Vectron Systems AG: Vectron publishes preliminary figures for the business year 2021

Vectron Systems AG / Key word(s): Annual Results
Vectron Systems AG: Vectron publishes preliminary figures for the business year 2021
25-Jan-2022 / 16:42 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.

Münster, January 25, 2021: Vectron Systems AG (Vectron), a leading provider of intelligent, digitalized POS systems consisting of hardware, software and cloud services, with a focus on hospitality and bakery industries, has prepared preliminary figures for the business year 2021. As Vectron will change its accounting from HGB to IFRS with the annual financial statements 2021, the values according to HGB as well as IFRS will be published for better comparability. In the future, the company will only report IFRS figures. Due to the merger of the former bonVito GmbH into Vectron Systems AG in 2021, the 2020 figures do not include any effects from bonVito GmbH.
According to IFRS, Vectron Systems AG achieved sales of about EUR 38 million (previous year: EUR 25 million) and an EBITDA of EUR 4.8 million (previous year: EUR -1.7 million) in the business year 2021. According to HGB, sales amounted to EUR 40.2 million (previous year: EUR 27.8 million) and an EBITDA of EUR 4.3 million (previous year: EUR -2.2 million). The results are thus slightly below the previous HGB forecast range. From the company's point of view, this was due in particular to the impact of the recent Corona measures on the hospitality trade. Originally, sales of EUR 40.9 million to EUR 42.4 million and EBITDA of EUR 4.5 million to EUR 5.5 million had been expected. In addition, the result was burdened by one-off costs of EUR 0.14 million for an unrealized acquisition.
The business with recurring revenues from digital services increased significantly in the financial year 2021. For example, recurring revenues increased by 70 percent to EUR 7.1m compared to FY2020.Vectron will continue to focus on both expanding the range of digital services and steadily increasing the proportion of Vectron's large customer base that uses them.
The company ends the year with a cash balance of EUR 19.9 million. This compares to bank liabilities of only about EUR 3.0 million. This means that the company is solidly financed, enabling it to consistently implement its strategy of expanding digital services even in a challenging environment, while at the same time being able to take advantage of opportunities.
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25-Jan-2022 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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