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DGAP-News: Gigaset AG / Key word(s): Quarterly / Interim Statement/Half Year Report
Bocholt, September 16, 2021 - Gigaset AG (ISIN: DE0005156004), an international communications technology company, today published its report for the second quarter and first half of 2021. The gradual easing of government measures to combat the Corona pandemic, as well as the vaccination campaigns gaining momentum, led to a significant increase in revenues (+18.6%) and EBITDA in the second quarter. In the first half of 2021, Gigaset was thus able to increase revenue by a total of 34.6% and generate a clearly positive EBITDA.
Compared to the same period of the previous year, sales in Q2 2021 amounted to EUR 51.5 million (Q2 2020: EUR 43.5 million). Earnings before interest, taxes, depreciation and amortization (EBITDA) improved to EUR 2.7 million - compared to EUR -0.6 million in Q2 2020. Revenue in the first half of 2021 totalled EUR 102.0 million, compared to EUR 75.8 million in the same period of the previous year. The EBITDA for the entire first half of 2021 was also significantly higher than the previous year at EUR 4.2 million (H1 2020: EUR -8.0 million).
The Corona crisis and the associated effects are not yet over for us either," says Thomas Schuchardt, CFO of Gigaset AG. "The fact that all business areas from Phones, Smartphones, Smart Home to Professional developed positively in the second quarter of 2021 compared to the same period of the previous year is all the more pleasing and a great success at this time. All in all, we are therefore confident about the future. We want to consistently exploit the opportunities presented to us by accelerated digitization in both private and professional contexts for growth, but at the same time we must also face the challenge of material availability."
Growth opportunities through digitization
Business performance by business area
The market environment in the Phones segment remains challenging. However, business in this area is still benefiting in particular from the increased proportion of people working from home in the wake of the ongoing Corona pandemic. Demand for fixed-line phones has boosted sales significantly, especially in online retailing. As a result, sales of Phones increased by 24.0% year-on-year to EUR 70.3 million in the first half of 2021 (H1 2020: EUR 56.7 million).
The smartphones business unit is clearly recovering from the massive impact of the Corona crisis. After the already very successful first quarter, the revenue continued to grow in the second quarter. For the entire first half of 2021, it totaled EUR 8.2 million (H1 2020: EUR 0.2 million).
We are not satisfied with the current sales development in the smart home segment. In the first half of the year it amounted to EUR 0.8 million compared to EUR 1.3 million in the same period of the previous year. Gigaset sees two main reasons for this development: a market development that was not predicted by market researchers and the dominance of smart comfort and entertainment devices in these forecasts compared to the smart solutions offered by Gigaset in the areas of security or energy management.
In the Professional business unit, however, sales continued to develop positively. The main reason for this is likely to be catch-up effects due to the Corona-related postponement of projects and orders by customers. Sales in this area climbed to EUR 22.7 million in the first half of the year, compared to EUR 17.6 million in the same period of the previous year.
"After the crisis year 2020, we are very pleased with the good half-year figures," said Klaus Weßing, CEO of Gigaset AG. "They prove that we took the right measures and decisions in the face of the unprecedented Corona crisis. This has laid the foundation for the company's further positive development. Through continuous investments in innovative new products and the closely related digitization, as well as the successful conclusion of long-term cooperations, we will hold our own well in the market - I am convinced of that."
Explanatory notes on the outlook for 2021
From Gigaset's perspective, there is still a great deal of uncertainty regarding the medium and long-term effects of the pandemic in 2021. In view of this projection, Gigaset continues to see itself as being largely dependent on external factors beyond its control - i.e. decisions by governments regarding curfews and business and border closures as well as the duration and further development of the pandemic itself.
The greatest uncertainty is in the area of material availability. It may not be possible to ensure constant utilization of production capacities due to the existing shortage on the procurement market, e.g. for chips. At present, there is no clear outlook for the future, particularly in the area of semiconductors. Gigaset, like many other industries, has to face this uncertainty in the procurement of materials. The long-standing and established business relationships with partners will be an advantage here.
Executive Board's overall assessment for 2021
16.09.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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