Cherry AG — Investor Presentation 2024

Nov 18, 2024

CHERRY\$

CHERRY SE

EQUITYFORUM WINTER 1-ON-1 SUMMIT 2024

18 NOVEMBER 2024

LEGAL DISCLAIMER

This presentation contains forward-looking statements.
These statements are based on the current views, expectations and assumptions of the management of Cherry SE and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. Actual results, performance or events may differ materially from those described herein due to factors affecting Cherry SE such as, among other things, changes in the general economic and competitive environment, capital market risks, currency exchange rate fluctuations and competition from other companies, and changes in international and national laws and regulations, in particular with respect to tax laws and regulations. Cherry SE does not assume any obligation to update any forwardlooking statements.
The information contained in this presentation is for background purposes only and does not purport to be full or complete. No reliance may be placed, for any purpose, on the information contained herein or its accuracy or completeness. The information in this presentation is subject to change.

MARKET \& INDUSTRY DATA

This presentation also contains estimates and other statistical data made by independent parties and by the Company relating to the Company's industry, the Company's business and the market for the Company's products and its future growth. This data involves a number of assumptions and limitations, and you are cautioned not to give undue weight to such estimates. In addition, projections, assumptions, and estimates of the Company's future performance and the future performance of the market for its products are necessarily subject to a high degree of uncertainty and risk.

GENERAL REMARK

Figures may not add up due to rounding.

03/9M 2024 OVERVIEW

IN Q3 WE MISSED OUR OWN EXPECTATIONS

OOP. too dependent on Germany

Lackluster corporates and consumer spending
Inadequate market assessment and insufficient channel management

Components hit by weak notebook market

OOP. 12 m revenue shortfall

Adj. EBITDA margin negative instead of 5-6\%

EUR 6 m cash burnt in the quarter

Q3/9M 2024 FINANCIALS

Q3 P\&L HIT BY MARKET UNCERTAINTIES

9M REVENUE
(IN EUR M)

• 9M revenue at EUR 84m
• Q3 revenue miss from GOP and Components
• Resulting EUR 6m gross profit hit led to impaired fixed cost coverage
• 9M adj. EBITDA at EUR -0.7 m
• Q3 adj. EBITDA at EUR -3.1 m instead on EUR 2m targeted

9M ADJ. EBITDA
(IN EUR M; MGN. IN \%)

9M 2022
9M 2023
9M 2024

Q3 REVENUE AND ADJ. EBITDA SPLIT

REVENUE SPLIT (IN EUR M)

INVENTORY MANAGEMENT

INVENTORIES (in EUR m)

TRADE WORKING CAPITAL* (in EUR m)

Q1 23 Q2 23 Q3 23 Q4 23 Q1 24 Q2 24 Q3 24

EUR 3.5M COST CUTTING PROGRAM INITIATED

SERVICES

NEW RETAIL PRESENCE AS OF Q4 2024

RED BULL GAMING GARDEN SPONSORSHIP

NEW E-SPORTS HOTSPOT AT SAP GARDEN IN MUNICH TO BE EQUIPPED WITH XTRFY PERIPHERALS ... LOCATED UNDER CHERRY BLOSSOM TREES

NEW ORGANIZATIONAL STRUCTURE AND REVISED PARTNER PROGRAM 2025

NEW PERIPHERALS SALES AND MARKETING UNIT FOR GAMING, OFFICE, AND HYGIENE FINISHED GOODS

COMPONENTS TO BE CLOSELY ALIGNED WITH NEW PRODUCT MANAGEMENT AND DEVELOPMENT UNIT

CLEARLY STRUCTURED PRODUCT PORTFOLIO WITH UNIFORM BRAND PRESENCE AND MARKETING PARAMETERS

DIGITAL HEALTH\& SOLUTIONS MANAGED SEPARATELY TO ACCOUNT FOR HEALTHCARE MARKET SPECIFICS

NEW PARTNER PROGRAM FOR DISTRIBUTORS AND RESELLERS INTRODUCING A NEW PRICING AND MARGIN STRUCTURE

NEW SVP GLOBAL SALES AND MARKETING PERIPHERALS

DIGITAL HEALTHCARE SOLUTIONS GLOBALLY ON THE RISE

GLOBAL DIGITAL HEALTH MARKET

[^0]
[^0]: 6 - 8
Digital medical consultations p.a. per average German

DIGITAL HEALTH MARKET TO GROW C. 10\% P.A. UNTIL THE END OF THE DECADE

DIGITAL HEALTH MARKET REVENUE EUROPE AND GERMANY (in EUR bn)

DIGITAL HEALTH - ROLL-OUT OF NEW SERVICES

FROM MARKET LEADING POSITION IN E-HEALTH TERMINALS TO COMPLEMENTING NEW SW \& SERVICE OFFERINGS

CURRENT PRODUCTS

FY 2024 FORECAST

2024 REVENUES* C. EUR 120M

2023

2024 ADJ. EBITDA* MGN. OF C. 3\%

[^0]
[^0]: * Revised from a revenue range of EUR $140-150 \mathrm{~m}$ and an adj. EBITDA margin range of $7-8 \%$ previously

IR CONTACT

NICOLE SCHILLINGER
SVP INVESTOR RELATIONS

EMAIL: IR@CHERRY.DE
PHONE: +49 96432061848
WEB: HTTPS://IR.CHERRY.DE