Vectron Systems AG: Vectron increases sales in the first half of 2020 despite COVID 19 pandemic
DGAP-News: Vectron Systems AG / Key word(s): Half Year Results
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- Continued high investments in the digital business
- Demand picks up again
Vectron Systems AG (Vectron), a leading provider of intelligent, digitised POS systems consisting of hardware, software and cloud services, with focus on the catering and bakery trade, has increased sales in the first half of 2020 by 5.0 percent to around EUR 12.6 million according to preliminary calculations. Due to investments in the digital business of around EUR 1.7 million, the EBITDA loss increased slightly to EUR 1.3 million (2019 H1: EUR -1.0 million). Vectron thus continued to be operationally profitable in the core business in the first half of 2020.
Against the background that the majority of the target sector, hospitality, had to close down for a long time during the COVID 19 pandemic and for this reason many Vectron retailers were on short-time working at the same time, the increase in sales is more than satisfactory. The fact that, despite these adverse circumstances, sales rose slightly compared to the same period of the previous year is due to the ongoing business in the bakery industry and the increase in business resulting from the change in the statutory fiscal regulations. Originally, the transitional period for the introduction of the Technical Safety Equipment (TSE) was to expire by 30 September 2020. From this date, the use of POS systems without TSE was to be subject to penalties of up to EUR 25,000 per infringement.
As a result of the Corona crisis, which had a dramatic impact on the catering trade in particular, many industry associations suggested extending the non-application decree beyond 30 September 2020. In some cases, very long additional periods were demanded. Now, most of the federal states have only approved an extension by a further 6 months until 31 March 2021. This, however, only if the taxpayer can prove that he has placed a binding order for the upgrade of his existing POS system or the installation of a new one before 30 September 2020.
For this reason, the Management Board of Vectron Systems AG assumes that business will continue to pick up in the second half of the year. By March 31, 2021, all POS systems in Germany must now either be retrofitted or replaced.
The detailed Half-Year Report 2020 will be available for download on the homepage (www.vectron-systems.de) towards the end of August 2020.
With more than 200,000 installations, the listed Vectron Systems AG is one of the leading European manufacturers of POS systems. Stable hardware combined with flexible, reliable software has made Vectron a market leader within the hospitality and bakery industries in German-speaking countries and in Benelux. Several hundred specialist trade partners distribute the products internationally. Digital Cloud Services are offered under the brand names myVectron and bonVito. The spectrum ranges from loyalty and payment functions to online reservations and online reporting. All the services are directly connected to the POS system. More information available at www.vectron.de.
Vectron Systems AG
48155 Münster, Germany
phone +49 (0) 2983 908121
mobile +49 (0) 170 2939080
fax +49 (0)251 2856-560
28.07.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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|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|
|EQS News ID:||1103637|
|End of News||DGAP News Service|