Vectron Systems AG: Coronavirus affects planning but is no existential danger

Vectron Systems AG / Key word(s): Change in Forecast
Vectron Systems AG: Coronavirus affects planning but is no existential danger
17-March-2020 / 13:26 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

After various neighbouring countries have already taken drastic measures to contain the coronavirus, such measures have now also been taken in Germany. Vectron Systems AG assumes that these measures will be intensified.
The Vectron target branch gastronomy now has to accept considerable restrictions up to temporary closures. Although sales at Vectron were still considerably higher than in the previous year until the beginning of March, the company assumes that the upcoming measures of the government will temporarily also have a strong negative effect on the sales of investment goods such as POS systems. It is currently not possible to say for sure how long the impairment will last. For this reason, it is currently not possible to make any serious predictions about the course of business in 2020.
Due to this unforeseeable special situation, the management is withdrawing its November 2019 forecast of generating sales of at least EUR 50 million with an EBIT margin in the low double-digit percentage range in the current 2020 financial year. 
As a capital increase with gross issue proceeds of around EUR 11.0 million was successfully placed in January, the company has sufficient liquid funds to be able to survive a prolonged lean period if necessary.
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]

17-March-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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