Despite the effect of lockdowns on the hospitality industry in FY20, Vectron reported 10% revenue growth. After a dip in Q220, revenue rebounded as customers sought to meet German point-of-sale (POS) system security regulations. Recurring revenue, while still low, is growing as customers adopt Vectron’s digital services. The combination of gradual lockdown relaxations and the ongoing regulatory-driven replacement cycle is expected to drive strong growth in revenue and profitability for FY21/22.
