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Yahoo
a day ago
- Yahoo
VIA optronics AG Provides Strategic Update on Business Transformation
Proactive operational and cost initiatives, as well as renewed focus on diverse industrial applications, have stabilized and realigned business Company provides initial outlook for Fiscal 2024 and 2025, which includes significantly improved gross margins and EBITDA VIA is seeking a long-term investor and partner to support its future pivot to growth NUREMBERG, Germany, June 11, 2025--(BUSINESS WIRE)--VIA optronics AG (OTC: VIAOY) ("VIA" or the "Company"), a leading supplier of interactive display solutions, today announced several updates related to its business transformation initiatives, 2024 and 2025 outlook, as well as a search for a new strategic investor. This update follows the release of audited financials for fiscal 2023 and the Company plans to file its fiscal 2024 financial results shortly. Key Highlights: VIA has made significant progress executing against its proactive transformation and cost initiatives to stabilize and realign the business over the last several quarters. This includes further optimization of its efficiency and productivity programs, further reducing overhead costs, as well as developing and expanding partnerships with new customers and across new markets. The Company's global manufacturing footprint in Germany, Japan, and China provides competitive advantages to navigate the dynamic tariff situation and win new business as smaller competitors have exited numerous markets. VIA retains a strong position and reputation in the automotive market, and has significantly broadened its near-term focus on the less cyclical industrial display market, which is expected to grow at a 6.7% CAGR* through 2030 (Source: Industrial Display Market Size, Trends | Industry Report, 2030). The Company's product strengths, such as optical bonding, metal mesh touch sensors, cameras and ruggedized displays, align well with these industrial sector trends. VIA maintained a disciplined approach to cash management over the last several years and has secured credit lines in Germany, China, and Japan, ensuring financial flexibility as it advances its operational turnaround. As a result of the completion of many of the Company's transformation and cost initiatives, it expects significantly enhanced gross margin and EBITDA in fiscal 2024, with further improvement in fiscal 2025. The Company is targeting a strategic investment partner to aid in the acceleration of its growth trajectory and capitalize on emerging market opportunities. Roland Chochoiek, Chief Executive Officer of VIA Optronics, commented "Over the last year and a half, we have made significant progress stabilizing the business by optimizing our platform through numerous efficiency and productivity programs, as well as disciplined cost controls. We have also redirected our focus on diversifying the end markets we support, through strategic investments in areas of the business that support the industrial display market. We continue to see significant growth opportunities globally across these markets, and believe they offer long-term opportunities that will make our overall revenues more stable and profitable over the long term." Chochoiek added, "Our competitive position has improved in many of our markets, and our strong manufacturing footprint in Germany, Japan, and China, allows us to service dynamic growth areas where display, camera, and touch technology is critical to our customer's success. I want to thank all of our employees, partners and customers for their support through our turnaround and believe we remain well positioned to drive long-term, sustainable growth as the economic climate improves." 2024/2025 Outlook As stated in the Annual Report for FY 2023 (published on the Company´s website), VIA expects sales in 2024 to range between € 100.0 million and € 110.0 million, compared to € 133.3 million in 2023. Gross margin is expected to improve by over 8.4 percent, driven by improved product and margin mix. As a result of the restructuring measures and cost saving initiatives, 2024 EBITDA is expected to improve considerably compared to 2023. 2025 sales are expected to be in the range of € 75.0 million to € 90.0 million following the switch to a consignment stock business model with a major customer that leads to revenue decrease but margin increase. The Company also expects both gross margins and EBITDA to improve in 2025 compared to fiscal 2024. "We have right sized our business to align with our revenue opportunities, and the majority of our transformation initiatives have been completed which will support meaningful improvement in our margin profile," said Chochoiek. "Looking ahead to 2025, we will leverage a more resilient operating model with improved working capital flexibility." Strategic Investor The Company is actively seeking a new strategic investor following the decision by Integrated Micro-Electronics, a major shareholder, to divest its position as part of a broader portfolio realignment. Chochoiek concluded, "We have initiated a formal search for a new long-term strategic investor and partner to help accelerate VIA's growth trajectory and innovation while reinforcing our competitive global position. This presents an opportunity to partner with an investor who shares our long-term growth strategy and commitment to innovation and can help the Company accelerate its business development efforts and pivot to growth in the future." Forvis Mazars Advisors Germany has been appointed as Financial Advisor to support VIA in its search for a new strategic investor. 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 solutions combine customized design, interactive displays, touch 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 Company's expectations as to the timing of its delisting and deregistration process; the anticipated benefits and cost savings of such actions; and other statements that are not historical facts. 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. Other factors include the risks described under Item 3. "Opportunity and Risk Report — 5.3 Risk," in our audited Annual Report for FY 2023 published on the Company´s website (VIA optronics - Investors - Financials & Filings - Annual Reports). 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 Contacts Media Contact VIA: Alexandra Müller-PlötzPhone: +49 911 597 575-302Amueller-ploetz@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Car and Driver
2 days ago
- Car and Driver
171K Mazda 3s and CX-30s Recalled Due to Potential Airbag Fault
Mazda is recalling 171,412 cars due to an issue that may deactivate the airbags, stopping them from deploying during a crash. According to documents filed with the National Highway Traffic Safety Administration, the recall is split between 51,857 Mazda 3s and 119,555 CX-30s. Owners of affected cars will be notified and asked to bring their vehicles to a Mazda dealer to reprogram or replace the airbag sensor. Mazda issued a recall with the National Highway Traffic Safety Administration (NHTSA) that affects 171,412 cars from the 2024 and 2025 model years. The recall is split between 51,857 Mazda 3 sedans and hatchbacks and 119,555 CX-30 crossovers. According to NHTSA, the recall is due to an issue that may deactivate the airbags, keeping them from deploying during a crash. Documents associated with the recall explain that if the battery becomes completely depleted by leaving the ignition switch in the "ON" position, the Sophisticated Airbag Sensor (SAS) unit will store an internal fault. The fault won't be stored if the battery is depleted in any other way. If the battery is recharged and the vehicle turned back on after being depleted, the airbag warning light will turn on in the instrument cluster and keep the airbags from deploying. Marc Urbano | Car and Driver According to NHTSA documents, the fix is as simple as reprogramming the existing SAS unit with improved hardware or replacing the unit with a newer one. Owners of affected models will be notified by mail and instructed to bring their vehicles to a Mazda dealer to perform the fix. Mazda isn't offering a reimbursement program for the issue, as all affected vehicles should still be under full warranty coverage. The automaker has already notified dealers of the recall, and owner notification is expected to be completed by the end of July. Jack Fitzgerald Associate News Editor Jack Fitzgerald's love for cars stems from his as yet unshakable addiction to Formula 1. After a brief stint as a detailer for a local dealership group in college, he knew he needed a more permanent way to drive all the new cars he couldn't afford and decided to pursue a career in auto writing. By hounding his college professors at the University of Wisconsin-Milwaukee, he was able to travel Wisconsin seeking out stories in the auto world before landing his dream job at Car and Driver. His new goal is to delay the inevitable demise of his 2010 Volkswagen Golf. Read full bio
The Drive
2 days ago
- The Drive
You Can't Get a New Ford Bronco for Under $40K Anymore
The latest car news, reviews, and features. There are winners and losers in a new wave of Ford Bronco price adjustments. The Bronco Raptor, for example, is now $10,000 less, bringing it back down to where it was for the 2023 model year. On the other end of the spectrum is the two-door Bronco Base, which went up from $39,890 after destination to $40,990. In turn, the sub-$40,000 Bronco is gone. Entry-level Bronco pricing has flip-flopped in the last two years, first with the removal of the Base trim and then again with its reintroduction in late 2024. It's still around today, though a $1,000 MSRP increase and $100 uptick in destination fees push it above $40,000. That isn't a huge jump, especially compared to others we've seen recently, but crossing that threshold is what makes this noteworthy. And if you're about to compare that to the Bronco's roughly $30,000 starting price at launch, just remember: The world isn't the same as it was in 2020. While the COVID pandemic was still ramping up, there was no telling exactly how it would continue to affect the supply chain and the economy at large. The Bronco Base is also slightly better equipped now with a standard 12-inch digital gauge cluster and additional sound deadening. For the newly adjusted starting price of $40,990, you get a Bronco with the 2.3-liter EcoBoost turbo-four, a seven-speed manual transmission, and a 4.46 rear axle ratio. You can spec the 10-speed automatic for $1,795. There are plenty of off-road upgrades available on the Base, though effectively all of them are locked behind the $8,460 Sasquatch package. That adds a comprehensive list of improvements, from front and rear locking differentials to 35-inch tires, taller suspension, position-sensitive Bilstein shocks, a 4.70 final drive, and a more advanced 4×4 system. Meanwhile, the Bronco Raptor's new $81,990 base price narrows the gap to the core Bronco lineup. A Ford spokesperson told The Drive that this was the main motivator for the adjustment: 'With the new two-door-only Bronco Stroppe replacing the two- and four-door Wildtrak model as the top off-road package in the base Bronco lineup, we are adjusting the price of the Bronco Raptor to provide customers who prefer a four-door with another high-performance vehicle option. The pricing applies to 2025 model year Bronco Raptor customer orders and dealer inventory.' With the Wildtrak trim gone, the highest-performance four-door Bronco not named Raptor is the $53,075 Badlands. The two-door, V6-only Stroppe Edition starts at $77,630—about $4,400 less than the Raptor. Got a tip or question for the author? Contact them directly: caleb@
