DVS Technology - FY21 margins expected to exceed FY19

DVS TECHNOLOGY’s FY20 results were obviously affected by the coronavirus pandemic, with revenues declining by 26% to €194m. After an operating loss of €1.5m in the first half, the company reported positive EBIT of €4.3m for FY20, driven by the benefits of several cost measures taken in the first half, which included a reduction in staff numbers. FY21 guidance is for an 11% increase in revenues and a 180bp improvement in the EBIT margin to 3.9%. Future Mobility is becoming more important in the company’s revenue mix (37% of order intake in FY20) and we expect DVS TECHNOLOGY to benefit from the continuing market transformation towards e-mobility.