DGAP-News: Vectron Systems AG: Significant improvement in sales and earnings despite restrictions due to Corona Pandemic in Q3 of 2020

• Despite lockdown in connection with the corona pandemic, demand is increasing
• Positive effects expected by 2022 from cash register conversions
• Forecast confirmed once again

Vectron Systems AG (Vectron), a leading supplier of intelligent, digitalized POS systems consisting of hardware, software and cloud services, with focus on the catering and bakery sectors, increased sales in the third quarter of 2020 by 38.8 percent to EUR 7.6 million compared to the same period of the previous year. Overall, positive EBITDA of EUR 180 thousand (Q3 2019: EUR -565 thousand) was generated in the quarter despite continued high expenditures for the new digital business models. 


Based on the first nine months of the current fiscal year 2020, Vectron was also able to significantly improve both, sales and EBITDA. While revenues increased by 15.5 percent to EUR 20.2 million, the EBITDA loss decreased from EUR 1.6 million to about EUR 1.1 million. 


The improved sales situation resulted almost entirely from business generated on the German market, as all foreign markets were clearly in the red due to the effects of the corona measures. The upturn in business in Germany is mainly due to the first stronger wave of demand in conjunction with the retrofitting of POS systems in accordance with the new legal requirements. 


Management therefore remains very optimistic for the future. Experience shows that the special economic situation will continue beyond the statutory cut-off date (March 31, 2021) due to legal requirements and is likely to continue into 2022. It is becoming apparent that the special economic situation in connection with the legal requirements is likely to continue into 2022. The Board of Management therefore also adheres to the medium-term forecast issued in August. For the current year, this forecast was for sales in the range of EUR 25 to EUR 29 million and EBITDA in the range of EUR -2.0 to EUR 0.25 million.

About Vectron:

With more than 200,000 installations, the listed Vectron Systems AG is one of the leading European manufacturers of POS systems. Stable hardware combined with flexible, reliable software has made Vectron a market leader within the hospitality and bakery industries in German-speaking countries and in Benelux. Several hundred specialist trade partners distribute the products internationally. Digital Cloud Services are offered under the brand names myVectron and bonVito. The spectrum ranges from loyalty and payment functions to online reservations and online reporting. All the services are directly connected to the POS system. More information available at www.vectron.de.


Contact:

Vectron Systems AG

Tobias Meister

Willy-Brandt-Weg 41

48155 Münster, Germany

phone +49 (0) 2983 908121

mobile +49 (0) 170 2939080

fax +49 (0)251 2856-560

[email protected]