. 
 2. A positive free cash flow at the pre-coronavirus level, allowing for the planned operational business and necessary 
    investments. 
The complete report on the first quarter of 2021 can be found here. 
Gigaset AG, Bocholt, is an internationally operating company in the area of communications technology. The company is 
Europe's market leader in DECT telephones and is also a leader in the international arena, with around 900 employees 
and sales activities in around 56 countries. Its business activities comprise not only DECT phones, but also an 
extensive smartphone portfolio, cloud-based smart home applications, and business telephony solutions for SME and 
enterprise customers. 
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 our corporate blog 
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Visit our homepage http://www.gigaset.com 
=---------------------------------------------------------------------------------------------------------------------- 
2021-05-20 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. 
The issuer is solely responsible for the content of this announcement. 
The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. 
Archive at www.dgap.de 
=---------------------------------------------------------------------------------------------------------------------- 
Language:     English 
Company:      Gigaset AG 
              Frankenstr. 2 
              46395 Bocholt 
              Germany 
Phone:        +49 (0)89 444 456 866 
Fax:          +49(0)89 444 456 930 
E-mail:       info@gigaset.com 
Internet:     www.gigaset.com 
ISIN:         DE0005156004 
WKN:          515600 
Listed:       Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, 
              Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange 
EQS News ID:  1198423 
 
End of News   DGAP News Service 
=------------ 

1198423 2021-05-20

 
Image link: 
https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=show_t_gif&application_id=1198423&application_name=news 
 

(END) Dow Jones Newswires

May 20, 2021 02:01 ET (06:01 GMT)

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Financials
Sales 2021 231 M 273 M 273 M
Net income 2021 -5,61 M -6,63 M -6,63 M
Net Debt 2021 78,6 M 92,8 M 92,8 M
P/E ratio 2021 -8,33x
Yield 2021 -
Capitalization 48,2 M 56,9 M 56,9 M
EV / Sales 2021 0,55x
EV / Sales 2022 0,49x
Nbr of Employees -
Free-Float 26,5%
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Number of Analysts 2
Last Close Price 0,36 €
Average target price 0,60 €
Spread / Average Target 63,5%
EPS Revisions
Managers and Directors
Klaus We▀ing Chief Executive Officer
Thomas Schuchardt Chief Financial Officer
Hau Yan Wong Chairman-Supervisory Board
Paolo Vittorio Di Fraia Vice Chairman-Supervisory Board
Ka Yan Shiu Member-Supervisory Board
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