Investor Relations

News
Strategy
Publications
Vtion Shares
Share buy-back program
Ad hoc-Releases
Company Structure
Financial Key Figures
Financial Calendar
Corporate Governance
Directors Dealings
AGM
Delisting Purchase Offer

Investor Relations News

Vtion Wireless Technology AG Beats Sales Guidance for Full Year 2011 Results

2011 Preliminary Full Year Results, 2012 Guidance

  • Revenue of Euro 77 millions exceeds guidance of Euro 75 million
  • EBIT margin of 10.3% in line with margin guidance of 10%-12%
  • Vtion expects growth to resume in 2012 with sales between Euro 80 million and 100 million and a stable EBIT margin

 

Frankfurt, 13 February 2012

Vtion Wireless Technology AG, one of the leading suppliers of wireless data solutions for mobile computing in China, announces its preliminary results for FY 2011 and guidance for 2012. The company achieved a revenue of Euro 77 million, in line with a guidance of Euro 75 to Euro 100 million, and an EBIT margin of 10.3%, consistent with the forecasted 10% to 12%. The company expects its EBIT margin to remain stable for 2012, while revenue is expected to grow to Euro 80-100 million.

Vtion's results for 2011 were driven nearly exclusively by its wireless data terminal segment (wireless data cards) for the first half of the year, while it saw growing revenues from the mobile intelligent terminal (tablet PC) segment during the second half of the year. The company's third business segment, mobile applications (Vtion Anzhuo) did not record significant revenues during 2011. Nevertheless, Vtion Anzhuo made important progress in establishing its own online store as well as shop-in-shop cooperation agreements with all three of China's major telecom operators, China Telecom, China Unicom and China Mobile.

"I am proud of our company and employees for what we achieved during 2011," states Vtion CEO Guoping Chen. "Obviously this was an extremely difficult year, given the large changes we experienced in our core market, wireless data cards. Despite these obstacles, we were able to reach our guidance, due to adjustments we made in the wireless data terminal space, such as reducing costs in that segment and new growth in our tablet PC business. I would like to express my gratitude to our shareholders who endured this difficult time, I am confident that through the adjustments we made in 2011, we are again headed in the right direction for 2012 and beyond," he concludes.

For 2012, Vtion expects flat to moderate growth in the wireless data terminal segment and continued growth in the tablet PC space, driven both by consumer demand and initial sales to insurance industry clients. Furthermore, Vtion Anzhuo should make its first significant revenue contributions over the second half of the year 2012.

Vtion will release its full 2011 annual report on Thursday, April 19. Management will hold a conference call in the morning on that same day to discuss the results and field questions.

 

About Vtion

The Vtion Group is one of the three leading suppliers of wireless data cards and associated services for the mobile use of computers via broadband wireless networks in the People's Republic of China. The company also offers e-reader, 3G router and embedded module products through network operator and retail distribution channels, as well as several online services. For 2010, the company reached sales revenues of EUR 102 million. Vtion Wireless Technology AG shares are being traded in the Prime Standard on the Frankfurt Stock Exchange with the ISIN DE000CHEN993. The company's ticker symbol is V33.

 

For further information, please contact:

Kirchhoff Consult AG
Dr Kay Baden, tel.: +49 40 60 91 86 0, baden@kirchhoff.de

<< back