VIA optronics AG (VIAO) Reports Q3 EPS of EUR0.47 on Revenues of EUR43.6M; Provides 4Q Revenue Outlook

VIA optronics AG (NYSE: VIAO) reported Q3 EPS of EUR0.47, versus EUR0.00 reported last year. Revenue for the quarter came in at EUR43.6 million.

Third Quarter 2020 Financial Summary

• Total revenue of €43.6 million, or an increase of 42.5%, compared to €30.6 million in the third quarter of 2019.
  • Display Solutions revenue of €35.9 million, or an increase of 41.9%, compared to €25.3 million in the third quarter of 2019.
  • Sensor Technologies revenue of €7.7 million, or an increase of 45.3%, compared to €5.3 million in the third quarter of 2019.
• Gross profit margin in the third quarter of 2020 of 14.7% compared to 1.6% in the third quarter of 2019.
  • Display Solutions gross profit margin of 14.2% compared to 11.9% in the third quarter of 2019.
  • Sensor Technologies gross profit margin of 16.9% compared to (47.2)% in the third quarter of 2019.
• Operating income of €1.7 million compared to an operating loss of €(5.2) million in the third quarter of 2019.
• Net profit of €1.5 million, or earnings of €0.47 per basic and diluted share, compared to net profit €0.2 million, or loss of €(0.01) per basic and diluted share, in the second quarter of 2020.
• EBITDA of €3.5 million in the third quarter of 2020 compared to an EBITDA loss of €(3.7) million in the third quarter of 2019.
  • Display Solutions EBITDA of €2.1 million compared to an EBITDA loss of €(2.0) million in the third quarter of 2019.
  • Sensor Technologies EBITDA of €1.4 million compared to an EBITDA loss of €(1.7) million in the third quarter of 2019.
• For the third quarter of 2020 and 2019, there have been no adjustments to EBITDA.

“We are very pleased to report a strong first quarter as a public company,” said Jürgen Eichner, CEO & Founder of VIA. “During the quarter, we shipped the first prototypes of a large cold form glass and display assembly for a leading US-based electric vehicle company, marking our first cold form project with a U.S. auto manufacturer, and we expect to begin mass production in early 2021. Our pipeline and outlook remain robust, positioning us well for a strong finish to the year. We expect our momentum to remain strong in 2021 as we begin to ramp up production on this and other important projects.”

“Our third quarter financial results demonstrate continued momentum that exceeded our expectations,” said Daniel Jürgens, CFO of VIA. “Our results reflect strong margin expansion in each of our business segments. We strengthened our balance sheet through the completion of our IPO during the quarter and are well positioned to capitalize on the growth opportunities ahead of us.”

GUIDANCE:

VIA optronics AG sees Q4 2020 revenue of EUR37-40 million.

For earnings history and earnings-related data on VIA optronics AG (VIAO) click here.

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