Cherry Se · XETR:C3RY
Cherry — 9M 2021 Earnings Presentation
18 slides from Cherry's earnings presentation, Nov 15, 2021
Slide 1: Q3/9M 2021 – Investor & Analyst Conference Call
Q3/9M 2021 – INVESTOR & ANALYST CONFERENCE CALL November 15, 2021
Slide 2: Q3/9M 2021 – Investor & Analyst Conference Call
Q3/9M 2021 – Investor & Analyst Conference Call 2
Slide 3: Q3/9M 2021 – Investor & Analyst Conference Call
Q3/9M 2021 – Investor & Analyst Conference Call 3
Slide 4: Global gaming market
Global gaming market Trend towards professionalization of Increasing number of gamers Increasing game control complexity Increasing public interest in eSports gaming High gamers' buying frequency and willingness to pay for mechanical keyboards High popularity of PC games Q3/9M 2021 – Investor & Anal
Slide 5: Global professional input devices market
Global professional input devices market Increasing number of “digital creators” with Increasing number of customers with a strong The future of work is hybrid and work from home is a willingness to buy premium need for highly unique premium products must for modern companies. All products segments
Slide 6: Important steps for future growth
Important steps for future growth Scope of business - supporting growth dynamics • Dell plus four additional strategic customers were added for CHERRY´s mechanical ULP (ultra low profile) switches. • New markets were entered together with new distributors, incl. Malaysia, Australia and Indonesia. Le
Slide 7: CHERRY MX 2.0S, HC 2.2 and MC 2.1.
CHERRY MX 2.0S, HC 2.2 and MC 2.1. Q3/9M 2021 – Investor & Analyst Conference Call 7
Slide 8: Important steps for future growth
Important steps for future growth Scope of business - supporting growth dynamics MW 8C Ergo G80-3000N TKL • Cherry’s total addressable market has increased with gematik GmbH’s approval of outpatient and inpatient care facilities as new user groups for Cherry e-health terminals. • New product segment
Slide 9: Q3/9M 2021 – Investor & Analyst Conference Call
• • • • • • • • Q3/9M 2021 – Investor & Analyst Conference Call 9
Slide 10: Strong profitable sales growth
IN €M/ 9M 9M Q3 Q3 AS INDICATED ∆ ∆ 2021 2020* 2021 2020* Revenue 123.4 93.9 31.3% 43.1 34.2 26.1% STRONG PROFITABLE SALES EBITDA adj. 36.5 26.7 36.9% 12.3 10.9 12.9% GROWTH EBITDA 31.1 26.3 18.2% 12.2 10.6 14.7% EBITDA • 9M 2021 was marked by a strong revenue margin 29.6% 28.4% 1.2 pp. 28.6% 31.9%
Slide 11: Revenue growth at 31.3% YoY in 9M 2021
Growing throughout both business areas with mixed momentum 9M REVENUE IN €M. Q3 REVENUE IN €M. 140 50 45 120 40 REVENUE GROWTH AT 100 PROFESSIONAL 35 PROFESSIONAL 31.3% YOY IN 9M 2021 30 80 PROFESSIONAL PROFESSIONAL • Sales in GAMING grew by 18.4% to 25 €63.2m. in 9M 60 20 • Sales in PROFESSIONAL gr
Slide 12: Forecast specified as year end comes into focus
Profitable growth path IN €M/ AS INDICATED FY 2020* 9M 2021 FORECAST FY 2021 Revenue 130.2 123.4 around 170 FORECAST SPECIFIED AS EBITDA margin (adj.) 28.5% 29.6% around 30% YEAR END COMES INTO FOCUS • Strong revenue growth of 30% • supply chain disruptions, particularly in China, and temporary fluc
Slide 13: Established number one global market position for mechanical gaming keyboard switches
Established number one global Innovation and quality leader with a Leading brand recognition and pricing Impressive financial profile with high market position for mechanical track record of successful new power in our core markets margins and attractive cash gaming keyboard switches product develop
Slide 14: Appendix
APPENDIX Q3/9M 2021 – Investor & Analyst Conference Call 14
Slide 15: 9M 2021 was marked by high non-recurrent one-off effects
9M 2021 was marked by high non-recurrent one-off effects IN €M. IN €M. * In the 2020 financial year, the Cherry AG Group did not yet exist in its current structure. Therefore, unaudited pro forma comparative figures of the Cherry AG Group are given for the prior-year period. Q3/9M 2021 – Investor &
Slide 16: Share performance and current shareholder structure
SHARE PERFORMANCE AND CURRENT SHAREHOLDER STRUCTURE RELATIVE SHARE PERFORMANCE SHAREHOLDER STRUCTURE 120% JP Morgan Asset Management Janus Henderson 5% 3% The Capital Group 110% 5% Swedbank Robur Fonder 100% 5% Cherry (EUR) Corsair Gaming (USD) Remaining DWS Asset 90% free float Management Logitech
Slide 17: Disclaimer
Disclaimer This presentation contains forward-looking statements. These statements are based on the current views, expectations and assumptions of the management of Cherry AG and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materi
Slide 18: Thank you for your attention
THANK YOU FOR YOUR ATTENTION Cherry AG Dr. Kai Holtmann │ Head of Investor Relations Einsteinstrasse 174 │ Bogenhausen 81677 München, Deutschland E-Mail [email protected] Tel. +49 175 1971503 Fax +49 9643 20 61 900 Internet www.cherry.de