Vectron Systems AG: Significant growth of monthly recurring sales

DGAP-News: Vectron Systems AG / Key word(s): Development of Sales
03.12.2020 / 15:39
The issuer is solely responsible for the content of this announcement.

Vectron Systems AG: Significant growth of monthly recurring sales

- Projected annualized recurring revenues of approximately EUR 5.50 million

- Significant increase expected for the future

- Already over 10,000 entry-level digital packages sold

- Extension of Duratec digital services also to the main brand "Vectron"

Münster, December 03, 2020: Vectron Systems AG (Vectron), a leading supplier of intelligent, digitalized POS systems consisting of hardware, software and cloud services, with focus on the catering and bakery sectors, is making very good progress with its new software offers.

In recent years, Vectron has pursued the goal of reducing the dependency on one-off sales of POS systems, which in part fluctuate strongly, with various product innovations and sales approaches and to supplement or replace them with monthly recurring revenues. To this end, the Company has established new products and services in various areas in recent years, for the use of which monthly fixed prices or transaction fees are paid. Meanwhile, this strategy is beginning to bear clear fruit, even in the difficult COVID 19 environment:

Already in 2011 Vectron was one of the first providers to combine cloud-based marketing services with POS systems with the bonVito system. This system is mainly intended for major customers and is currently used in approx. 6,000 branches. More than 5 million active customer cards document a brisk use by consumers. As previously reported, the wholly-owned subsidiary bonVito GmbH has been significantly profitable since last year.

Additionally, in the core area of POS systems Vectron expands the range of corresponding products. For example, the iOS-app "Posmatic" is billed according to time of use. Many users of Vectron POS systems also use additional iOS and Android apps, e.g. a waiter solution for taking orders directly at the table.

Furthermore, the cloud-based entry-level digital package has proved to be extraordinarily successful this year. This package includes a cloud-based data backup, a reporting app, and an update contract. By the beginning of December 2020, the number of contracts had increased from under 2,000 at the beginning of the year to over 10,000. Due to the large number of customers, this fee-based service is already generating noticeable revenues. The Company expects the growth to continue at a similar rate in the coming years as a result of the fiscal changeover.

This year, the company has launched the sale of other digital services such as payment, online orders, online reservations, loyalty cards and voucher solutions, which were largely realized via partnerships with already established providers, under its low-cost second brand "Duratec". A total of over 1,500 contracts were concluded here. The strong growth of the entry-level digital packages will now be used to offer these digital services to the large customer base of the main brand "Vectron". This is scheduled to start in the course of the 1st quarter 2021.

In October 2020, Vectron and its subsidiaries could already achieve recurring revenues of more than EUR 0.45 Mio. with the mentioned products and services, which already corresponds to a sales volume of about EUR 5.50 million per year. The Company is confident that these areas will be significant growth and earnings drivers in the coming years.

About Vectron:

With more than 200,000 installations, the listed Vectron Systems AG is one of the largest European manufacturers of POS systems. Stable hardware combined with flexible, reliable software has made Vectron the market leader for POS solutions in the German-speaking area and in Benelux in the branches gastronomy and bakery. Several hundred specialized 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 reservation and online reporting. All services are directly connected to the POS system. Further information is available at www.vectron.de.


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
[email protected]

03.12.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

Language:English
Company:Vectron Systems AG
Willy-Brandt-Weg 41
48155 Münster
Germany
Phone:0251/ 28 56 - 0
Fax:0251/ 28 56 - 564
E-mail:[email protected]
Internet:www.vectron.de
ISIN:DE000A0KEXC7
WKN:A0KEXC
Indices:Scale 30
Listed:Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Stuttgart, Tradegate Exchange
EQS News ID:1152671


End of NewsDGAP News Service

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