Vectron Systems AG: Vectron returns to the black operationally in Q1 2021

DGAP-News: Vectron Systems AG / Key word(s): Quarter Results
03.05.2021 / 07:00
The issuer is solely responsible for the content of this announcement.

Vectron Systems AG (Vectron), a leading provider of intelligent, digitalised POS systems consisting of hardware, software and cloud services, with a focus on the gastronomy and bakery sectors, was able to increase both sales and earnings in Q1 2021. Compared to the same quarter of the previous year, revenue rose from EUR 7.5 million to EUR 8.6 million. EBITDA improved from EUR -0.7 million to EUR 0.6 million. 
The wholly-owned subsidiary bonVito GmbH also had a good start to the year 2021. Due to the months-long closures of many establishments, transactions decreased significantly, but this was offset by the increasing number of participating shops. As a result, bonVito sales rose to EUR 0.8 million (Q1 2020: EUR 0.7 million) while EBITDA remained unchanged from the same quarter last year at EUR 0.2 million. The bonVito figures are not yet consolidated. It is planned to merge the company with Vectron in the course of the year with retroactive effect from 01.01.2021. 
On a consolidated basis, Vectron Group would have achieved sales of EUR 9.0m in Q1 2021 (Q1 2020: EUR 8.0m). EBITDA would amount to EUR 0.8m (Q1 2020: EUR -0.5m).
The increase in recurring revenues (including bonVito) is particularly pleasing. In the first quarter of 2021, this key figure rose year-on-year from around EUR 1.0 million to around EUR 1.6 million. The transformation from cash register manufacturer to digital service provider is thus gathering pace. 
This positive development is remarkable against the background of the forced closures of Vectron's target sector gastronomy, which have been going on for months. 
Since a large part of the clientele has not yet been converted to the new legal requirements and various government programmes financially support the investments of the target industries in new technology, the company is optimistic for the further course of the business year 2021. 
In the company's view, however, the decisive tailwind for business will probably only be triggered by the lifting of the lockdown.
 
About Vectron:
With more than 240.000 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 German-speaking countries and in Benelux in the catering and bakery sectors. Several hundred specialized trade partners sell 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 services are directly linked to the POS system. For more information, visit 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]

03.05.2021 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.
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