VIA optronics AG Announces Plans for a Shared Services Center

Rhea-AI Summary

VIA optronics AG (NYSE: VIAO) announced plans to establish a shared services center in the Philippines, consolidating its administrative and global services. This initiative aims to enhance operational efficiency and reduce costs, allowing VIA's global sites to prioritize essential functions like operations and customer support. CEO Jürgen Eichner highlighted that this move will free up resources to capitalize on growth opportunities, particularly in the automotive, industrial, and consumer markets in China, amid rising demand for interactive display solutions.

Positive

• Establishment of a shared services center in the Philippines to consolidate administrative functions and reduce costs.
• Focus on enhancing operational efficiencies and prioritizing critical business functions.
• Increased resource availability to target growth opportunities in the automotive and consumer markets in China.

Negative

• None.

NUREMBERG, Germany--(BUSINESS WIRE)-- VIA optronics AG (NYSE: VIAO) (“VIA” or the “Company”), a leading supplier of interactive display systems and solutions, today announced plans for a shared services center in the Philippines.

The Company plans to consolidate its administrative and global services into its subsidiary in the Philippines. The consolidation is expected to both drive synergies and lower cost, while allowing VIA’s global sites to focus on business-critical functions like operations and customer support with the aim of accelerating revenue for the Company’s products and solutions.

Jürgen Eichner, CEO and founder of VIA optronics AG commented, “We are making great strides in our efforts to improve both efficiencies and our competitiveness at VIA’s global sites as demand for our interactive display and sensor solutions portfolio and services continues to grow. This consolidation is a key step, using digitalization to consolidate our global reporting systems. It will be particularly effective in China, where we continue to see significant growth opportunities in the automotive, industrial and consumer end markets. The consolidation will free up resources to address these opportunities, enabling us to capitalize on this tremendous local growth potential.”

About VIA:
VIA is a leading provider of interactive display solutions for multiple end markets in which superior functionality or durability is a critical differentiating factor. Its customizable technology is well-suited for high-end markets with unique specifications and demanding environments that pose technical and optical challenges for displays, such as bright ambient light, vibration and shock, extreme temperatures, and condensation. VIA’s interactive display systems combine system design, interactive displays, software functionality, cameras, and other hardware components. VIA’s intellectual property portfolio, process know-how, optical bonding, metal mesh touch sensor and camera module technologies provide enhanced display solutions built to meet the specific needs of its customers.

Forward-Looking Statements
Statements in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute “forward-looking statements.” These statements include, but are not limited to, statements relating to the expected trading commencement and closing dates. The words, without limitation, “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these or similar identifying words. Forward-looking statements are based largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy, short-term and long-term business operations and objectives, and financial needs. These forward-looking statements involve known and unknown risks, uncertainties, changes in circumstances that are difficult to predict and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statement, including, without limitation, the risks described under Item 3. “Key Information—D. Risk Factors,” in our Annual Report on Form 20-F as filed with the US Securities and Exchange Commission. Moreover, new risks emerge from time to time. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may make. In light of these risks, uncertainties and assumptions, the forward-looking events and circumstances discussed in this release may not occur and actual results could differ materially and adversely from those anticipated or implied in the forward-looking statements. We caution you therefore against relying on these forward-looking statements, and we qualify all of our forward-looking statements by these cautionary statements. Any forward-looking statements contained in this press release are based on the current expectations of VIA’s management team and speak only as of the date hereof, and VIA specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221011005892/en/

Investor Relations for VIA optronics:

Lisa Fortuna

Sam Cohen

Alpha IR Group

VIAO@alpha-ir.com

Phone: +1 312-445-2870



Media:

Alexandra Müller-Plötz

AMueller-Ploetz@via-optronics.com

Phone: +49-911-597 575-302

Source: VIA optronics AG