Asetek (One-pager): Mid-term targets raised following major OEM returning customer
Summary
- Asetek has increased its mid-term Liquid Cooling revenue target to over USD 65m, supported by a new agreement with a returning top-three OEM customer, with shipments starting in 2026.
- The SimSports segment aims for revenues above USD 50m by 2024, despite current tariff challenges, with growth expected from production expansion and a mass-market product launch in H2 2025.
- Following a DKK 88m rights issue, Asetek is well-capitalized to pursue its strategy, with management confident in achieving profitable growth across divisions from 2026.
- HC Andersen Capital, which receives payment from Asetek, provides this information as part of a corporate visibility agreement.
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Read the latest Asetek One-Pager following the upgraded mid-term guidance for the Liquid Cooling segments, and suggested return to growth in 2026.
Following a new long-term agreement with a returning top-three OEM customer, Asetek has raised its mid-term Liquid Cooling revenue target to above USD 65m (from >USD 50m) while maintaining an adjusted EBITDA margin above 25%. Shipments under the agreement, with a minimum commitment of USD 35m, are set to begin in 2026, supporting a return to growth from that year onward.
Asetek’s SimSports segment continues to scale, targeting revenues above USD 50m (vs. USD 9.6m in 2024) and single-digit EBITDA margins. While tariff headwinds have weighed on near-term results, production expansion in Malaysia and the H2 2025 mass-market product may position the segment for renewed growth.
Disclaimer: HC Andersen Capital receives payment from Asetek for a Digital IR/corporate visibility agreement. Philip Coombes, 13:20 17.10.2025
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