Vectron Systems AG: Annual result 2017 after approval of the financial statements by the Supervisory Board of Vectron Systems AG
Vectron Systems AG / Key word(s): Final Results
The first half of 2017 was still characterized by strong demand for POS systems due to the decree of the Ministry of Finance on the individual registration obligation, the transition period of which expired on December 31, 2016.
As already reported in Q3/2017, demand returned to normal by mid-2017, as over 30% of customers have not yet implemented the changeover. Through targeted marketing campaigns, Vectron succeeded in raising part of this potential in the fourth quarter. At EUR32.38 million, the company therefore only missed the record sales of EUR33.71 million achieved in 2016 by just under 4%. Moreover, Vectron was able to defend its premium claim in the market and increase margins from 54.4% to 55.6%.
In addition to its strong core business, the company continued to invest consistently in new digital business areas such as the "GetHappy" cooperation with Coca Cola.
The increase in personnel expenses of +12.6% and further strategic investments in the field of software development serve to secure the digitization strategy at "GetHappy" and the other Vectron Cloud services.
Based on these major investments, the company achieved EBITDA of EUR2.25 million and an annual result of EUR1.07 million.
For 2018 Vectron expects a rather restrained demand in the POS core business compared to 2017. In the coming fiscal year 2019, however, Vectron expects a significant boom in demand due to the effect of the Act on Protection against Manipulation of Digital Basic Records and the Cash Security Ordinance, which prescribe the use of a technical security device in all cash registers from January 1, 2020 under threat of high fines.
Vectron Systems AG
48155 Münster, Germany
phone +49 (0)172 5300432
fax +49 (0)251 2856-564
|Company:||Vectron Systems AG|
|Phone:||0251/ 28 56 - 0|
|Fax:||0251/ 28 56 - 564|
|Listed:||Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Stuttgart, Tradegate Exchange|
|End of Announcement||DGAP News Service|