Zug, May 23, 2022 Despite persistently high demand, bottlenecks in the supply chains and continued increases in procurement costs will impact sales and the operating result of the V-Zug Group in the first half of 2022. Thanks to the renewed product portfolio, improved price quality, high order backlog, increases in efficiency due to investments in production and the very positive progressing market penetration in the international markets, the V-ZUG Group is optimistic that it will achieve the medium-term goals it has communicated as soon as the situation in the procurement markets has stabilised .
From the end of March 2022, the situation in the supply chains unexpectedly deteriorated significantly, also in connection with the strict Covid-19 lockdown in the greater Shanghai area. There are challenges and disruptions in practically all purchasing material groups, but especially in the availability of electronic components and above all in microchips. As a result, this leads to some delays in delivery for the V-ZUG Group and to further increases in procurement costs, which have a negative impact on the turnover and operating result of the V-ZUG Group.
Against this background, the operating result in the area of the EBIT margin of the past 2nd half of 2021 that was announced when the annual results for 2021 were published on March 15, 2022 for the 1st half of 2022 cannot be achieved. Due to the uncertain time horizon regarding a normalization in the supply chains, the V-ZUG Group is not providing an outlook for the entire 2022 financial year at this time.
The V-ZUG Group is well positioned and confident of mastering these challenges and maintaining production and delivery capabilities. Thanks to an extraordinarily high order backlog, an attractive product portfolio, increases in efficiency due to investments in production, sales price adjustments and the continued very positive market penetration in the international markets, the V-ZUG Group expects to return to the area of the communicated goals in the medium term as soon as the situation in the procurement markets has stabilized.
About the V-ZUG Group
«We bring lightness into your home and creativity into your kitchen.»
VZUG is the leading Swiss brand for household appliances and also markets its products in selected premium markets abroad. For more than 100 years, V-ZUG has been developing and producing appliances for kitchens and washrooms in Switzerland and offers a comprehensive service in all of its markets. SIBIRGroup AG, which focuses on providing all-brand service and trading in household appliances throughout Switzerland, is another part of the V-ZUG Group. The V-ZUG Group currently employs around 2,200 people.
The holding company V-ZUG Holding AG is listed in the Swiss Reporting Standard of the SIX Swiss Exchange, Zurich, and represented in the Swiss Performance Index (SPI) (securities number 54 248 374, ISIN CH0542483745, ticker symbol VZUG).
Important data
| July 22, 2022 | Publication of the half-year report |
| March 15, 2023 | Publication Annual Report |
| April 25, 2023 | Ordinary General Assembly |
additional Information
Adrian Ineichen
CFO
Telephone: + 41 58 767 60 03
Patrick Leisi
Head Legal & Compliance / Investor Relations
Telephone: + 41 58 767 60 03
This ad hoc/media release is available at www.vzug.com/ch/de/investor-relations-news.
Legal Notes
The expectations expressed in this ad hoc/media release are based on assumptions. Actual results may differ from these assumptions. This ad hoc/media release is published in German and English. The German version is binding. VZUG Holding AG processes personal data in compliance with its data protection declaration, available at www.vzug.com/ch/de/privacystatement.