The listed Vectron Systems AG assumes that when the corona lockdown ends, strong demand for its products can be expected.
This is especially against the background that so far only 30 to 40 percent of the target industry, catering, have converted their till systems in accordance with the new legal regulations. This is also indicated by the relatively good sales in lockdown, although it is obvious for Vectron that these would have been significantly higher without the Corona measures. In August of last year, before the second corona lockdown became known, the company forecast within the medium-term planning that sales in 2021 would increase to around EUR 50.0 million with a simultaneous EBITDA margin of 20 percent .
With more than 225,000 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 specialist retail 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 connected to the cash register system.
Since politicians have again extended the lockdown today and were unable to make any clear statements about 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 necessary to withdraw this as a precaution.
The Management Board justifies its positive assessment for the time after the lockdown with a pent-up need to catch up and with the implementation date of April 1st, 2021 for the mandatory conversion of the cash register systems to the new tax regulations. Many companies have suspended the necessary investments because of the closings, but would have to do so immediately after reopening.