July 21 2020 - Asetek communicated in the annual report for 2019 and the first
quarter report for 2020, that the company expected a decline in Group revenue of
5% to 10% in 2020 compared with 2019. Gross margins were expected to increase
from 2019 and the Company expected a positive income before tax.
Following an increase to sales expectations for the rest of 2020, primarily
driven strong demand for the Gaming and Enthusiast product group, Asetek updates
the full year 2020 expectations to a Group revenue increase of 5% to 15%
compared with 2019. Gross margin is expected to increase from 2019, and Asetek
expects an income before tax of about $4-5 million.
The Company recognizes significant uncertainty related to potential impact from
COVID-19 over time. Any such uncertainty is not included in the expectations for
the remainder of 2020.
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 (ASETEK.OL).
For further information, please contact:
CEO and Founder André S. Eriksen
+45 2125 7076, email: ceo@asetek.com