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    GGS   DE0005156004

GIGASET AG

(GGS)
  Report
Delayed Xetra  -  11:36 2022-10-04 am EDT
0.2100 EUR   -2.78%
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Stability in unsettled times: Executive Board mandates of Klaus We▀ing and Thomas Schuchardt extended

05/04/2022 | 07:32am EDT

DGAP-News: Gigaset AG / Key word(s): Personnel
Stability in unsettled times: Executive Board mandates of Klaus Weßing and Thomas Schuchardt extended

04.05.2022 / 13:30
The issuer is solely responsible for the content of this announcement.


Press release
Bocholt, May 4th, 2022

Stability in unsettled times: Executive Board mandates of Klaus Weßing and Thomas Schuchardt extended
Supervisory Board of Gigaset AG sees Executive Board members as successful crisis managers

Bocholt, May 4th 2022 - The Supervisory Board of Gigaset AG (ISIN: DE0005156004), an international communications technology company, today announced that the Executive Board mandates of Klaus Weßing, CEO, and Thomas Schuchardt, CFO, will be extended.

As a result of the ongoing Corona pandemic, 2021 continued to be a challenging year for the company: New virus variants, supply difficulties with materials and pre-products as well as growing bottlenecks in logistics were just some of the issues the Gigaset Group's Executive Board had to deal with. Nevertheless, the company was able to increase its revenue and operating EBITDA for 2021 and is back in the black with a positive result of EUR 0.5 million.

In view of the merits of the Executive Board in keeping the company on track in the two pandemic years 2020 and 2021, the Supervisory Board of Gigaset AG has now extended the CEO and CFO mandates.

"Mr. Weßing has initiated a fundamental change of course at Gigaset towards digitalization and new product fields. Mr. Schuchardt has successfully secured the company's cash and liquidity situation. Together, the members of the Executive Board have kept Gigaset on course during the last two pandemic years in stormy times," said Supervisory Board Chairman Helvin Wong. "By extending the mandates, we value the performance of Mr. Weßing and Mr. Schuchardt and rely on the experience and well-rehearsed cooperation of the Executive Board in these extraordinary and turbulent times.?

Both Executive Board members thank the Supervisory Board for its confidence in them: "We are firmly convinced that Gigaset must be managed calmly and prudently. We are facing major social and economic challenges. Together, we will continue to do everything we can to ensure Gigaset's success in the interests of our shareholders and employees."

 

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 50 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).

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04.05.2022 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.

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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: 1343481

 
End of News DGAP News Service

1343481  04.05.2022 

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ę EQS 2022
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Sales 2022 230 M 230 M 230 M
Net income 2022 2,53 M 2,53 M 2,53 M
Net Debt 2022 80,8 M 80,5 M 80,5 M
P/E ratio 2022 11,3x
Yield 2022 -
Capitalization 27,8 M 27,7 M 27,7 M
EV / Sales 2022 0,47x
EV / Sales 2023 0,40x
Nbr of Employees -
Free-Float 26,5%
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Mean consensus BUY
Number of Analysts 2
Last Close Price 0,22 €
Average target price 0,72 €
Spread / Average Target 233%
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 Member-Supervisory Board
Ulrich Burkhardt Member-Supervisory Board
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