DGAP-Adhoc: Vectron Systems AG: Vectron launches programme to strengthen earnings sustainably
DGAP-Ad-hoc: Vectron Systems AG / Key word(s): Profit Warning/Forecast
Vectron Systems AG: Vectron launches programme to strengthen earnings sustainably
22-Aug-2022 / 11:16 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
Münster, 22 August 2022: Vectron Systems AG has decided on the cost reduction programme called "Fit for Future". This is intended to gradually increase the company's earning power within the next 12 months despite the challenging economic environment, without affecting growth in the field of digital services.
This is to be achieved mainly by outsourcing hardware production steps, focusing on core markets and products, and consistently optimising and automating processes. This will result in substantial cost savings. In contrast, no savings are to be made in strategically central areas of product development. The company expects monthly savings of EUR 150,000 to EUR 180,000 after completion of the programme. The restructuring costs incurred, primarily severance payments, will mainly be incurred in the current financial year 2022 or reflected in provisions for costs in the following year. These expenses will be reported separately in the future. Overall, the company expects one-off charges of approximately EUR 1.25 million.
Therefore, the planning for the 2022 financial year will be adjusted accordingly. Due to the one-off costs for the "Fit for Future" programme, the company continues to assume revenues of EUR 27.0 to EUR 30.0 million under IFRS accounting, with EBITDA of approximately EUR -2.05 million to approximately EUR -0.45 million. In the previous forecast of 20 June 2022, EBITDA of EUR -0.8 million to EUR 0.8 million was assumed.
Contact external IR service provider:
Meister Consulting GmbH
Im Schling 3
59955 Winterberg
phone: +49 (2983) 90 81 21
fax: +49 (2983) 90 81 23
E-Mail: meister@meisterconsult.com
This is to be achieved mainly by outsourcing hardware production steps, focusing on core markets and products, and consistently optimising and automating processes. This will result in substantial cost savings. In contrast, no savings are to be made in strategically central areas of product development. The company expects monthly savings of EUR 150,000 to EUR 180,000 after completion of the programme. The restructuring costs incurred, primarily severance payments, will mainly be incurred in the current financial year 2022 or reflected in provisions for costs in the following year. These expenses will be reported separately in the future. Overall, the company expects one-off charges of approximately EUR 1.25 million.
Therefore, the planning for the 2022 financial year will be adjusted accordingly. Due to the one-off costs for the "Fit for Future" programme, the company continues to assume revenues of EUR 27.0 to EUR 30.0 million under IFRS accounting, with EBITDA of approximately EUR -2.05 million to approximately EUR -0.45 million. In the previous forecast of 20 June 2022, EBITDA of EUR -0.8 million to EUR 0.8 million was assumed.
Contact external IR service provider:
Meister Consulting GmbH
Im Schling 3
59955 Winterberg
phone: +49 (2983) 90 81 21
fax: +49 (2983) 90 81 23
E-Mail: meister@meisterconsult.com
22-Aug-2022 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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