VIA optronics AG (NYSE: VIAO) (“VIA” or the “Company”), a leading supplier of interactive display systems and solutions, today announced a series of cost containment and pricing initiatives designed to combat inflationary pressures and drive margin improvement in the second half of 2022 and beyond.
VIA is taking actions in the following areas:
- Pricing: Further implementation of broad price increases to account for inflationary pressures related to labor, energy, transportation, and materials, starting in July 2022
- Supply Chain: Consolidation of suppliers to optimize costs and achieve efficiencies of scale
- Production Efficiencies: Initiation of improved cost structure due to full operating capacity at Nuremberg, Germany facility
Jürgen Eichner, Chief Executive Officer and Founder of VIA optronics AG, commented, “We are taking enterprise-wide actions to mitigate the impact of higher costs related to the inflationary environment and global supply chain challenges. These actions include both internal initiatives such as improving production efficiencies and streamlining resources, as well as measures related to customer pricing and supplier agreements. We are targeting breakeven net profit on a run-rate basis as we exit 2022. Overall, we believe these initiatives will help us restore our historical margin profile and position the Company for long-term sustainable profitability.”
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
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