Münster, 31st October 2022: Vectron Systems AG (Vectron), a leading supplier of intelligent, digitalized POS systems consisting of hardware, software and cloud services, with a focus on the hospitality and bakery sectors, continues to operate in a challenging market environment.

In addition to the expected decline in sales due to the phasing out of the conversion of POS systems to the new fiscal regulations, the generally difficult environment is also causing a subdued propensity to invest in the target markets. As a result, sales according to the IFRS accounting method, declined by 38.6 percent (9M 2021: EUR 29.8 million) to EUR 18.3 million compared to the same period of the previous year 2021. At the same time, a loss (EBITDA) of EUR 2.6 million was incurred, following a profit of EUR 5.1 million in the same period of the previous year. However, half of this loss results from provisions for the already reported cost reduction program, which is expected to lead to monthly savings of EUR 150,000 to EUR 180,000 in the medium term.

Recurring revenues continue to develop positively. These increased in the first nine months of 2022 compared to the same period of the previous year from EUR 4.6 million to EUR 6.5 million. Thus, Vectron has already generated as many recurring revenues after the 3rd quarter as in the entire year 2021.

This solid growth, in a negative environment, confirms the strategy of expanding digital services. The company therefore plans to expand the product range in this area step by step in the coming months, as it sees itself only at the beginning of development here.

After the traditionally weaker summer quarter, the company expects revenues to pick up in the final quarter of 2022 due to various factors.



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