Vectron Systems AG: Revised medium-term planning for the financial years 2020-2022

Against the background that the majority of the target industry hospitality had to close down for a long time during the COVID-19 pandemic and it was not clear when it would be possible to reopen, Vectron Systems AG (Vectron) had already withdrawn the forecast for the current year in March 2020. In the meantime, due to the incalculable duration of the official measures and the political discussion about a further extension of the legal introduction of tamper-proof POS systems, the Company was unable to make any reliable forecasts.
With the expiry of the lockdown measures, however, a stable recovery of the companies in the Vectron target sector is now becoming apparent. Furthermore, there are now binding implementation dates for tamper protection. The German federal states have defined different transition periods for this purpose. The legal regulations will be applied everywhere by April 1, 2021 at the latest. This corresponds to an extension of only 6 months compared to the previous period.
On this basis, the Company has now prepared a revised medium-term planning which takes into account the effects of the Corona pandemic. According to the new planning, management now expects sales in a range between EUR 25 and EUR 29 million for the 2020 financial year. This results in an EBITDA in the range of EUR -2.0 million to EUR 0.25 million. Given the great uncertainty about how the pandemic will be dealt with in the coming months, the management has to plan on such a broad basis.
 
In the 2021 financial year, the legal regulation for the introduction of tamper-proof POS systems will now come into force everywhere. This should lead to a considerable surge in demand. Therefore, the company plans to generate sales of around EUR 50 million with an EBITDA margin of approximately 20 percent in the coming 2021 fiscal year.
The 2022 fiscal year planning continues to be dominated by the statutory changeover, but shows a significantly increasing influence of the digital business models. Turnover is expected to be in the range of EUR 65 million in 2022 with an EBITDA margin of approx. 25 percent.
These figures reflect the currently known negative consequences of the COVID-19 pandemic, but also show that the management is still convinced of a very positive development.
The detailed Half-Year Report 2020 will be available for download on the company's homepage (www.vectron-systems.de) at the end of August 2020. 
 
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