Asetek A/S

Earnings Release • Jul 21, 2020

Asetek - Update to Full Year 2020 Guidance

Asetek - Update to Full Year 2020 Guidance

July 21 2020 - Asetek communicated in the annual report for 2019 and the first

quarter report for 2020, that the company expected a decline in Group revenue of

5% to 10% in 2020 compared with 2019. Gross margins were expected to increase

from 2019 and the Company expected a positive income before tax.

Following an increase to sales expectations for the rest of 2020, primarily

driven strong demand for the Gaming and Enthusiast product group, Asetek updates

the full year 2020 expectations to a Group revenue increase of 5% to 15%

compared with 2019. Gross margin is expected to increase from 2019, and Asetek

expects an income before tax of about $4-5 million.

The Company recognizes significant uncertainty related to potential impact from

COVID-19 over time. Any such uncertainty is not included in the expectations for

the remainder of 2020.

About Asetek

Asetek, the creator of the all-in-one liquid cooler, is the global leader for

liquid cooling solutions for high performance gaming and enthusiast PCs, and

environmentally aware data centers. Founded in 2000, Asetek is headquartered in

Denmark and has operations in China, Taiwan and the United States. Asetek is

listed on the Oslo Stock Exchange (ASETEK.OL).

For further information, please contact:

CEO and Founder André S. Eriksen

+45 2125 7076, email: ceo@asetek.com