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Gigaset AG (GGS.F)

Frankfurt - Frankfurt Delayed price. Currency in EUR
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0.3630-0.0030 (-0.82%)
At close: 10:41AM CEST
Full screen
Previous close0.3660
Open0.3620
Bid0.0000 x 885000
Ask0.0000 x 816400
Day's range0.3620 - 0.3630
52-week range0.1720 - 0.4500
Volume4,500
Avg. volume13,770
Market cap48.214M
Beta (5Y monthly)1.18
PE ratio (TTM)N/A
EPS (TTM)-0.0300
Earnings dateN/A
Forward dividend & yieldN/A (N/A)
Ex-dividend date22 Jun 2007
1y target estN/A
  • EQS Group

    Ralf Lueb announced as SVP Sales at Gigaset: Former VP Sales will take over the global management of Gigaset's sales activities

    DGAP-News: Gigaset AG / Key word(s): Personnel28.06.2021 / 16:29 The issuer is solely responsible for the content of this announcement.Press releaseMunich, June 28, 2021Ralf Lueb announced as SVP Sales at GigasetFormer VP Sales will take over the global management of Gigaset's sales activitiesRalf Lueb (49), previously VP Sales at Gigaset, will take over overall responsibility for Gigaset's global sales activities in around 56 countries worldwide as SVP Sales from July 1st, 2021. Lueb succeeds M

  • EQS Group

    Gigaset AG publishes report on the first quarter of 2021 - Fixed network renaissance continues. Phones segment grows revenue by 40% year over year

    DGAP-News: Gigaset AG / Key word(s): Quarterly / Interim Statement/Quarterly / Interim Statement20.05.2021 / 08:00 The issuer is solely responsible for the content of this announcement.Press releaseBocholt, May 20, 2021Gigaset AG publishes report on the first quarter of 2021Fixed network renaissance continues. Phones segment grows revenue by 40% year over year Good start to the year, especially in phone and smartphone business Consolidated revenue up by almost 56% compared with the same period of the previous year EBITDA positive again at €1.6 millionBocholt, May 20, 2021- Gigaset AG (ISIN: DE0005156004), an internationally operating company in the area of communications technology, today published its report for the first quarter of 2021. It posted strong results in the opening quarter of the current fiscal year. Revenue and earnings improved sharply compared with the same period of the previous year. EBITDA was also back in the black.The company posted total revenue of €50.5 million (Q1 2020: €32.4 million) and earnings before interest, taxes, depreciation and amortization (EBITDA) of €1.6 million (Q1 2020: € -7.4 million) in the first quarter of 2021."We are also still feeling the impacts of the coronavirus pandemic," says Thomas Schuchardt, CFO of Gigaset AG. "Nevertheless, the Phones, Smartphones and Professional segments performed very positively in the first quarter. Only the Smart Home segment remained heavily hit by the coronavirus pandemic. We believe we're well-positioned moving ahead. In our view, B2B business still has great potential, while the strong increase in digitization in private and professional life offers us ample opportunities we intend to leverage uncompromisingly."Performance by segmentsIn the mainly consumer-oriented Phones, Smartphones and Smart Home segments, revenue was €39.3 million, a sharp increase of 72.4% against 2020 (€22.8 million). In Professional business for B2B customers, the company generated revenue of €11.2 million, a rise of 16.7% over 2020 (€9.6 million).In a market environment that remains challenging, revenue in the Phones segment is being bolstered in particular by the changes in everyday life caused by the continuing coronavirus pandemic, such as the greater shift to working from home. Demand for fixed-line telephony in conjunction with a growing trend toward online shopping has led to a sharp rise in revenue despite all the store closures. For example, revenue in the Phones segment in the first quarter of 2021 increased to €35.3 million (Q1 2020: €25.3 million) or by almost 40%. However, the company assumes that this very positive trend will level off again in the medium term.The Smartphones segment was hit particularly hard last year by the measures to contain coronavirus in all sales markets. In the first quarter of 2020, product returns by retailers resulted in negative revenue of € -3.7 million. However, revenue in the first quarter of 2021 recovered significantly to €3.6 million - twice the figure for the first quarter of 2020.The situation in the Smart Home segment remains challenging. After doubling in the same period of the previous year (due to a new cooperation with a new partner in Switzerland), revenue in the first quarter of 2021 fell to €0.4 million (Q1 2020: €1.2 million). That is attributable to the fact that markets all in all are not trending as forecast by third parties, and that consumers are primarily buying smart home goods in the areas of convenience and entertainment. Smart TVs and robovacs, which are likewise included by market research institutes in their analyses, predominate compared with security or energy management solutions such as Gigaset offers.The Professional segment is also making good headway again after the crisis year 2020. After enterprises had previously deferred projects and orders, catch-up effects in the first quarter were a factor that helped increase revenue by 16.7% to €11.2 million (Q1 2020: €9.6 million)."By and large we feel positive about the current fiscal year," states Klaus Weßing, CEO of Gigaset AG. "Thanks to the swift countermeasures we initiated and our large investments in our products, we laid the groundwork last year and created a good foundation for the company's successful further development. As the figures we've presented demonstrate, we've got off to a good start in 2021. New products and key long-term partnerships, such as that with Unify Software and Solutions GmbH & Co. KG, will strengthen us further. We'll continue to build on that in the course of 2021."Gigaset announced in December 2020 that it would be developing the next family of desktop phones for Unify. Licenses acquired as part of that also allow Gigaset to use the new products in its own portfolio. The agreement has a minimum term of five years starting with shipment of the first product in 2022. Gigaset expects to supply Unify and Gigaset's direct customers with a total of more than five million phones.The outlook in context2021 still holds many opportunities and risks, and there is as yet no clear trend as to what will happen in 2021. The projections of a general recovery in the economy are all based on the common assumption that the pandemic will be suppressed quickly and successfully.If that is not the case or if the pandemic is suppressed successfully, but company bankruptcies increase sharply despite key government measures to help cushion its impact, such as the German Act to Mitigate the Consequences of the COVID-19 Pandemic under Civil, Insolvency and Criminal Procedure Law, which permitted temporarily suspension of the obligation to file for insolvency, there might be negative repercussions for private consumption by households.Gigaset believes that there will still be great uncertainty as regards the medium- and long-term effects of the pandemic in 2021. In view of this projection, Gigaset also continues to see itself significantly dependent on external factors beyond its control, in other words, decisions by governments to impose lockdowns or close businesses and borders, as well as the duration and further evolution of the pandemic itself.Moreover, full utilization of production capacities might not be able to be ensured as a result of existing shortages (such as for chipsets) on the procurement market. The challenge of procuring materials is one that is faced by Gigaset and many other industries. The company's long-standing and established business relationships with partners will be an advantage here.General statement by the Executive Board for 2021Excluding a sudden and serious deterioration in the coronavirus pandemic, Gigaset anticipates the following financial performance, financial position and cash flow situation in the year 2021: Compared with 2020, which was heavily impacted by coronavirus, a slight increase in revenue and EBITDA. A positive free cash flow at the pre-coronavirus level, allowing for the planned operational business and necessary investments.The complete report on the first quarter of 2021 can be found here.Gigaset AG, Bocholt, is an internationally operating company in the area of communications technology. The company is Europe's market leader in DECT telephones and is also a leader in the international arena, with around 900 employees and sales activities in around 56 countries. Its business activities comprise not only DECT phones, but also an extensive smartphone portfolio, cloud-based smart home applications, and business telephony solutions for SME and enterprise customers.Gigaset AG is listed in the Prime Standard of Deutsche Börse and is therefore subject to the highest transparency requirements. Its shares are traded on the Frankfurt Stock Exchange under the symbol GGS (ISIN: DE0005156004).Visit our corporate blogFollow us on: Facebook | Instagram | Pinterest | YouTube | Twitter | Xing | LinkedInVisit our homepage http://www.gigaset.com20.05.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de Language: English Company: Gigaset AG Frankenstr. 2 46395 Bocholt Germany Phone: +49 (0)89 444 456 866 Fax: +49(0)89 444 456 930 E-mail: info@gigaset.com Internet: www.gigaset.com ISIN: DE0005156004 WKN: 515600 Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange EQS News ID: 1198423 End of News DGAP News Service

  • EQS Group

    Gigaset AG publishes 2020 Annual Report

    DGAP-News: Gigaset AG / Key word(s): Annual Report/Annual Results22.04.2021 / 09:00 The issuer is solely responsible for the content of this announcement.Press releaseBocholt, April 22, 2021Gigaset AG publishes 2020 Annual Report2020 goals curbed due to coronavirus pandemic - rigorous and rapid countermeasures nevertheless lead to a solid result Total consolidated revenue of €214.2 million due to coronavirus Rigorous cost saving measures implemented Cash and cash equivalents up 15% year on year at €42.0 million thanks to strict cost and liquidity managementBocholt, April 22, 2021 - Gigaset AG (ISIN: DE0005156004), an internationally operating company in the area of communications technology, today published its Annual Report for 2020. Due to the continuing coronavirus pandemic, the last fisical year was especially challenging for Gigaset AG. Fiscal 2020 was clearly negatively impacted by coronavirus. This was also reflected in revenue and earnings in all segments. However, the countermeasures already taken by the company at a very early stage mitigated the impact. All in all, this allowed a solid operating result (EBITDA) and cash and cash equivalents clearly above the prior year to be achieved.In total, consolidated revenue of €214.2 million was generated in fiscal 2020 compared with €257.9 million in the same period of the prior year (-16.9%). The various state measures to contain the coronavirus pandemic in Germany and Europe, such as trade restrictions and repeated store closures in all of the company's markets, led to a decline in revenue in all four segments. Gigaset responded quickly, rigorously, and sustainably through targeted countermeasures. Thanks in particular to strict cost control, optimized working capital management, and the use of state support, it was nevertheless possible to post a solid operating result for 2020 as a whole with an EBITDA of €1.9 million. Through intensive liquidity management, much higher cash and cash equivalents of €42.0 million were posted at the end of the year than in the prior year (€36.6 million) and hence a robust cushion of +15.0%."Our annual result and what we have achieved all in all in the overall context of coronavirus is truly impressive," says Thomas Schuchardt, CFO of Gigaset. "Around €214 million in revenue and a very solid cash cushion well above the prior year at €42.0 million - and that still with high R&D investments in the future of our product portfolio or the conclusion of very large and labor-intensive cooperation agreements. It is also especially important to me that no employee had to leave the company on operational grounds."Klaus Weßing, CEO of Gigaset AG, adds: "We can all be rightly proud of what was achieved last year under extremely difficult conditions. We naturally had different plans for 2020 at the start of the year and were full of ideas and plenty of potential. We wanted to grow, to further develop and scale our business. Then came coronavirus. A whole new situation for us and many thousands of companies worldwide. None of us had ever experienced a pandemic before or could really foresee what happened to the economy and the people. That's still difficult today - also with a view to the future."Targeted management response to coronavirusImmediately after the outbreak of the coronavirus pandemic, the company took three central measures that have since been strategically implemented: One was to tighten up liquidity and cost management. A stronger focus was placed in cash management on payment runs and credit management, so that extensive deferments could be achieved between April and September. At the same time, working capital was optimized and other costs saved. Employees covered by a collective bargaining agreement were placed on short-time working, and pay cuts were agreed with exempt colleagues. Another measure was to further expand e-commerce business. As a result, the proportion of online sales for the year as a whole went up 46,2 % year on year. The third measure, aimed at protecting employees and ensuring the company's ability to deliver, was to additionally implement hygiene measures early on in line with the recommendations of the Robert Koch Institute and the German government.Despite the challenging coronavirus situation, the management made the conscious decision to keep activities in research and development at the highest possible level in order to initiate new innovations in all business fields for 2021 and the subsequent years. For example, the entire Professional handset portfolio was overhauled and the innovative UC ION phone developed. With ION, Gigaset is targeting the market for unified communications and softphone clients even more vigorously. The phone with handsfree function for the office, working from home, and on the road is a headset alternative for users who prefer a handset with a headset and want to switch flexibly to a conference loudspeaker.Last year, also under coronavirus conditions, another extensive and important project was planned, implemented and successfully completed in December: the cooperation agreement with Unify Software and Solutions GmbH & Co. KG. Under this agreement, Unify will exclusively purchase the next family of desktop phones from Gigaset until the end of 2025. In addition, Gigaset has acquired central software licenses and will also be able to use the newly developed phones in its own portfolio. With a volume of around five million phones, the cooperation with Unify is one of the biggest and most important projects of the last decade."We responded well and, most importantly, quickly to the coronavirus pandemic, but dealing with the crisis will also continue to occupy us in the new fiscal year, says Weßing. "We also expect working from home and remotely as a consequence of the crisis to lead to a large-scale redesign and adjustment of the IT and telecommunications structures both at work and home. The number of Internet-capable devices in private households will continue to rise in the coming years, and Gigaset can and intends to benefit from this development in the future."Performance by segmentsIn the mainly consumer-oriented Phones, Smartphones and Smart Home segments, revenue was €173.1 million, hence down 14.0% against 2019 (€201.3 million). In Professional business for B2B customers, the company generated revenue of €41.1 million, a decline of 27.3% over 2019 (€56.6 million).The Phones segment generated revenue of €157.3 million in fiscal 2020 (2019: €176.4 million). This revenue decline was primarily due to the massive lockdowns and store closures especially in the the second quarter, and the general uncertainty due to the pandemic. In Europe, more than 90% of the points of sales (PoS) that sell Gigaset products were temporarily closed. Although the company expects a peak in demand for this segment in the short term due to the increasing shift of working life into the home, this will not, however, influence the general degressive market trend. DECT telephony already experienced a revival in 2020 thanks to the rise in working from home. The outstanding voice quality, the ergonomics of the devices, and the call and standby times suggest that this trend will persist. Gigaset also sees new potential in the area of fixed-line telephony in the U.S. The new e-commerce capacities at the company enable a new and direct market access to the customer that is now no longer set up via retail but instead on a purely online basis. Accordingly, Gigaset can now also be found as a vendor on Amazon's U.S. platform.The Smartphones segment posted revenue of €13.3 million (2019: €21.2 million). This was affected primarily by the closure of retail stores and reduced Christmas business as a result. Gigaset is the only manufacturer to offer fixed-line, professional and mobile telephony from a single source. By expanding this ecosystem, Gigaset is driving forward the merger of B2C and B2B solutions, since the company expects customers in the context of remote working to opt for end-to-end solutions for their employees.Revenues of €2.5 million were generated with smart home solutions in fiscal 2020 (2019: €3.7 million). The decline can be attributed primarily to smart home solutions still being regarded as a "luxury". In times of crisis, customers therefore refrain temporarily from buying such products in favor of other goods. If, however, the home becomes the new focal point, investments in convenience and security will shift accordingly in this segment. Gigaset therefore expects demand to rise again from the new fiscal year.The Professional segment contributed €41.1 million to consolidated revenue in fiscal 2020 (2019: €56.6 million). The decline is due to projects being postponed or canceled. While the pandemic-related effects of going without in the consumer segment set in relatively quickly, there was a certain delay in investment activities in the B2B field. Gigaset remains optimistic about the further development of the market. Despite increasing digitalization, the hardware needed for calls should remain unaffected by the expected changes. As a manufacturer in the B2B field with close links to cloud partners, Gigaset also aims to benefit from this development.OutlookNo clear-cut course has yet emerged in 2021, so no projections can be made either on a general recovery in economic performance. The biggest risk for Gigaset continues to lie in hard lockdowns, in which PoS in Germany and Europe remain closed, or during which project business as in the Professional segment is not possible. On the other hand, there are very positive developments in Gigaset e-commerce, whether on the company's own homepage, via Amazon and other e-tailers, or in marketplaces.As a result, great uncertainty also remains for 2021 regarding what the actual medium and long-term effects of the pandemic will look like in this year. In view of this projection, Gigaset also continues to see itself significantly dependent on external factors beyond its control, in other words, decisions by governments to impose curfews or close businesses and borders, as well as the duration and further evolution of the pandemic itself.General statement by the Executive Board for 2021Excluding a sudden and serious deterioration in the coronavirus pandemic, Gigaset anticipates the following financial performance, financial position and cash flow situation in fiscal 2021: Compared with 2020, which was heavily impacted by coronavirus, a slight increase in revenue and EBITDA A positive free cash flow at pre-coronavirus level allowing for the planned operational business and necessary investmentsThe audited financial statements and the Annual Report for 2020 can be downloaded here. Gigaset AG, Bocholt, is an internationally operating company in the area of communications technology. The company is Europe's market leader in DECT telephones and is also a leader in the international arena, with around 900 employees and sales activities in around 56 countries. Its business activities comprise not only DECT phones, but also an extensive smartphone portfolio, cloud-based smart home applications, and business telephony solutions for SME and enterprise customers.Gigaset AG is listed in the Prime Standard of Deutsche Börse and is therefore subject to the highest transparency requirements. Its shares are traded on the Frankfurt Stock Exchange under the symbol GGS (ISIN: DE0005156004).Visit our corporate blogFollow us on: Facebook | Instagram | Pinterest | YouTube | Twitter | Xing | LinkedInVisit our homepage http://www.gigaset.com22.04.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de Language: English Company: Gigaset AG Frankenstr. 2 46395 Bocholt Germany Phone: +49 (0)89 444 456 866 Fax: +49(0)89 444 456 930 E-mail: info@gigaset.com Internet: www.gigaset.com ISIN: DE0005156004 WKN: 515600 Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange EQS News ID: 1187218 End of News DGAP News Service