Münster, June 20^th 2022: After a weaker business in the second quarter than initially assumed, the Board of Vectron Systems AG adjusts the forecast for the current business year 2022.

In the context of possible supply chain problems and high demand at the same time, Vectron specialist dealers had built up high stocks towards the end of previous year. Contrary to expectations, Vectron was able to avoid supply bottlenecks as far as possible, and dealers have now largely reduced their excess stocks in the first months of the business year 2022. This resulted in Vectron's sales to these specialist dealers being dampened accordingly. According to Vectron's surveys, this destocking is far advanced and should therefore have less of an impact in the second half of the year.

For the business year 2022, the company therefore expects sales of EUR 27.0m to EUR 30.0m with an EBITDA of EUR -0.8m to EUR 0.8m according to IFRS accounting. In the previous forecast of 1st of March 2022, the company planned sales of EUR 33.0m to EUR 36.0m with an EBITDA of EUR 1.9m to EUR 3.4m.

However, the structural shift towards digital services continues steadily, relatively unaffected by the distortions in cash register markets caused by external events. The Executive Board continues to expect a significant increase in recurring revenues, i.e. from EUR 6,5m in 2021 to a level of EUR 9,0m to 9,5m (previous forecast EUR 9,8m).



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