Asetek A/S

Asetek - Update to Full Year 2020 Guidance

October 19, 2020 - Asetek today updated its full-year 2020 revenue and pre-tax

profit expectations due to continued strong demand.

Asetek expects to report an increase in Group revenue of 25% to 30% in 2020

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

Company expects an income before tax of about $9-10 million.

The previous revenue and pre-tax profit expectations, announced on August 18,

were for revenue growth of 15% to 25% in 2020 compared with 2019 and an expected

income before tax of about $7-8 million.

While the Company has experienced strong demand year-to-date 2020, the Company

recognizes uncertainty related to potential future 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: [email protected]

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