Cherry Se · XETR:C3RY
Cherry — Hamburger Investorentage February 2026
25 slides from Cherry's conference presentation, Feb 4, 2026
Slide 1: CHERRY SE Hamburger Investorentage
CHERRY SE HAMBURGER INVESTORENTAGE 4 FEBRUARY 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
Slide 4: Q4 and FY 2025 Prelims Burdened by One-offs
INVESTMENT HIGHLIGHTS 4 Q4 AND FY 2025 PRELIMS* BURDEDED BY ONE - OFFS Revenue below previous period Due to divestment of Active Key; strong u/l demand for eHealth terminals Revenue adj. EBITDA Increased momentum in Peripherals; decline in demand for Components FY 2025 FY 2025 EUR 94.3m EUR - 9.8m E
Slide 5: 9M 2025 Financials Snapshot – Cash Burn Drastically Reduced
INVESTMENT HIGHLIGHTS 5 9M 2025 FINANCIALS SNAPSHOT – CASH BURN DRASTICALLY REDUCED Revenue adj. EBITDA Cash on Cash burn Equity margin hand ytd* ratio EUR 70.7m - 6.9% EUR 7.5m EUR 8.8m 43.2% - 16% - 6.1%pts. - 0.3m - 28.9m - 2.4%pts. yoy yoy qoq yoy qoq * Change in cash position 30 Sep 2025 vs. 31
Slide 6: Major Milestones Achieved in Q3
INVESTMENT HIGHLIGHTS 6 MAJOR MILESTONES HAVE BEEN ACHIEVED IN Q3 AGM confirmed Jurjen Jongma new TI - Messenger provider Further inventory CHERRY’s strategic CFO as of 1 September approval reduction achieved realignment • Management Board • CHERRY Digital • Group inventories Shareholder approval ex
Slide 7: Q3 and 9M 2025 Financials
7 Q3 AND 9M 2025 FINANCIALS
Slide 8: Q3 and 9M Group Key KPI Overview
Q3 AND 9M 2025 FINANCIALS 8 Q3 AND 9M GROUP KEY KPI OVERVIEW 9M REVENUE 9M ADJ. EBITDA (EUR m) • 9M revenue below previous year in (EUR m) all three divisions 13.6 98.0 • Q3 revenue up 9% driven by growth 4.4 88.6 84.2 in Peripherals, despite pressure in 33.0 Europe and USA 28.7 70.7 30.3 5.0 • DH&S
Slide 9: Peripherals and Health Q3 Revenues Up YoY
Q3 AND 9M 2025 FINANCIALS 9 PERIPHERALS AND HEALTH Q3 REVENUES UP YOY REVENUE SPLIT (EUR m) ADJ. EBITDA SPLIT (EUR m) 88.6 27.2 1.9 84.2 1.8 0.2 8.5 5.2 24.7 0.0 0.2 70.7 22.7 1.5 3.8 3.9 1.6 13.5 5.2 11.6 2.2 0.2 8.5 1.7 56.4 20.7 16.7 0.9 - 0.3 65.3 14.7 - 0.6 - 1.0 50.3 - 4.0 - 1.8 - 1.5 - 12.7 -
Slide 10: Normalizing Out 2025 Extraordinary Items
Q3 AND 9M 2025 FINANCIALS 10 NORMALIZING OUT 2025 EXTRAORDINARY ITEMS FROM REPORTED TO OPERATIONAL P&L FROM OPERATIONAL TO SUSTAINABLE PERFORMANCE (EUR m; % mgn .) (EUR m; % mgn .) CONSERVATIVE OPTIMISTIC REVENUE 70.7 ADJUSTMENTS 70.7 OPERATIONAL 71.1 IMPROVE TO SUSTAINABLE SITUATION 71.1 71.1 +0.4
Slide 11: Inventory Reduction Keeps Its Momentum
Q3 AND 9M 2025 FINANCIALS 11 INVENTORY REDUCTION KEEPS ITS MOMENTUM CHANGE IN INVENTORIES (in EUR m) - 49% 75 5 5 13 8 3 4 8 3 7 5 38 30 Mar 23 Q2 23 Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 30 Sep 25 February 2026 | Hamburger Investorentage
Slide 12: Operating and Restructuring Update
12 OPERATING AND RESTRUCTURING UPDATE
Slide 13: Auerbach Reshaped to Central Development, Logistics, and Services Hub
OPERATING AND RESTRUCTURING UPDATE 13 AUERBACH RESHAPED TO CENTRAL DEVELOPMENT, LOGISTICS, AND SERVICES HUB Development Services Logistics Centralized & integrated Product & Subcon Management & Supply Chain New Tariff - optimized Setup in USA Technology Development Management are key Switch Technolo
Slide 14: Auerbach Logistics & Services Go-Live Successfully Ahead of Time
OPERATING AND RESTRUCTURING UPDATE 14 AUERBACH LOGISTICS & SERVICES GO - LIVE SUCCESSFULLY AHEAD OF TIME All shelving units in the former production hall are ready and in operation as well as filled according to the revised accelerated timeline within Q4. Looking ahead, by end of Q4 all logistic tas
Slide 15: Development, Technology & Innovation – On Track for a Bright Future
OPERATING AND RESTRUCTURING UPDATE 15 DEVELOPMENT, TECHNOLOGY & INNOVATION – ON TRACK FOR A BRIGHT FUTURE Foundation Established Innovation Momentum Looking Ahead Integrated Product & Technology Centralized & integrated Product & ~ 30 Technology Roadmap projects Development implemented Technology De
Slide 16: Outlook
16 OUTLOOK
Slide 17: Outlook: New CEO Rogier Volmer
OUTLOOK: NEW CEO ROGIER VOLMER 17 ROGIER VOLMER INTERIM CEO SINCE JAN Mission “Cherry’s strength lies in its brands and people; the focus now is disciplined execution to deliver sustainable performance.” Professional Experience MD, DACH & Benelux, Haier Europe - turnaround mandate CEO, Trust Interna
Slide 18: Strategic Portfolio Review to Enhance Financial Flexibility
OUTLOOK: M&A PROCESS 18 STRATEGIC PORTFOLIO REVIEW TO ENHANCE FINANCIAL FLEXIBILITY Objective: Strengthen financial position and finance future growth of the remaining division Timeline: Transaction to be completed within H1 2026 Process Process Investor Information Initiation Management Status Memo
Slide 19: Cherry Aims to Become Provider of Agnostic, Digital Ecosystems
OUTLOOK: STATUS QUO A STRONG BASIS 19 CHERRY AIMS TO BECOME AN INTERNATIONAL PROVIDER OF AGNOSTIC, DIGITAL ECOSYSTEMS DH&S – REVENUE AND MARGIN GROWTH PERIPHERALS RESHAPED • Continued strong demand for terminals • Streamlined OFFICE structures incl. • Fundamental paradigm shift SKU reduction • TI -
Slide 20: Challenges to Master
OUTLOOK: CHALLENGES 20 CHALLENGES TO MASTER Germany near - stagnant growth, clearly APAC: Pricing pressure and FX headwinds lagging behind most of its European peers* Strengthen forecasting discipline and data Cash constraints limit the ability to pursue accuracy growth opportunities Connecting heal
Slide 21: Peripherals Opportunity in B2C and Wireless
OUTLOOK: PERIPHERALS OPPORTUNITIES 21 PERIPHERALS OPPORTUNITY IN B2C AND WIRELESS 10% Reseller Market* ytd still under Consumer Retail segment* shows Pressure robust momentum ytd • Germany up 2% • Online channels dominating with • UK down massively at - 22% > 60% of EU3 KB • France stagnant at - 1%
Slide 22: Marketing Relaunch: From B2B to B2C Focus
OUTLOOK: IMPACT OF MARKETING RELAUNCH I 22 MARKETING RELAUNCH: FROM B2B - TO B2C - FOCUS AND CUSTOMER - CENTRIC MESSAGING From partner - focused B2B messaging to consumer - driven storytelling What we sell Why it matters Push Pull Customer - centric messaging – built to resonate with their goals and
Slide 23: Marketing Relaunch: Evolving the Brand & Owning Our Story
OUTLOOK: IMPACT OF MARKETING RELAUNCH II 23 MARKETING RELAUNCH: EVOLVING THE BRAND & OWNING OUR STORY Our content should feel like us – authentic, distinctive, and unmistakably CHERRY. Then Now • Content creation and quality control brought back in - house • Strong marketing team built to produce ow
Slide 24: Financing Partners' Commitment & More Efficient Group Structure
OUTLOOK: STREAMLINED ORGANIZATION 24 FINANCING PARTNERS’ STRONG COMMITMENT & MORE EFFICIENT GROUP STRUCTURE Major shareholder confirms commitment Number of legal entities reduced by injecting up to EUR 5.7 million to 7 from 13 Restructuring allows for more efficient New allocation of Management Boar
Slide 25: IR Contact
IR CONTACT NICOLE SCHILLINGER SVP INVESTOR RELATIONS EMAIL: IR@CHERRY.DE PHONE: +49 9643 2061 848 WEB: HTTPS://IR.CHERRY.DE