DGAP-News: va-Q-tec AG / Key word(s): AGM/EGM
va-Q-tec successfully conducts its virtual AGM
In the innovative, multimedia "The Curve" event room at the Vogel Convention center in Würzburg, the Management Board reported in detail on the performance of va-Q-tec AG in the 2019 financial year, for which the actions of the Management Board and Supervisory Board were approved by a clear majority. The very positive business trend in 2019 reflected the climate protection and energy efficiency megatrends, from which va-Q-tec benefited particularly in its TempChain logistics area. In addition to strong revenue growth of 28%, EBITDA more than tripled to EUR 9.7 million in the 2019 financial. Investments in "TempChain 4.0" - an innovative combination of hardware, IoT and IT solutions in the temperature-controlled logistics area - also offer future potential.
Furthermore, the Management Board presented an overview of business performance in the first half of 2020, in which va-Q-tec AG reported profitable growth despite the CoVid-19 pandemic. Continued high demand from the healthcare industry made a special contribution in this context. In the first half of 2020, the high-margin Services business grew by 21% and the Systems business by 77% year-on-year, which more than offset the effects of the CoVid-19-related decrease in the Products business. va-Q-tec is particularly proud to play its part in the fight against the CoVid-19 pandemic: several million test kits have already been transported worldwide in va-Q-tec temperature-controlled containers.
Dr. Joachim Kuhn, CEO and founder of va-Q-tec AG, comments: "We are very pleased by the interest shown in our first virtual AGM, and that everything went smoothly. We already received positive feedback from external participants during the streaming. In addition to the innovative format, the multimedia design received particular praise. We demonstrated that our growth strategy remains intact despite the CoVid-19 pandemic, and that it benefited especially from our strong position in the healthcare sector. However, we are also making good progress with energy-efficient products and solutions for other industries, and are receiving positive signals in this context. This leads us to be very confident about our future prospects."
Further information: www.va-q-tec.com
21.08.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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