Cherry Se · XETR:C3RY
Cherry — Q1 2026 Earnings Presentation
24 slides from Cherry's earnings presentation, May 7, 2026
Slide 1: Analyst Conference & Q1 2026 Call Investor Presentation
ANALYST CONFERENCE & Q1 2026 CALL INVESTOR PRESENTA T ION 07 MAY 2026
Slide 2: Legal Disclaimer
LEGAL DISCLAIMER This presentation contains forward - looking statements. These statements are based on the current views, expectations and assumptions of the management of Cherry SE and involve know n a nd unknown risks and uncertainties that could cause actual results, performance or events to dif
Slide 3: Investment Highlights
INVESTMENT HIGHLIGHTS ROGIER VOLMER, CEO
Slide 4: From Foundation to Focused Execution
INVESTMENT HIGHLIGHTS 4 FROM FOUNDATION TO FOCUSED EXECUTION Peripherals transformation underway and DH&S divestment progressing STRENGTHS ACTIONS DISCIPLINE Strong foundations Simplify & accelerate Drive performance • Trusted brand in quality input devices • Streamline organization • Align cost bas
Slide 5: Major Milestones YTD
INVESTMENT HIGHLIGHTS 5 MAJOR MILESTONES YTD Encouraging signals in Launch of Project EGM to restore capital Q1 2026 Blossom market eligibility • Improved OPEX • Cherry’s way forward • Planned reverse control – cost cutting with a combination of stock split already paying off growth initiatives and
Slide 6: Q1 2026 Financials
6 Q1 2026 FINANCIALS JURJEN JONGMA, CFO
Slide 7: Q1 2026 Group Revenue a Mixed Bag
Q1 2026 FINANCIALS 7 Q1 2026 GROUP REVENUE A MIXED BAG 20.9 20.8 1.6 • Q1 26 Group Revenue at EUR 20.8m, c. 18% below 1 Q1 COMPARABLE 2 5.2 Q1 25’s EUR 25.3m Q1 REVENUE REVENUE (IN EUR M) (IN EUR M) 35 17.8 • Extraordinary items in the Peripherals segment 14.8 30.2 weighing on y - o- y performance,
Slide 8: Q1 2026 EBITDA Improvement Reflects Margin Expansion and Cost Savings
Q1 2026 FINANCIALS 8 Q1 2026 EBITDA IMPROVEMENT REFLECTS MARGIN EXPANSION AND COST SAVINGS Q1 ADJ. EBITDA 1 (IN EUR M) • Q1 26 adj. Group EBITDA margin improved to - 2.9% vs. 6 0.9 - 8.0% in Q1 25 5 - 2.0 - 0.6 1.7 4 - 1.3 • Q1 26 adj. Group EBITDA margin improved by more than 3 1.8 5 ppts. on the b
Slide 9: Deep Dive: Margin and FCF Expansion
Q1 2026 FINANCIALS 9 DEEP DIVE: MARGIN AND FCF EXPANSION (in EUR m) Q1 2023 Q1 2024 Q1 2025 Q1 2026 Group revenue 28.7 30.3 25.3 20.8 Gross profit II margin 23.0% 35.3% 28.5% 32.6% Adj. EBITDA - 1.3 0.9 - 2.0 - 0.6 Adj. EBITDA margin - 9.8% - 0.5% - 8.0% - 2.9% Adj. EBIT - 5.1 - 1.1 - 3.2 - 1.5 Free
Slide 10: Financing Strategy
10 FINANCING STRATEGY JURJEN JONGMA, CFO
Slide 11: Balance Sheet Reset to Restore Capital Market Eligibility
FINANCING STRATEGY: REVERSE SHARE SPLIT 11 BALANCE SHEET RESET TO RESTORE CAPITAL MARKET ELIGIBILITY REVERSE SHARE SPLIT AND CAPITAL REDUCTION Technicals Strategic rationale • 4:1 reverse share split (four shares • Restoration of capital market eligibility consolidated into one) • Structural basis f
Slide 12: Reverse Split Provides Additional Flexibility to Support and Accelerate Restructuring
FINANCING STRATEGY: EVALUATING OPTIONS 12 REVERSE SPLIT PROVIDES ADDITIONAL FLEXIBILITY TO SUPPORT AND ACCELERATE RESTRUCTURING ANNOUNCED POTENTIAL SALE OF UNTAPPED VALUE IN PERIPHERALS FINANCING STATUS QUO BUSINESS SEGMENT • November 2025 - announced plans • Peripherals division remains a • EUR 23m
Slide 13: Outlook
13 OUTLOOK ROGIER VOLMER, CEO
Slide 14: Leading Position in German E-Health
OUTLOOK: DH&S IN EXCELLENT SHAPE 14 LEADING POSITION IN GERMAN E - HEALTH DH&S operates in a regulated market with high entry barriers and strong visibility TI Market opportunity Core platform Large and mandated rollout Integrated secure platform • ~150k institutions still to connect (by 2027) • Cer
Slide 15: Peripherals: Strong Market and Clear Transformation
OUTLOOK: BUILDING A FUTURE - READY CHERRY 15 PERIPHERALS: STRONG MARKET AND CLEAR TRANSFORMATION Strong starting position Transformation underway • Premium brand and • Asset - light operating model engineering heritage • Focus on core input device • Leading switch technology categories • Established
Slide 16: Attractive Markets & Improved Price Index
OUTLOOK: PERIPHERALS MARKET OPPORTUNITIES 16 ATTRACTIVE MARKETS & IMPROVED PRICE INDEX Attractive and growing markets CHERRY increases price index • Computer Peripherals market growing steadily • Price index growth ahead of peers • Gaming Peripherals high - growth segment • Strong position in EU3 co
Slide 17: Clear Action to Be Taken to Translate Encouraging Signals into Value Creation
OUTLOOK: STRATEGIC INITIATIVES 17 CLEAR ACTION TO BE TAKEN TO TRANSLATE ENCOURAGING SIGNALS INTO VALUE CREATION We have launched several strategic initiatives to reposition our Peripherals & Components business for profitable growth Drive revenue uplift Organizational right - sizing Investment where
Slide 18: Project Blossom: Growth and Cost Reduction Initiatives to Reach Profitability
OUTLOOK: PROJECT BLOSSOM 18 PROJECT BLOSSOM: GROWTH AND COST REDUCTION INITIATIVES TO REACH PROFITABILITY PROJECT BLOSSOM STRATEGIC GROWTH INITIATIVES RIGHT SIZING Strengthen Office & Europe 3, start in DACH Achieve EBIT break - even in 2027 by reducing B2B another EUR 8 million of non - product rel
Slide 19: Building a Focused, Scalable Cherry
OUTLOOK: PROJECT BLOSSOM 19 BUILDING A FOCUSED, SCALABLE CHERRY TRANSFORMING CHERRY INTO A SIMPLER, ASSET - LIGHT AND SCALABLE BUSINESS, BUILT ITS STRENGTH IN INPUT TECHNOLOGY PROJECTED REVENUE OF REMAINING BUSINESS (SCHEMATIC) • Focus on core input devices • Asset - light operating model • Scalable
Slide 20: Security KB to Capture Further Growth
OUTLOOK: SECURITY KEYBOARDS 20 SECURITY KB TO CAPTURE FURTHER GROWTH SECURITY FRAMEWORK SHORT - TERM LONG - TERM USPs CONDITIONS MEASURES POTENTIAL EXPAND CHERRY AS SURGING DEFENSE DESIGNED AND LEADER IN EUROPEAN KEYSTROKE AND SECURITY SECURED IN EU SECURITY BIOMETRICS INVESTMENTS ARCHITECTURE DEVEL
Slide 21: Back to Two-Member Management Board
OUTLOOK: GOVERNANCE - MB 21 BACK TO TWO - MEMBER MANAGEMENT BOARD CEO CFO Rogier Volmer Jurjen Jongma SALES ACCOUNTING & TREASURY GENERAL COUNSEL MARKETING CONTROLLING COMMUNICATION INVESTOR RELATIONS GLOBAL SUPPLY CHAIN, PRODUCT MANAGEMENT PURCHASING & MANUFACTURING PEOPLE & DIGITAL LOGISTICS PRODU
Slide 22: Right-Sizing Supervisory Board to 4 Members
OUTLOOK: GOVERNANCE - SB 22 RIGHT - SIZING SUPERVISORY BOARD TO 4 MEMBERS In alignment with the upcoming Extraordinary General Meeting (EGM), three Supervisory Board members shall step down from their positions The planned transition will reduce the Supervisory Board to four Marcel Stolk James Burns
Slide 23: Management Summary
OUTLOOK: KEY TAKEAWAYS 23 MANAGEMENT SUMMARY To be positioned for break - even in 2027 through strategic growth initiatives; on - track M&A and solid trading provide near - term visibility New scalable Business Full Year Guidance Model after Closing M&A Process on Track Solid Current Trading Q1 Resu
Slide 24: IR Contact
IR CONTACT NICOLE SCHILLINGER SVP INVESTOR RELATIONS EMAIL: IR@CHERRY.DE PHONE: +49 9643 2061 848 WEB: HTTPS://IR.CHERRY.DE