As expected, sales at Vectron Systems AG continued to slow down in the third quarter. The reason for this is the decline in demand following the first phase of the fiscal conversion of POS solutions. This had led to a strong increase in demand in 2016 and 2017.
The company expects that the legally prescribed phase 2 of the POS system fiscalisation will again lead to a significantly increased demand for POS systems from the second half of 2019 onwards.
In line with the assumptions for the transition year, sales in the first nine months of 2018 declined by 24.3% with KEUR 19.220 compared to 2017 (KEUR 25.406).
Vectron has been investing in the development of new digital business areas for years. In the period under review, one-time special expenses in the amount of KEUR 1,343 were incurred for this purpose. In addition, the ongoing personnel costs necessary for the new business areas in the reporting period burdened the result by approx. KEUR 1,620. The combination of declining revenues in the core business and investments in new business areas resulted in a negative EBITDA of KEUR 2,764 (2017: KEUR +2,380). The net result amounts to KEUR -2,055 (2017: KEUR 1,978).
For the 2019 financial year, the company expects a significant improvement in results again due to the second stage of fiscalisation. In addition, the new digital business areas are expected to make their first contributions to revenues and earnings in the coming year. Here, Vectron Systems AG is in advanced cooperation talks and field tests.
Vectron Systems AG
48155 Münster, Germany
phone +49 (0) 2983 908121
mobile +49 (0) 170 2939080
fax +49 (0)251 2856-560
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