Vectron Systems AG: Coronavirus affects planning but is no existential danger
Vectron Systems AG / Key word(s): Change in Forecast After various neighbouring countries have already taken drastic measures to contain the coronavirus, such measures have now also been taken in Germany. Vectron Systems AG assumes that these measures will be intensified. The Vectron target branch gastronomy now has to accept considerable restrictions up to temporary closures. Although sales at Vectron were still considerably higher than in the previous year until the beginning of March, the company assumes that the upcoming measures of the government will temporarily also have a strong negative effect on the sales of investment goods such as POS systems. It is currently not possible to say for sure how long the impairment will last. For this reason, it is currently not possible to make any serious predictions about the course of business in 2020. Due to this unforeseeable special situation, the management is withdrawing its November 2019 forecast of generating sales of at least EUR 50 million with an EBIT margin in the low double-digit percentage range in the current 2020 financial year. As a capital increase with gross issue proceeds of around EUR 11.0 million was successfully placed in January, the company has sufficient liquid funds to be able to survive a prolonged lean period if necessary. 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 17-March-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
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: | info@vectron.de |
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: | 999313 |
End of Announcement | DGAP News Service |