OSLO, Norway, March 4, 2021 /PRNewswire/ -- Today, Asetek hosts
its 2021 Capital Markets Update where the management will provide
an update on strategy, markets, operations, financial development
and outlook, including the recent investments in IP, software and
hardware as part of developing the Asetek SimpSorts product
offering. The company will also present its 2025 financial ambition
supported by its strategy for long-term growth and market
expansion.
The webcast event includes presentations by; CEO André Sloth
Eriksen; COO John Hamill; VP &
General Manager Dipak Rao; VP &
General Manager Jim Carlton; and CFO
Peter Dam Madsen.
Asetek is the global leader in liquid cooling solutions for
gaming and enthusiast PCs, data centers and servers. This position
is founded on innovation and extensive capabilities with software,
hardware and mechanics, known also as mechatronics. These
capabilities have led to long-term profitable growth and record
revenue and EBITDA for 2020.
The company is now leveraging the same capabilities in Asetek
SimSports, expanding into a rapidly growing gaming market for
SimRacing hardware and software for immersive end-user experiences.
Clear strategic priorities towards 2025
ambition
Asetek has three strategic priorities for driving growth and
expansion of its business:
- Further develop leadership in the Gaming and Enthusiast liquid
cooling market
- Maintain position and create a sustainable and profitable Data
center business over time
- Becoming a next-level immersive SimSports gaming experiences
provider
Based on the above, the company expects to deliver continued
growth over time and has set a long-term ambition of averaging a
15% annual increase in revenue. This equals a group revenue
ambition of approximately $150
million in 2025, compared to full-year 2020 group revenue of
$72.8 million.
The long-term ambition is reflected in the 2021 group revenue
growth expectation of 10 to 20% as presented in the Q4 2020 and
2020 annual report, published on 24 February
2021. The 2021 gross margin is expected to decrease to the
45%-level in 2021, from 47% in 2020. The Company recognizes
uncertainty related to potential impact from COVID-19 over time.
Any such uncertainty is not included in the expectations.
CEO comment
Commenting on Asetek's strategic development and long-term
ambition, CEO André Sloth Eriksen said: "Over the last 15 years we
have grown more than 15% per year on average and we expect to
continue to grow at the same pace in the years to come. The liquid
cooling business had a record year in 2020 on the back of high
activity in both the Gaming and Enthusiast and Data Center
business. Our global supply chain and operating platform confirmed
our scalability. That platform combined with our dedication to
innovation and financial flexibility, positions us to continue to
develop our leading liquid cooling business and expand into the
SimSports gaming market to drive long-term growth."
CMU material
The CMU presentation is attached to this release and is also
available online at www.asetek.com (https://ir.asetek.com/) and
www.newsweb.no, as well as through news agencies.
For more information on Asetek's SimSports development and
products, visit Aseteksimsports.com.
Event details
Participation is possible via webcast and conference call. The
event starts at 10:00 CET and is
expected to last for up to two hours and includes a live Q&A
session at the end. Questions to the management can be submitted in
writing via the webcast window during the event or by phone via the
conference call during the Q&A session at the end of the
event.
Please join Asetek Capital Markets Update and Q&A online via
this
link: https://streams.eventcdn.net/asetek/2020q4/
Conference call details
Please dial one of the following numbers to join the conference
call and to ask questions during the Q&A session:
Denmark:
|
+45 7872
3251
|
Germany:
|
+49 692 222 391
65
|
United
States:
|
+1 833 823
0589
|
Norway:
|
+47 2396
3688
|
United Kingdom:
|
+44 333 300
9270
|
Please note, that if you follow the webcast via the above URL,
you will experience a 30 second delay. The web page works best in
an updated browser - Chrome is recommended.
For further information, please contact:
Peter Dam Madsen, Chief Financial
Officer
Mobile: +45 2080 7200
investor.relations@asetek.com
About Asetek:
Asetek, the creator of the all-in-one liquid cooler, is the global
leader for liquid cooling solutions for high performance gaming and
enthusiast PCs, and environmentally aware data centers. Founded in
2000, Asetek is headquartered in Denmark and has operations in China, Taiwan
and the United States. Asetek is
listed on the Oslo Stock Exchange (ASTK.OL).
www.asetek.com
Asetek A/S
Assensvej 2
DK-9220 Aalborg East
Denmark
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Release
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https://mb.cision.com/Public/6758/3299873/b36f467a2c997667.pdf
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04MAR2021 Asetek CMU
Presentation
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SOURCE Asetek