Asetek (One-pager): Guidance reinstated amidst market challenges
Read the latest Asetek One-pager as the company reinstates its guidance, which was previously suspended amidst market challenges. Asetek restated its guidance, now expecting annual revenues of USD 52-55m FY 2024, with 1-4% EBITDA margin. The new guidance reflects year-on-year revenue declines of -32% to -28%, from -5% to 5% previously, with the revision driven by market challenges in its Liquid Cooling business.
Asetek’s end-user market within Liquid Cooling has faced weakness in 2024, leading a larger customer to exit the market and reducing order volumes from its high-performance computer hardware OEM customers. The company maintained its guidance for 40-60% year-on-year revenue growth in its SimSports business unit.
Read the full One-pager to learn more about Asetek, its investment case, key investment risks and reason, and valuation perspectives against a peer group.
Disclaimer: HC Andersen Capital receives payment from Asetek for a digitalIR/corporate visibility subscription agreement. /Philip Coombes 13:20 03.07.2024
Asetek
Asetek is a global leader within liquid cooling solutions for high-end PC’s and also produces high-end equipment for SimSports. Asetek was listed on the OBX Oslo Stock Exchange in 2013. Asetek’s liquid cooling of high-end PC’s and eSports enthusiasts is its largest segment. Its sealed loop liquid cooler supports the thermal challenges of the computers and can also be implemented at data centers to provide significant energy savings and recapturing of heat against the air cooling industry norm; however, this segment remains relatively smaller. In 2021 Asetek made its first expansion into the SimSports Gaming market with its high-end SimRacing pedals, designed to create an immersive experience for sim racers. Asetek plans to expand further into the SimRacing value chain with ambitions to release wheelbases, steering wheels, shifters, and other end-user customization options.
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