Quarterly Report • May 28, 2020
Quarterly Report
Open in ViewerOpens in native device viewer
from January 1 to March 31, 2020
| illi EU R m on s |
1/1 / - 3/3 1/2 02 0 |
1/1 / - 3/3 1/2 01 9 |
|---|---|---|
| lida ted Co nso rev en ues |
32. 4 |
45 .8 |
| bef de nd Ear nin int cia tio izat ion st, t ort gs ore ere axe s, pre n a am ( A) EBI TD |
-7.4 | -1.9 |
| bef nd ( T) Ear nin int EBI st a tax gs ore ere es |
-11 .5 |
-5.4 |
| lida ted t lo ss f he Co or t nso ne yea r |
-8. 1 |
-4. 1 |
| ash flow Fre e c |
-14 .7 |
-10 .4 |
| Ear nin sh ( dilu ted in EU R) gs per are |
-0.0 6 |
-0.0 3 |
| 3/3 1/2 02 0 |
12/ 31 /20 19 |
|
| al a Tot sts sse |
184 .8 |
222 .6 |
| Co lida ted uity nso eq |
10. 7 |
18. 5 |
| Equ o ( ) ity rati in % |
5.8 | 8.3 |
| mb f em loy Nu er o p ees |
903 | 895 |
| Th e G iga Sh set are |
Q 1 2 02 0 |
Q 1 2 01 9 |
| Clo R (a t th nd of t he iod ) sin rice in EU g p e e per |
0.2 8 |
0.4 3 |
| hes R ( he iod ) Hig rice in EU in t t p per |
0.3 7 |
0.5 3 |
| he iod Low ice in EU R ( in t ) est pr per |
0.2 0 |
0.2 7 |
| f sh of t Nu mb s in cir cul atio n (a t th nd he iod ) er o are e e per |
132 45 5, 896 , |
132 45 5, 896 , |
| Ma rke ital EU R m illio n (a t th nd of t he iod ) izat ion in t ca p e e per |
37. 0 |
56. 8 |
The coronavirus pandemic slammed the brakes on the German economy already in the first quarter of 2020 even though the full impact of the crisis was only felt in Germany in the second half of March. Gross domestic product contracted by 2.4 %, that being the steepest drop since the global financial crisis. Compared to other European countries, however, the decline was rather moderate. The contraction of the German economy will be much more severe in the second quarter, for which experts are predicting a double-digit decline.
According to the latest calculations of the Kiel Institute for the World Economy (IfW Kiel), German gross domestic product (GDP) suffered a substantial 2.4 % drop in the first quarter of 2020 compared to the first quarter of last year. A preliminary estimate of the EU statistical office Eurostat shows that economic output in the Eurozone contracted by a total of 3.8 %, the sharpest drop on record for the Eurozone.
However, the negative GDP growth in the first quarter is only a foretaste of what will happen in the second quarter of 2020. The contraction of economic output was mainly concentrated in the second half of March when the measures to contain the coronavirus pandemic took full effect and economic activity was drastically curbed. Although the worst of the crisis was probably in April, a recovery will occur only gradually and a return to normality will take a longer time. Leading indicators suggest that second-quarter GDP could plunge by more than 10 %. That would be the sharpest drop in a 3-month period since the founding of the Federal Republic of Germany.1
Naturally, Gigaset as a provider of telecommunications solutions and consumer electronics was also impacted by the massive reduction of economic output in the first quarter of 2020. The adverse distortions affected all operating segments: Phones, Smartphones, Smart Home and Professional.
1 Source: https://www.ifw-kiel.de/de/publikationen/medieninformationen/2020/corona-deutsches-bip-sinkt-in-q1-um-24-prozent/
Due to the economic shock caused by the coronavirus pandemic and the restrictions imposed by governments in Germany and Europe to combat it, revenues were sharply lower in all product areas except Smart Home.
Although the Company has consistently pushed the expansion of both its own e-commerce activities and those of third parties for years, retail is still the most important sales channel for Gigaset. With around 30,000 retail outlets closed throughout Europe, however, it was impossible for the Company to adequately place and sell its products. The drastic curtailment of public life naturally led to an unprecedented, though understandable economic collapse given the circumstances.
At an early stage of the crisis, Gigaset implemented measures to protect its employees and ensure continued production that were consistent with the hygiene recommendations of the Robert Koch Institute and the German federal government. These included intensive measures to inform employees about potential risks and appropriate behavioral measures, business travel prohibitions, distance rules in production and the temporary shifting of many functions to employees working from home. Thanks to these measures, the Company was able to protect and continue production. Nonetheless, the coronavirus shock necessitated short-time work in all areas of the Company beginning in early April 2020.
Unit sales and revenues in the already strained market environment for DECT cordless telephones reached the planned levels until mid-March when European governments began to impose anticoronavirus restrictions. Ultimately, the store closures and dampened consumption climate in Germany and Europe entailed additional adverse effects on revenues in the first quarter of 2020, above and beyond the already planned and market-driven revenue decline in this segment.
The situation in the Smartphones segment has been especially dire. Numerous distributors exercised their contractually allowed option of returning merchandise. Unsettled by the uncertainty caused by the coronavirus crisis, customers made extensive use of this option.
The Smart Home segment is sending positive signals. Despite the effects of the coronavirus pandemic Gigaset achieved a significant increase in revenues compared to the first quarter of last year thanks to a long-prepared strategic partnership with a leading European telecommunications company.
The Professional segment was also impacted by the coronavirus pandemic in the first quarter of 2020. Unable to predict the duration and consequences of this crisis, business partners adopted a wait-andsee attitude and deferred some projects again.
The Gigaset Group generated total revenues of EUR 32.4 million (prior year: EUR 45.8 million) in the first quarter of 2020. In the consumer business, revenues were subject to the usual seasonal fluctuations. In March 2020, moreover, unit sales and revenues were adversely impacted to a substantial extent by the restrictions imposed throughout Europe to combat the covid-19 pandemic.
Unit sales and revenues in the Phones segment reached the planned levels through mid-March when anti-coronavirus measures were initiated in Europe. Due to the effects of these measures through the end of the first quarter of 2020 and the already difficult market conditions in the Phones segment, total revenues fell by 23.3 % or EUR 7.7 million compared to the first quarter of last year to reach EUR 25.3 million.
Revenues in the Smartphones segment were EUR 5.5 million less than the year-ago figure. The quarantine measures imposed by European governments and the resulting massive curtailment of public life caused a sharp decline in Smartphone sales in the first quarter of 2020. The forced closure of brick-and-mortar retail outlets on a magnitude of roughly 30,000 PoS2 in Europe caused distributors to return devices, as reflected in the negative quarterly revenues of EUR -3.7 million (prior year: EUR 1.8 million).
Despite the effects of the pandemic, Smart Home revenues improved significantly by an amount of EUR 0.6 million or 100.0 % over the year-ago figure, thanks to a long-prepared strategic partnership with a leading European telecommunications company. Compared to the first quarter of last year, revenues doubled to EUR 1.2 million in the first quarter of 2020.
With revenues of EUR 9.6 million (prior year: EUR 10.4 million), the performance of the Professional segment was slightly negative, also due to the pandemic. Companies were so preoccupied with the crisis that many of them postponed or held off on projects and orders for the Professional segment.
| in illi Re EU R m ve nu es on s |
Q 1 2 02 0 |
Q 1 2 01 9 |
Ch in % an ge |
|---|---|---|---|
| Pho nes |
25. 3 |
33. 0 |
-23 .3 |
| ho Sm art p nes |
-3. 7 |
1.8 | -30 5.6 |
| Sm Ho art me |
1.2 | 0.6 | 10 0.0 |
| Pro fes nal sio |
9.6 | 10. 4 |
-7. 7 |
| l Gig t T ota ase |
32 .4 |
.8 45 |
-29 .3 |
In the segment report, revenues are broken down by country based on both the receiving entities and the domicile of each company ("country of domicile").
2 Point of Sale
With respect to Brexit, which officially took effect on January 31, 2020, the revenues generated in the United Kingdom were attributed to the Europe segment until that time due to the country's membership in the European Union. For the period beginning on February 1, 2020, these revenues are now attributed to the Rest of World segment. For this reason, comparability with the prior-year comparison period is limited.
The regional breakdown of revenues by receiving entities is based on the revenues billed in the respective regions, regardless of the domicile of the billing entity. If, for example, a German company issues an invoice to an entity in the Netherlands, the corresponding revenue is attributed to the Europe region for purposes of the regional breakdown by receiving entities. The regional breakdown of revenues is presented in the table below:
| Re in EU R m illi ve nu es on s |
Q 1 2 02 0 |
Q 1 2 01 9 |
Ch in % an ge |
|---|---|---|---|
| Ge rm any |
9.4 | 19. 8 |
-52 .5 |
| e (e xcl ud ) Eur ing Ge op rm any |
16. 5 |
20. 0 |
-17 .5 |
| f W orld Res t o |
6.5 | 6.0 | 8.3 |
| Gig l t T ota ase |
32 .4 |
45 .8 |
-29 .3 |
As part of the segment report by geographical region within the Group, revenues are additionally attributed to the country of domicile of the various legal entities. If, for example, a German company issues an invoice to an entity in the Netherlands, the corresponding revenue is attributed to the country of domicile, i.e. the Germany region. The regional breakdown of revenues by country of domicile is presented in the table below:
| in illi Re EU R m ve nu es on s |
Q 1 2 02 0 |
Q 1 2 01 9 |
Ch in % an ge |
|---|---|---|---|
| Ge rm any |
13. 1 |
23. 1 |
-43 .3 |
| xcl ud Eur e (e ing Ge ) op rm any |
14. 3 |
18. 8 |
-23 .9 |
| f W orld Res t o |
5.0 | 3.9 | 28 .2 |
| l Gig t T ota ase |
32 .4 |
45 .8 |
-29 .3 |
The cost of materials for raw materials, merchandise, finished goods and purchased services amounted to EUR 18.6 million, which was EUR 2.4 million less than the year-ago comparison figure of EUR 20.9 million. Including the change in inventories, the cost of materials ratio came to 53.4 %, which was higher than the year-ago comparison figure (prior year: 47.6 %). This ratio is calculated as the quotient of the cost of materials divided by the sum of revenues and the change in inventories of finished and unfinished goods.
Gross profit, which is calculated as revenues minus the cost of materials and change in inventories and change in inventories of finished and unfinished goods, declined by 29.6 % to EUR 16.2 million for the reporting period. At 46.6 %, the gross profit margin3 was lower than the year-ago figure of 52.4 %.
Other internal production capitalized increased from EUR 1.5 million in the first quarter of last year to EUR 2.2 million in the first quarter of 2020.
The other operating income of EUR 3.1 million was slightly higher than the year-ago figure of EUR 2.9 million.
3 The calculation of the gross profit margin has changed since the first quarter of last year. Beginning in 2020, changes in inventory are attributed to revenues. Therefore, the gross profit is now calculated as gross profit divided by revenues plus changes in inventory.
The personnel expenses for wages, salaries, social security contributions and old age pensions amounted to EUR 15.9 million, that being EUR 1.0 million higher than the year-ago figure. The personnel expenses ratio4 came to 45.7 % (prior year: 33.8 %).
Other operating expenses were incurred in the amount of EUR 13.1 million (prior year: EUR 14.4 million) in the reporting period.
The earnings before interest, taxes, depreciation and amortization (EBITDA) amounted to EUR -7.4 million (prior year: EUR -1.9 million). After deduction of depreciation, amortization and impairments in the amount of EUR 4.0 million (prior year: EUR 3.5 million), earnings before interest and taxes (EBIT) amounted to EUR -11.5 million (prior year: EUR -5.4 million).
After deducting the financial result in the amount of EUR -0.2 million (prior year: EUR -0.4 million), the result from ordinary activities amounted to EUR -11.6 million (prior year: EUR -5.7 million).
The consolidated loss for the period from January 1 to March 31, 2020 amounted to EUR -8.1 million (prior year: EUR -4.1 million).
This yields earnings per share of EUR -0.06 (undiluted/ diluted) (prior year: EUR -0.03 (undiluted/diluted)).
The Company's cashflows are presented in the table below:
| shf low illi Ca s in EU R m on s |
Q 1 2 02 0 |
Q 1 2 01 9 |
|---|---|---|
| hflo w f Cas tin ctiv itie rom op era g a s |
-11 .7 |
-8.3 |
| Cas hflo w f inv ing tivi ties est rom ac |
-3.0 | -2. 1 |
| Fre e C ash flow |
-14 .7 |
-10 .4 |
| Cas hflo w f fin ing tivi ties rom anc ac |
-1.6 | -0.8 |
In the first quarter of 2020, the Gigaset Group generated a cash outflow from operating activities in the amount of EUR -11.7 million (prior year: cash outflow EUR -8.3 million). This resulted mainly from payments on account of trade payables, other provisions and other liabilities in the amount of EUR 30.0 million, and the increase in inventories in the amount of EUR 2.6 million, together with cash inflows from payments received on account of trade receivables and other assets in the amount of EUR 27.3 million.
The cash outflow from investing activities amounted to EUR -3.0 million, after EUR -2.1 million in the first quarter of last year. Most investments in the reporting period and previous year related to internal production capitalized for the development of new products and solutions.
The cash outflow from financing activities amounted to EUR -1.6 million (prior year: EUR -0.8 million) and resulted from the credit facility taken out in 2018. The Company began to repay the loan at the beginning of the 2020 financial year, which was the main reason for the year-over-year increase.
4 The calculation of the personnel expenses ratio has changed since the first quarter of last year. Beginning in 2020, changes in inventory are attributed to revenues. Therefore, the personnel expenses ratio is now calculated as personnel expenses divided by revenues plus changes in inventory.
Please refer to the statement of cashflows for a detailed account of the development of cash and cash equivalents. Exchange rate changes of EUR -0.2 million (prior year: EUR 0.1 million) were included in the cashflow. Cash and cash equivalents amounted to EUR 20.0 million as of March 31, 2020 (prior year: EUR 25.8 million).
As of March 31, 2020, the total assets of the Gigaset Group amounted to EUR 184.8 million, indicative of a significant reduction compared to December 31, 2019 (EUR 222.6 million).
Compared to December 31, 2019, noncurrent assets increased by EUR 2.9 million to EUR 81.3 million. This increase resulted mainly from an addition to deferred tax assets as of March 31, 2020.
Current assets accounted for 56.0 % of total assets. Compared to the previous year, they declined by EUR 40.7 million to EUR 103.5 million. The biggest drivers of the decrease were trade payables, which declined by EUR 18.4 million, and cash and cash equivalents, which declined by EUR 16.6 million. Please refer to the statement of cashflows in the quarterly report for details on the development of cash and cash equivalents.
Total liabilities amounted to EUR 174.1 million (December 31, 2019 EUR 204.1 million), of which 34.6 % are current.
The Gigaset Group's equity amounted to EUR 10.7 million as of March 31, 2020 and was EUR -7.9 million lower than at the beginning of the year. This corresponds to an equity ratio of 5.8 %, as compared to 8.3 % as of December 31, 2019. Including deferred taxes, cashflow hedging resulted in a positive effect of EUR 0.4 million, which was recognized directly in equity with no effect on the income statement. The consolidated net loss amounted to EUR 8.1 million, causing a negative effect of the same amount in consolidated equity. All effects on equity are described in the section entitled "Development of consolidated equity".
Noncurrent liabilities were mainly composed of pension obligations and financial liabilities. Noncurrent liabilities amounted to EUR 113.9 million as of the reporting date of March 31, 2020, indicative of a year-over-year increase of EUR 4.6 million. The increase resulted mainly from a EUR 3.0 million increase in noncurrent financial liabilities and a EUR 1.3 million increase in pension obligations.
The current liabilities of EUR 60.2 million were about EUR 36.5 % less than as of December 31, 2019. The decrease resulted mainly from the reduction of trade payables, which declined from EUR 51.2 million to EUR 31.3 million as of March 31, 2020. Other contributing factors were the EUR 6.4 million decrease in current provisions, the EUR 4.3 million decrease in other liabilities, and the EUR 3.6 million decrease in current financial liabilities.
In view of the inestimable effects of the coronavirus pandemic and the Company's strong dependence on external factors it cannot influence itself, i.e. government decisions regarding stay-at-home orders, business and border closures, and the duration and further development of the pandemic itself, the Company will not offer a detailed forecast for 2020 as it would not be reliable due to the unique nature of the current situation. As a consequence of the crisis, however, a general reduction of relevant key indicators compared to the previous year is expected. The statements made by the Managing Board in the Forecast Report section of the 2019 Annual Report (as of early March 2020) for the current financial year are no longer applicable due to the adverse effects of the coronavirus pandemic
According to its latest forecast, the IMF anticipates a worldwide recession that will be much worse than the effects of the economic crisis in 2012. According to the IMF, the German economy will contract by 7 % and the Italian economy by 9.1 % year-over-year. Economic output in the Eurozone will decline by 7.5 %. For 2021, however, the IMF anticipates a recovery and economic growth of 4.7 % for the 19 countries of the Eurozone, assuming that the economic effects of the pandemic are brought under control in the second quarter of 2020.5
The further course of the pandemic in Germany, Europe and the world is not foreseeable at the present time. The two main factors in this context are the duration and severity of the pandemic. At the time of preparation of the report for the first quarter of 2020, Eurozone countries were in the process of cautiously relaxing the rigid measures imposed in the first quarter. If this trend continues or better yet, a quick return to normal life is possible, the economic effects for Gigaset would be less severe than if a renewed lockdown in Germany or Europe becomes necessary. Consumer sentiment will also play a major role. Short-time work and looming insolvencies are already undermining consumer behavior. Depending on the further course of the crisis and the resulting consequences, consumer sentiment will either normalize or worsen considerably.
With reference to the general assessment of the Managing Board for 2020 and given this and numerous other uncertainties described above, a reliable forecast for 2020 is not possible at this time.
5 Source: https://www.tagesschau.de/wirtschaft/corona-krise-iwf-101.html
| EU R'0 00 |
/- 3/3 1/1 1/2 02 0 |
/ - 3/3 1/1 1/2 01 9 |
|---|---|---|
| Rev en ues |
32, 388 |
45, 816 |
| Ch f fin ish ed and fin ish ed od e in inv orie ent ang s o un go s |
2, 396 |
-1, 840 |
| cha sed od nd Pur vic go s a ser es |
-18 559 , |
-20 927 , |
| Gro fit ss pro |
16, 22 5 |
23 04 9 , |
| Oth l pr od ital d er i ion ize nte uct rna ca p |
2, 218 |
1, 49 7 |
| Oth atin inc er o per g om e |
3, 109 |
2, 853 |
| nel Per son ex pen ses |
-15 890 , |
-14 846 , |
| Oth atin er o per g e xpe nse s |
-13 099 , |
425 -14 , |
| EB ITD A |
-7, 43 7 |
-1, 87 2 |
| De nd cia tio izat ion ort pre n a am |
-4, 023 |
-3, 502 |
| EB IT |
-11 46 0 , |
-5, 37 4 |
| Oth d s lar er i imi inc nte t an res om e |
182 | 7 |
| d s lar Inte imi t an res exp ens es |
-35 8 |
-35 7 |
| Fin cia l re sul t an |
-17 6 |
-35 0 |
| Res ult fro rdi ctiv itie m o na ry a s |
-11 63 6 , |
-5, 72 4 |
| Inc e ta om xes |
3, 573 |
1, 639 |
| Co lid d n los s fo r th ate et nso e y ear |
-8, 06 3 |
-4, 08 5 |
| Ear nin r sh gs pe are |
||
| nd ilut ed ( ic) ‒ U Bas in E UR |
-0.0 6 |
-0.0 3 |
| ‒ D ilut ed in E UR |
-0.0 6 |
-0.0 3 |
11
| R'0 EU 00 |
/- 3/3 1/1 1/2 02 0 |
/ - 3/3 1/1 1/2 01 9 |
|---|---|---|
| lid d n los s fo r th Co ate et nso e y ear |
-8, 06 3 |
-4, 08 5 |
| Item s th sib ly be lass ifie d t rof r lo late it o r tim at m t a ay pos rec o p ss a e |
||
| Cu nsl atio han tra rre ncy n c ges |
-34 0 |
0 |
| hflo w h edg Cas es |
513 | 403 |
| ed the Inc niz item e ta om xes rec og on se s |
-16 3 |
-12 8 |
| s th ill n be lass ifie d t rof r lo late Item it o r tim at w ot t a rec o p ss a e |
||
| Rev alu ffec et d ebt of def d b fit lan s b efo atio ine sio re i t, n tax n e ene pen n p nco me es |
0 | -7, 069 |
| Fin ial Fai r Va lue th h O the r Co reh Inc e ( FVO CI) ins ive tru nts at anc me rou g mp ens om |
200 | 200 |
| Inc niz ed thi s it e ta om xes rec og on em |
0 | 2, 248 |
| fit To tal ch niz ed in los ot an ge s n rec og pro or s |
21 0 |
-4, 34 6 |
| To tal in nd niz ed com e a ex pe nse s re cog |
85 3 -7, |
-8, 43 1 |
| EU R'0 00 |
3/3 1/2 02 0 |
12/ 31 /20 19 |
|---|---|---|
| AS SET S |
||
| No nt ets ncu rre ass |
||
| ible Inta set ng as s |
33, 824 |
33, 757 |
| lan d e Pro ipm ty, t an ent per p qu |
22, 670 |
23, 284 |
| Rig ht o f us ts e a sse |
3, 906 |
4, 33 1 |
| Fin ial ets anc ass |
7, 886 |
7, 686 |
| De fer red tax set as s |
13, 025 |
9, 374 |
| tal To nt ets no ncu rre ass |
81 31 1 , |
78 43 2 , |
| Cu nt ets rre ass |
||
| Inv orie ent s |
37, 847 |
35, 246 |
| Tra de eiv abl rec es |
26, 972 |
45, 41 7 |
| Oth ts er a sse |
18, 355 |
26, 670 |
| ref und cla Tax ims |
300 | 293 |
| h a nd h e len Cas iva ts cas qu |
19, 998 |
36, 557 |
| To tal nt ets cu rre ass |
10 3, 47 2 |
144 18 3 , |
| To tal set as s |
184 78 3 , |
22 2, 61 5 |
| EU R'0 00 |
3/3 1/2 02 0 |
12/ /20 31 19 |
|---|---|---|
| EQ UIT Y A ND LIA BIL ITIE S |
||
| Eq uit y |
||
| Sub ibe d c ital scr ap |
132 456 , |
132 456 , |
| Ad dit al p aid ital ion -in cap |
86, 076 |
86, 076 |
| Ret ain ed nin ear gs |
68, 979 |
68, 979 |
| Acc ula ted her reh ive uity ot um co mp ens eq |
-27 6, 82 1 |
-26 8, 968 |
| To tal uit eq y |
10, 69 0 |
18, 54 3 |
| liab ilit No ies nt ncu rre |
||
| Pen blig sio atio n o ns |
93, 822 |
92, 50 1 |
| Pro vis ion s |
3, 283 |
2, 983 |
| ial liab iliti Fin anc es |
13, 203 |
10, 176 |
| liab iliti Lea se es |
2, 425 |
2, 827 |
| fer red lia bili De ties tax |
1, 125 |
760 |
| tal liab ilit To ies nt no ncu rre |
11 3, 85 8 |
10 9, 24 7 |
| Cu liab ilit ies nt rre |
||
| Pro vis ion s |
8, 322 |
770 14, |
| ial liab iliti Fin anc es |
2, 148 |
5, 724 |
| liab iliti Lea se es |
1, 526 |
1, 563 |
| de abl Tra pay es |
31, 274 |
51, 247 |
| Tax lia bili ties |
4, 686 |
4, 945 |
| Oth er l iab iliti es |
12, 279 |
16, 576 |
| To tal liab ilit ies nt cu rre |
60 23 5 , |
94 82 5 , |
| To tal uit nd lia bil itie eq y a s |
184 78 3 , |
22 2, 61 5 |
| EU R'0 00 |
d cap Sub ibe scr ital |
Ad dit ion al p aid - in c ital ap |
Ret ed ear ain nin gs |
Acc ula ted um oth er hen siv com pre e ity equ |
Con sol ida ted ity equ |
|
|---|---|---|---|---|---|---|
| De be r 3 1, 20 18 cem |
13 2, 45 6 |
86 07 6 , |
68 97 9 , |
-26 2, 49 0 |
25 02 1 , |
|
| 1 | lida ted t lo Co ss 2 019 nso ne |
0 | 0 | 0 | -4, 085 |
-4, 085 |
| 2 | nsl n d iffe Cu atio tra rre ncy ren ces |
0 | 0 | 0 | 0 | 0 |
| 3 | hflo Cas w h edg es |
0 | 0 | 0 | 27 5 |
27 5 |
| 4 | Fin ial ins d a t Fa ir V alu e th h O the r Co reh ive Inc e ( FVO CI) tru nts anc me m eas ure rou g mp ens om |
0 | 0 | 0 | 20 0 |
20 0 |
| 5 | Rev alu ffec ts f de fine d b fit lan atio sio n e rom ene pen n p s |
0 | 0 | 0 | -4, 82 1 |
-4, 82 1 |
| 6 | al c han ed rof r lo Tot niz in p it o t re ges no cog ss |
0 | 0 | 0 | -4, 346 |
-4, 346 |
| 7 | To tal t in e ( 6) 1+ ne com |
0 | 0 | 0 | -8, 43 1 |
-8, 43 1 |
| Ma rch 31 20 19 , |
13 2, 6 45 |
86 07 6 , |
68 97 9 , |
-27 0, 92 1 |
16, 59 0 |
|
| be De r 3 1, 20 19 cem |
13 2, 6 45 |
86 07 6 , |
68 97 9 , |
-26 8, 96 8 |
18, 3 54 |
|
| 1 | Co lida ted t lo ss 2 020 nso ne |
0 | 0 | 0 | -8, 063 |
-8, 063 |
| 2 | Cu nsl n d iffe atio tra rre ncy ren ces |
0 | 0 | 0 | -34 0 |
-34 0 |
| 3 | Cas hflo w h edg es |
0 | 0 | 0 | 35 0 |
35 0 |
| 4 | ial d a alu e th h O the r Co reh e ( FVO CI) Fin ins t Fa ir V ive Inc tru nts anc me m eas ure rou g mp ens om |
0 | 0 | 0 | 20 0 |
20 0 |
| 5 | alu ffec ts f de fine d b fit lan Rev atio sio n e rom ene pen n p s |
0 | 0 | 0 | 0 | 0 |
| 6 | al c han ed rof r lo Tot niz in p it o t re ges no cog ss |
0 | 0 | 0 | 21 0 |
21 0 |
| 7 | tal e ( 6) To t in 1+ ne com |
0 | 0 | 0 | -7, 85 3 |
-7, 85 3 |
| rch Ma 31 20 20 , |
13 2, 45 6 |
86 07 6 , |
68 97 9 , |
-27 6, 82 1 |
10, 69 0 |
| R'0 EU 00 |
/- 3/3 1/1 |
/ - 3/3 1/1 |
|---|---|---|
| 1/2 02 0 |
1/2 01 9 |
|
| ult fro rdi Res ctiv itie m o na ry a s |
-11 63 6 , |
-5, 72 4 |
| of De cia tio nd izat ion lan d e ipm d in ible ort ty, t an ent tan set pre n a am pro per p qu an g as s |
023 4, |
3, 502 |
| Inc (+ ) / dec (- ) in p ion ovi sio rea se rea se ens pr ns |
1, 32 1 |
131 |
| in ( -) los s (+ ) o he sale of Ga / n t nt a tes no ncu rre sse |
61 | -9 |
| Ga in ( -) / los s (+ ) fro nsl atio tra m c urr enc y n |
1, 000 |
-18 7 |
| Ne t in inc ter est om e |
176 | 350 |
| ved Inte cei t re res |
3 | 1 |
| id Inc e ta om xes pa |
-89 | -11 4 |
| dec Inc (- ) / (+ ) in i ries nto rea se rea se nve |
-2, 60 1 |
-2, 569 |
| Inc (- ) / dec (+ ) in t rad cei vab les and her ot set rea se rea se e re as s |
27, 273 |
11, 378 |
| Inc (- ) / dec (+ ) rad ble the r lia bili d o the in t ties isio rea se rea se e p aya s, o an r p rov ns |
-30 047 , |
-15 075 , |
| (- ) / dec (+ ) the of the of fina al p Inc in o r ite nci osi tio sta tem ent rea se rea se ms n |
-1, 162 |
44 |
| Ca sh inf low (+ ) /ou tflo w ( -) fro ing tiv itie s (n hfl ) rat et m o pe ac cas ow |
-11 67 8 , |
-8, 27 2 |
| ds fro he sale of Pro m t nt a ts cee no ncu rre sse |
0 | 9 |
| of Pay inv in nts est nts nt a ts me me no ncu rre sse |
-3, 013 |
-2, 134 |
| Ca sh inf low (+ ) /ou tflo w ( -) fro inv ing tiv itie est m ac s |
-3, 01 3 |
-2, 12 5 |
| ash flo Fre e c w |
-14 69 1 , |
-10 39 7 , |
| hflo fro f cu nt f Cas he bo win (+ ) / re (- ) o ina nci al l iab iliti m t nt ws rro g pay me rre es |
-58 8 |
0 |
| hflo fro he bo f no nt f al l iab iliti Cas win ina nci m t ws rro g o ncu rre es |
39 | 0 |
| Pay fo r le lia bili ties nts me ase |
-54 7 |
-31 5 |
| aid Inte t p res |
9 -54 |
-47 1 |
| inf tflo fro m f Ca sh low (+ ) /ou w ( -) ina nci tiv itie ng ac s |
-1, 64 5 |
-78 6 |
| h a nd h e len t b of iod Cas iva inn ing ts a cas qu eg per |
33, 980 |
33, 914 |
| Ch du cha e d iffe e to rat ang es ex nge ren ces |
-22 3 |
72 |
| Cas h a nd h e len t b of iod d a los cha iva inn ing rior ing ts a t p rat cas qu eg per , m eas ure -ye ar c ex nge e |
34, 203 |
33, 842 |
| Inc (- ) / dec (+ ) ed h in r rict est rea se rea se cas |
677 | 287 |
| Ch e in sh and sh uiv ale nts ang ca ca eq |
-16 336 , |
-11 183 , |
| Ca sh d c ash uiv ale d o f p eri od nts at an eq en |
18, 32 1 |
23 01 8 , |
| ted sh Res tric ca |
1, 677 |
2, 810 |
| sh d c ash ale of fin l po Ca uiv cia siti nts r st ate nt an eq pe me an on |
19, 99 8 |
25 82 8 , |
| Ju 4, 20 20 ne |
l ge l m (v l) An ing 20 20 irtu eet nu a ne ra a |
|---|---|
| Se be r 2 4, 20 20 tem p |
Sem l fin l re ian cia rt 2 020 nu a an po |
November 26, 2020 Interim financial report for Q3 2020
Gigaset AG Bernhard-Wicki-Str. 5 80636 Munich
Phone: +49 (0) 89 / 444 456 866 [email protected], www.gigaset.ag
Gigaset AG Investor Relations & Corporate Communications
Raphael Dörr SVP Corporate Communications & Investor Relations | SVP Sponsoring
Gigaset AG Bernhard-Wicki-Str. 5 80636 Munich Phone: +49 (0) 89 / 444 456 866 Mail: [email protected]
6 Subject to change
Building tools?
Free accounts include 100 API calls/year for testing.
Have a question? We'll get back to you promptly.