Gigaset reports a decline in sales from 107.1 million euros to 75.8 million euros for the first half of the current year. On an EBITDA basis, the Munich-based company reports a loss of 8.0 million euros, after having achieved an EBITDA profit of 6.7 million euros in the same period of the previous year. The bottom line is that the half-year result deteriorated by 11.8 million euros, with Gigaset reporting a loss of 11.3 million euros. The free cash flow has also decreased and the minus increased by 0.6 million euros to 7.4 million euros.
“In the first half of 2020, every business area of the company was affected by the negative economic consequences of the corona pandemic. In other European countries in particular, the restrictions on public life, such as shop closings and lockdowns, sometimes lasted well into June, ”says Thomas Schuchardt, CFO of Gigaset AG. “However, we expect business activities to normalize in the second half of the year, as well as additional catch-up effects from Q1 and Q2,” said the manager.
With a view to the consequences of the corona pandemic, Gigaset did not give a specific forecast for 2020 on Thursday.
At a glance – chart and news: Gigaset