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VIA optronics AG is a leading provider of first-class display integration solutions, optical bonding services, and technology licensing packages. The company specializes in creating exceptional sunlight-readable displays, catering to high-demand applications across various market segments including consumer electronics, automotive, and industrial sectors. VIA optronics is renowned for its pioneering role in optical bonding solutions, holding a leading market position thanks to its patented Max VUTM process and proprietary VIA Bond optical bonding material.
With a strong commitment to exceeding quality and reliability standards, VIA optronics ensures that all its products meet the rigorous demands of its diverse clientele. The company offers a range of services from full system integration to standalone displays, enabling seamless implementation in complex environments. Their technological advancements and innovative solutions have cemented their reputation as industry frontrunners.
Despite recent concerns about governance and leadership, particularly surrounding the temporary suspension and subsequent reinstatement of founder Jürgen Eichner due to alleged accounting irregularities, VIA optronics continues to focus on delivering high-quality products and services. The company has faced scrutiny from Cannell Capital LLC, which owns 9.8% of VIAO's American Depositary Receipts, and is advocating for more transparent and ethical management practices.
As VIA optronics navigates these challenges, their core business operations remain robust, supported by a dedicated team of professionals and cutting-edge technology. For more information about VIA optronics AG, visit their website at www.via-optronics.com, or refer to their imprint.
VIA optronics AG (NYSE: VIAO) has received IATF 16949 certification for automotive quality management systems at its Nuremberg, Germany site. This certification enhances their capacity to serve the automotive sector, particularly in electric vehicle markets. CEO Jürgen Eichner emphasized that this achievement reflects their commitment to high-quality manufacturing and positions them as a reliable supplier for automotive and industrial customers. IATF 16949 aims to improve quality management and reduce waste in the automotive supply chain.
VIA optronics AG (NYSE: VIAO) has announced the incorporation of a new entity in the Philippines, VIA optronics (Philippines), Inc., aimed at enhancing its camera design and development capabilities. This move is a transition from a partnership with Integrated Micro-Electronics, Inc. (IMI), which is set to conclude on December 31, 2021. Approximately 20 employees will join VIA in January 2022. The new entity will cater to automotive OEMs, providing tailored camera solutions to meet increasing safety and security demands in the automotive industry.
VIA optronics AG (NYSE: VIAO) announced its virtual 2021 annual general meeting (AGM) set for December 29, 2021, due to COVID-19 safety concerns. The meeting will include the resignation of two supervisory board members, Jerome Tan and Diosdado Banatao, with Arthur Tan and Shuji Aruga proposed as replacements. VIA expects its 2021 EBITDA to range from €(2) to €(4) million, impacted by ongoing investments for growth and challenges related to global component shortages. The company is targeting €500 million in annual revenue within five years, assuming market improvement.
VIA optronics AG (NYSE: VIAO) reported a 13.3% increase in total revenue for Q3 2021, reaching €49.4 million, driven by a 17.3% rise in Display Solutions. Automotive revenue surged 137% year-over-year, accounting for 42% of total revenue. However, gross profit margin fell to 13.8% from 14.7% due to rising costs. The company experienced a net loss of €0.9 million compared to a profit of €1.5 million in Q3 2020. Looking ahead, VIA expects Q4 revenue between €40 million and €45 million, amid supply chain challenges.
VIA optronics AG (NYSE: VIAO) announced preliminary unaudited financial results for Q3 2021, estimating total revenue at approximately €49 million, a 12% increase from €43.6 million in Q3 2020. This figure aligns with the upper range of the previous guidance of €45 million to €50 million. The company also reported positive EBITDA for the quarter. CEO Jürgen Eichner attributed this growth to strategic supply chain management and successful integration of new team members. A full financial report will be released on November 17, 2021.
VIA optronics AG (NYSE: VIAO) will showcase innovative display technologies at the Society for Information Display (SID) Vehicle Displays & Interfaces 28th Annual Symposium & Expo on September 28-29, 2021, in Livonia, Michigan. The company will present its Interactive Display & Sensing System, emphasizing robust automotive applications and superior functionality. VIA's products aim to enhance user experience in challenging environments through advanced optical bonding and touch sensor technologies.
VIA optronics AG (NYSE: VIAO) announced a successful ramp-up of mass production at its German facility, which can produce about 10,000 high-end 3D shaped car dashboard assemblies per month. This new facility expands production capacity to 60,000 units monthly for a prominent US electric vehicle manufacturer. The facility includes 1,500 square meters for potential expansion, enhancing VIA's ability to cater to innovative electric vehicle models. CEO Jürgen Eichner emphasized the strategic significance of this expansion for automotive dashboard display assemblies.
VIA optronics AG (NYSE: VIAO) reported Q2 2021 revenue of €43.7 million, an 11.5% increase year-over-year, with Display Solutions revenue up 14.7% at €37.4 million. Despite this growth, the company experienced a net loss of €4.1 million, up from a loss of €0.02 million in the previous year. Sensor Technologies revenue fell 4.5% to €6.3 million. The gross profit margin improved to 14.0%. VIA expects Q3 2021 revenue between €45 million and €50 million and anticipates full-year growth of about 20%, dependent on global component shortages and COVID-19 impacts.
VIA optronics AG (NYSE: VIAO) will report its second quarter 2021 financial results on September 9, 2021, before US market opening. A conference call will be held at 2:30 p.m. CET / 8:30 a.m. ET to discuss the results and provide an update. Interested parties can join the call using specific dial-in numbers or access the live webcast via the VIA Investor Relations website. VIA specializes in interactive display systems crucial for demanding environments. The company emphasizes its ability to deliver customized solutions tailored to high-end market needs.
VIA optronics AG (NYSE: VIAO) announced the appointment of Dr. Markus Peters as Chief Financial Officer, effective immediately. He succeeds Daniel Jürgens, who is stepping down for personal reasons but will assist in the transition. Dr. Peters brings over 20 years of management experience from notable companies. VIA also reaffirmed its financial guidance, expecting at least 20% revenue growth for fiscal year 2021 compared to 2020, although actual results may differ due to various risks and uncertainties.
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