EQS-News: Cherry SE publishes preliminary group figures for the fourth quarter and fiscal year 2025

Munich, 28 January 2026 – Cherry SE today announces its preliminary and unaudited consolidated figures for the fourth quarter and the fiscal year 2025. Preliminary consolidated revenue for 2025 amounted to EUR 94.3 million, down 15% compared to the prior year (EUR 110.4 million) and thus below the forecast of the lower end of the range of EUR 100 to 115 million. The decline is attributable to weaker demand in the Components segment as well as to two special effects in the Digital Health segment, namely the divestment of the hygiene keyboard business and the postponement of the TI rollout by the German federal government. At -10.4% (2024: -6.3%), the adjusted consolidated EBITDA margin is expected marginally below the company’s forecast of a high single-digit negative range.

Fiscal year 2025 was characterized by a consistent portfolio streamlining and far-reaching restructuring measures. In addition to an increase in revenue in the fourth quarter, the Peripherals segment was also able to record an improved gross margin, demonstrating that the measures implemented are taking effect. The eHealth terminal business also developed positively in the fourth quarter. Adjusted consolidated EBITDA amounted to EUR -9.8 million in 2025 (2024: EUR -7.0 million), as the decline in revenue could only be partially offset by strict cost discipline.

Consolidated revenue of Cherry SE in the fourth quarter of 2025 amounted to EUR 23.7 million (Q4 2024: EUR 26.3 million). This decline primarily resulted from the loss of revenues from “Active Key,” which was sold in May 2025, and could be partially offset by higher revenues in Peripherals and a strong eHealth terminals business. Adjusted EBITDA in the final quarter, however, improved to EUR -4.9 million (Q4 2024: EUR -6.3 million), supported by cost reductions and higher gross margins in the European peripherals business.

Digital Health & Solutions:

The eHealth terminals business developed very dynamically over the past year: Revenue increased by 26% year-on-year for the full year and recorded an even more pronounced increase of 38% in the fourth quarter of 2025 despite the regulatory changes. With the resolution passed by the Bundestag on 6 November 2025, the mandatory TI connection for around 90,000 healthcare and medical aid providers (e.g. physiotherapists) was postponed at short notice from January 2026 to October 2027. As a result, the revenues expected in the fourth quarter of 2025 from initial equipment for these professional groups did not materialize, leading to revenue losses in the millions for Cherry SE. On a comparable basis – adjusted for the sale of “Active Key” – 2025 segment revenue was nevertheless only marginally below the prior-year level. On the earnings side, a decline was recorded both in the fourth quarter and for the full year 2025, primarily attributable to costs associated with the termination of the Smartlink project (see interim report 2025).

Gaming & Office Peripherals:

In the peripherals business, the realignment is beginning to deliver tangible results. Cherry SE has initiated the transition from a “sell-in” to a “sell-through” oriented operating model in order to sustainably enhance competitiveness. Revenue and margin momentum increased noticeably toward year-end: While revenue was still down on a full-year basis, an increase compared to the prior-year period was already achieved in the fourth quarter of 2025. The office peripherals business in Europe developed particularly positively, with significant improvements achieved not only in volume but also in gross margin.

Components:

In the Components segment, the negative trend of the first nine months of 2025 continued through year-end. Revenue remained under pressure, and the segment result turned negative for the full year 2025 after having been break-even in the prior year. This development confirms the strategic decision to discontinue in-house production in Auerbach and relocate manufacturing to China. The segment’s result in fiscal year 2025 was significantly impacted by one-off restructuring costs related to the conversion of the Auerbach site into a logistics center.

Rogier Volmer, CEO of Cherry SE: “Over the past year, CHERRY has set the necessary course in the Peripherals segment and decisively advanced the transformation of the entire company. In addition, we continue to focus on high-margin hardware and software solutions in the healthcare sector. The regulatory delay in the TI rollout does not change the enormous potential that this market continues to offer us.”

Jurjen Jongma, CFO of Cherry SE: “The improvement in adjusted EBITDA in the fourth quarter, despite persistent challenges in the peripherals market and regulatory headwinds in the healthcare segment, underscores the increased resilience and flexibility of our organization. In the current year, our priority will be to further enhance our liquidity position in to reinforce our financial foundation and enable sustainable growth.”

On 5 March 2026, the company will provide additional selected KPIs for the 2025 financial year, together with its analyst and investor presentation, on its website.

About Cherry 

Cherry SE [ISIN: DE000A3CRRN9] is a global manufacturer of computer input devices such as keyboards, mice, microphones, and headsets for applications in office, gaming, and industry for hybrid work, as well as hardware and software solutions in digital healthcare. Since its founding in 1953, CHERRY has been synonymous with innovative and durable high-quality products, developed in-house, specifically to meet customer needs.

CHERRY’s operational headquarters is in Germany (Auerbach in der Oberpfalz) and it employs staff in development, services, logistics, and production sites in Germany (Auerbach), China (Zhuhai), and Austria (Vienna), as well as in multiple sales offices in Germany (Munich, Auerbach), France (Paris), Sweden (Landskrona), the USA (Kenosha), China (Shanghai) and Taiwan (Taipei).

For more information, visit:https://ir.cherry.de/en/

Contact

Cherry SE
Nicole Schillinger
Investor Relations
P: Rosental 7, c/o Mindspace, 80331 Munich
T: +49 (0) 9643 2061 848
E: ir@cherry.de