Vectron Systems AG: Impact of the ongoing lockdown on Vectron planning 2021

Münster, 10 February 2021: As recently reported, the company assumes that strong demand can be expected with the end of the Corona lockdown. This is especially true in view of the fact that so far only 30 to 40 percent of the target sector, the hospitality industry, has converted their POS systems in accordance with the new legal regulations. This is also indicated by the relatively good sales during the lockdown, although Vectron assumes that these would have been considerably higher without the Corona measures. In August last year, even before the second Corona lockdown became known, the company had forecast within its medium-term planning that sales in 2021 would increase to approx. EUR 50.0 million with a simultaneous EBITDA margin of 20 percent.
Since the politicians today extended the lockdown again and were unable to make any clear statements on the final termination of the current lockdown measures, the original planning for 2021 is increasingly fraught with uncertainty. For this reason, the company now considers it advisable to withdraw it now as a precaution.
The Executive Board justifies its nevertheless positive assessment for the time after the lockdown with a pent-up backlog demand and with the still valid introduction date of 01.04.2021 for the obligatory conversion of the cash register systems to the new fiscal regulations. Many businesses have suspended the necessary investments for this because of the closures, but would have to make up for this immediately after reopening.
 
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