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UK GDP reading for January will be in front and centre of investors' minds

Vectron Systems AG meets sales forecast 2020 despite Corona restrictions

·3-min read

DGAP-News: Vectron Systems AG / Key word(s): Results Forecast
08.02.2021 / 08:08
The issuer is solely responsible for the content of this announcement.

Münster, February 08, 2021: Vectron Systems AG (Vectron), a leading provider of intelligent, digitized POS systems consisting of hardware, software and cloud services, with a focus on the catering and bakery sectors, has generated sales of around EUR 28.0 million in the business year 2020, according to preliminary calculations. Compared to fiscal 2019, this represents an increase of 11 percent despite the Corona pandemic. With sales of around EUR 7.8 million (Q4 2019 around EUR 7.7 million), the fourth quarter was very satisfactory from the company's point of view, despite considerable restrictions due to the second lockdown. Thus, Vectron landed within its own sales forecast (EUR 25.0m to EUR 29.0m) for the full year.
Currently, Vectron's operational business is still hampered by the ongoing lockdown, as most of the businesses in the target sector gastronomy are closed. Despite these adverse circumstances, Vectron has started well into the new year 2021. With sales of around EUR 2.4 million, the company was even able to slightly exceed the January 2020 sales according to preliminary calculations (Jan. 2020 around EUR 2.3 million).
The further course of the fiscal year 2021 depends mainly on the length of the lockdown. Management assumes that there will be strong demand for POS systems with the end of the lockdown, as the majority of businesses do not yet use the legally required technical security equipment (TSE) and therefore need to act urgently.
Thanks to the company's balance sheet strength with an equity ratio (Dec. 31, 2020) of about 80%, Vectron is well prepared for the future. Investments, for example in the stock of POS systems, for the expected high sales have already been made. In addition, a loan with a volume of EUR 10.0 million was repaid as scheduled at the end of the business year 2020. Nevertheless, the company currently has liquid funds in the amount of EUR 10.9 million. Thus, Vectron considers itself well positioned not only to master the current situation, but also to fully benefit from the expected boom after the end of the Corona pandemic.

About Vectron:
With more than 225,000 installations, the listed Vectron Systems AG is one of the largest European manufacturers of POS systems. Stable hardware combined with flexible, reliable software has made Vectron the market leader for POS solutions in German-speaking countries and in Benelux in the catering and bakery sectors. Several hundred specialized trade partners sell 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 services are directly linked to the POS system. For more information, visit 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
tobias.meister@vectron.de


08.02.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

Language:

English

Company:

Vectron Systems AG

Willy-Brandt-Weg 41

48155 Münster

Germany

Phone:

0251/ 28 56 - 0

Fax:

0251/ 28 56 - 564

E-mail:

info@vectron.de

Internet:

www.vectron.de

ISIN:

DE000A0KEXC7

WKN:

A0KEXC

Indices:

Scale 30

Listed:

Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Stuttgart, Tradegate Exchange

EQS News ID:

1166488


 

End of News

DGAP News Service

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