Cherry SE's 2024 Revenue Falls Short of Expectations

Munich, 11 February 2025 - Cherry SE has announced that its 2024 financial results fell below expectations, impacted by weak performance in the Americas and competitive challenges in the switch business. The company's revenue is projected to be around EUR 110 million, down from the anticipated EUR 120 million. Additionally, the adjusted Group EBITDA margin is estimated at -2%, lower than the 3% previously forecasted.

The sales shortfall is primarily due to decreased competitiveness in the switch business, largely dominated by Chinese players, and underperformance in the American market. Cherry SE is aiming to revitalize its U.S. operations by establishing a robust partner network this year.

Efforts to counter the gray market in its Peripherals division have seen street prices rise by over 50%. The company is also actively streamlining its product range and has implemented several strategic changes.

Despite difficult geopolitical and economic conditions in Germany, Cherry SE remains focused on innovation and cost management. The company is optimistic about its internal realignment and growth prospects for 2025.