PR Newswire | Aug 18, 2020 01:29AM EDT

08/18 00:28 CDT

Asetek - Update to Full Year 2020 Guidance OSLO, Norway, Aug. 18, 2020

OSLO, Norway, Aug. 18, 2020 /PRNewswire/ -- Asetek today updated its full-year 2020 revenue and pre-tax profit expectations due to continued strong demand for Gaming and Enthusiast products and corresponding recent improvements in supply chain capabilities that enable this demand to be serviced.

Asetek expects to report an increase in Group revenue of 15% to 25% in 2020 compared with 2019. Gross margin is expected to increase from 2019, and the Company expects an income before tax of about $7-8 million.

This is the second update to full-year expectations published by the Company in 2020. The previous expectations, which were communicated on July 21 and reiterated in the second-quarter report, were for a revenue increase of 5% to 15% compared with 2019, an increase in gross margin from 2019 and 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:

Andr S. Eriksen CEO and Founder+45-2125-7076Email: ceo@asetek.com

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SOURCE Asetek