Asetek A/S

Asetek - Update to Full Year 2020 Guidance

August 18, 2020 - Asetek today updated its full-year 2020 revenue and pre-tax

profit expectations due to continued strong demand for Gaming and Enthusiast

products and corresponding recent improvements in supply chain capabilities that

enable this demand to be serviced.

Asetek expects to report an increase in Group revenue of 15% to 25% in 2020

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

Company expects an income before tax of about $7-8 million.

This is the second update to full-year expectations published by the Company in

2020. The previous expectations, which were communicated on July 21 and

reiterated in the second-quarter report, were for a revenue increase of 5% to

15% compared with 2019, an increase in gross margin from 2019 and 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: [email protected]

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