ANTARES VISION GROUP: RESULTS AND GOALS FOR THE FIRST HALF OF 2022
The Board of Directors of Antares Vision Group approved the Group’s consolidated revenues for the first half of 2022 (“1H 2022″)
The Group is tackling with great determination the current climate of macroeconomic and geopolitical uncertainty.
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The Board of Directors of Antares Vision S.p.A. – Italian multinational, leading provider in Track & Trace systems and quality control, which guarantee the transparency of products and supply chains through integrated data management – approved the Group’s consolidated revenues for the first half of 2022 (“1H 2022”).
Emidio Zorzella, Chairman and Joint-CEO of Antares Vision Group, commented: “The Group is tackling with great determination the current climate of macroeconomic and geopolitical uncertainty: the shortage of electronic components, inflation, logistic difficulties, volatile exchange rates, and interest rate hikes have rapidly changed the references points. Consequently, to give the utmost visibility, we have decided to provide more detailed Guidance for FY 2022 and present the Group’s business plan by the year-end. Despite adversities, we continue our path of growth and global leadership, strong of our vision. For FY 2022, we, therefore, foresee consolidated revenues of between €223-230m and EBITDA between €45-50m. The positive orders evolution also supports this Guidance, +31% in 1H22 to €145m FY 2022 revenues, net of a favorable exchange rate trend, are envisaged in a range of organic growth of 14-18%, namely the higher part of the Guidance provided in March 2022 (12-18%). As regards 1H 2022, turnover slowed down concerning the Guidance due to a shortage of components and the resulting delays in deliveries. This, combined with the effects of inflation on electronic components, SG&A, and personnel costs, has impacted 1H 2022 EBITDA, which is lower than the forecasts made at the beginning of the year”.
Massimo Bonardi, Joint-CEO of Antares Vision Group, commented: “To curb inflation (which proved to be much more severe than initially envisaged) as far as possible, the Group has set in motion cost-cutting measures, the search for new and alternative sources of supply and has completed the reengineering of several products to reduce the number of components. Furthermore, to overcome the shortage of components and to guarantee the delivery of orders to customers by year-end, the Group has implemented attentive production planning and brought forward supplies as needed, increasing stock by €12m, a growth of more than 30% compared to December 2021”.
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