Cherry AG

Earnings Release • Feb 27, 2025

Key Group Figures (IFRS)*

€ million / as reported	Oct 1 - Dec 31, 2024	Oct 1 - Dec 31, 2023	Change	Jan 1 - Dec 31, 2024	Jan 1 - Dec 31, 2023	Change
Revenue ${ }^{a}$	25.8	37.9	$-31.9 \%$	110.0	126.5	$-13.0 \%$
thereof GAMING \& OFFICE PERIPHERALS	15.8	27.3	$-42.1 \%$	72.2	92.6	$-22.0 \%$
thereof DIGITAL HEALTH \& SOLUTIONS	7.8	8.2	$-4.9 \%$	30.4	23.0	32.2\%
thereof COMPONENTS	2.2	2.3	$-4.3 \%$	7.4	10.9	$-32.1 \%$
EBITDA	$-3.4$	$-7.2$	$52.8 \%$	$-6.8$	$-10.3$	34.0\%
EBITDA (adjusted) ${ }^{b}$	$-1.5$	0.1	$-1600.0 \%$	$-2.2$	2.1	$-204.8 \%$
EBITDA margin	$-13.0 \%$	$-19.0 \%$	6.0 PP.	$-6.2 \%$	$-8.1 \%$	1.9 PP.
EBITDA margin (adjusted) ${ }^{b}$	$-5.6 \%$	$0.4 \%$	$-6.0 \mathrm{PP}$.	$-2.0 \%$	$1.6 \%$	$-3.6 \mathrm{PP}$.
Cash flow from operating activities	10.8	3.9	$176.9 \%$	2.8	$-27.9$	110.0\%
Cash flow from investing activities	$-3.1$	$-0.7$	$-342.9 \%$	$-9.1$	$-10.8$	15.7\%
Free cash flow	7.8	3.2	$143.8 \%$	$-6.3$	$-38.7$	83.7\%
€ million / as reported	Dec 31, 2024		Dec 31, 2023		Change
Cash and cash equivalents	16.6		46.1		$-64.4 \%$
Net Working Capital ${ }^{c}$	45.2		55.9		$-19.1 \%$
Trade Working Capital ${ }^{b}$	55.8		75.2		$-26.9 \%$
- Inventories	58.7		62.4		$-5.9 \%$
- Current trade receivables	20.5		30.6		$-33.0 \%$
- Current trade liabilities	$-24.3$		$-17.8$		$-36.5 \%$
Net cash I ( + ) / net debt I ( - )	$-10.0$		0.9		$-1211.1 \%$
Net cash II / net debt II ( - )	$-27.2$		$-19.7$		$-38.1 \%$
Full-time employees	381		444		$-14.2 \%$

Consolidated group revenue.
'Adjusted for one-time and/or non-operating items.
${ }^{a}$ Balance of current assets (excluding cash and cash equivalents) and current liabilities (excluding financial debts).
${ }^{b}$ Balance of inventories, current trade receivables, and current trade liabilities.
${ }^{c}$ Liabilities to banks less cash and cash equivalents.
${ }^{d}$ Liabilities to banks, current and non-current lease liabilities, and pensions obligations, less cash and cash equivalents.

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[^0]: * The information provided herein represents preliminary figures as of February 27, 2025 and therefore, may still be subject to change.