# EDGAR Filing Document

**Accession Number:** 0001769116
**File Stem:** 0001558370-23-004769
**Filing Date:** 2023-3
**Character Count:** 22417
**Document Hash:** 34d444eb1c914a3c6898e467768e4f64
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001558370-23-004769.hdr.sgml**: 20230328

**ACCESSION NUMBER**: 0001558370-23-004769

**CONFORMED SUBMISSION TYPE**: 6-K

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20230328

**FILED AS OF DATE**: 20230328

**DATE AS OF CHANGE**: 20230328

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** VIA optronics AG
- **CENTRAL INDEX KEY:** 0001769116
- **STANDARD INDUSTRIAL CLASSIFICATION:** SEMICONDUCTORS & RELATED DEVICES [3674]
- **IRS NUMBER:** 000000000

**FILING VALUES:**
- **FORM TYPE:** 6-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-39543
- **FILM NUMBER:** 23766354

**BUSINESS ADDRESS:**
- **STREET 1:** SIEBOLDSTR. 18
- **CITY:** NUREMBERG
- **STATE:** 2M
- **ZIP:** D-90411
- **BUSINESS PHONE:** 49 911 597 575-0

**MAIL ADDRESS:**
- **STREET 1:** SIEBOLDSTR. 18
- **CITY:** NUREMBERG
- **STATE:** 2M
- **ZIP:** D-90411

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 6-K**

**Report of Foreign Private Issuer**

**Pursuant to Rule 13a-16 or 15d-16 of**

**the Securities Exchange Act of 1934**

**For the Month of March 2023**

**Commission File Number: 001-39543**

**VIA optronics AG**

(Translation of registrant's name into English)

**Address**

**Sieboldstrasse 18**

**90411 Nuremberg**

**Germany**

(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:

Form 20-F ⌧&nbsp;&nbsp;&nbsp;&nbsp; Form 40-F ◻

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As previously announced, on March 28, 2023, VIA optronics AG will hold a conference call to report its preliminary unaudited financial results for the quarter ended December 31, 2022, and full year 2022. A copy of the related press release is furnished as Exhibit 99.1 hereto.

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**EXHIBITS**

<u>Exhibit No.</u> &nbsp;&nbsp;&nbsp;&nbsp; <u>Description</u> <br> 99.1 [Press Release: VIA optronics Reports Preliminary Unaudited Fourth Quarter and Full Year 2022 Financial Results](tmb-20230328xex99d1.htm)

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**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

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| | | |
|:---|:---|:---|
|  | **VIA optronics** | **VIA optronics** |
| Date: March 28, 2023 | By: | /s/ Jürgen Eichner |
|  | Name: | Jürgen Eichner |
|  | Title: | Chief Executive Officer |

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## Exhibit 99.1

**Exhibit 99.1**

**VIA optronics AG Reports Preliminary Unaudited Fourth Quarter and Full Year 2022 Financial Results**

*Annual revenue rose 20.9% year-over-year*

**Nuremberg, Germany: March 28, 2023** - VIA optronics AG (NYSE: VIAO) ("VIA" or the "Company"), a leading supplier of interactive display systems and solutions, today announced preliminary unaudited financial results for the fourth quarter ended December 31, 2022.

**Fourth Quarter 2022 Highlights** (Compared with prior-year period, where comparisons are noted**)**

● Total revenue of €54.9 million increased by 18.6% driven by growth in the Display Solutions segment

● Gross profit margin increased to 16.6% from 13.7%

● Operating loss was €(4.4) million, compared to operating loss of €(7.7) million

● Loss after taxes from continuing operations (attributable to VIA optronics AG shareholders) was €(6.0) million or €(1.31) per share, compared to loss after taxes from continuing operations (attributable to VIA optronics AG shareholders) of €(8.0) million or €(1.77) per share

● Total EBITDA loss was €(2.7) million compared to EBITDA loss of €(6.1) million

**Full Year 2022 Highlights** (Compared with prior-year period, where comparisons are noted**)**

● Total revenue of €218.5 million increased by 20.9% driven by growth in the Display Solutions segment

● Gross profit margin decreased to 10.3% from 11.3%

● Operating loss was €(6.7) million, compared to operating loss of €(9.5) million

● Loss after taxes from continuing operations (attributable to VIA optronics AG shareholders) was €(9.9) million or €(2.17) per share compared to loss after taxes from continuing operations (attributable to VIA optronics AG shareholders) of €(11.8) million or €(2.59) per share

● Total EBITDA loss was €(0.2) million compared to EBITDA loss of €(3.4) million

The production performance at VIA´s Nuremberg facility was addressed successfully and the current facility output is beyond plan. Moreover, VIA is intensely exploring opportunities to extend its solutions for car interiors with interactive display and touch functionality with industrial partners. Furthermore, the Company kicked off the implementation of its first shared services activities in the Philippines.

"We are pleased to report strong quarterly and annual revenue growth, closing out an important year in which we consolidated and strengthened the organization. This growth was supported by the expansion of our Nuremberg facility and completion of our production ramp up," said Jürgen Eichner, CEO & Founder of VIA. "For the full year 2022, the Company executed well despite the impact of external factors like inflation, supply chain challenges and higher logistics and freight costs on the Company´s operational results. The implemented margin improvements and cost savings measures have set us up for additional improvement as we progress towards margin expansion in 2023."

**Fourth Quarter 2022 Financial Summary**

Total revenue of €54.9 million increased 18.6% from €46.3 million in the fourth quarter of 2021. The increase was driven by growth in the Company's Display Solutions segment, driven primarily by growth in the automotive end market. Revenue in the Sensor Technologies segment decreased compared to the fourth quarter of 2021 due to ongoing lower demand in the consumer end market after record turnover in the prior year.

Gross profit margin increased to 16.6% from 13.7% in the fourth quarter of 2021. Gross profit margin in the Display Solutions segment increased compared to the fourth quarter of 2021, despite ongoing margin pressure linked to increases in material costs, inflation and logistical costs. Gross profit margin in the Sensor Technologies segment decreased due to lower post-pandemic demand and consequently lower utilization.

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Research and development expenses increased compared to the fourth quarter of 2021, as the Company invested in its future strategy. Selling expenses decreased and general and administrative expenses decreased as well compared to the fourth quarter of 2021 due to further improvements in the administrative cost structure.

Operating loss was €(4.4) million, compared to operating loss of €(7.7) million in the fourth quarter of 2021. Loss after taxes from continuing operations (attributable to VIA optronics AG shareholders) was €(6.0) million, or loss of €(1.31) per basic and diluted share, compared to Loss after taxes from continuing operations (attributable to VIA optronics AG shareholders) of €(8.0) million, or loss of €(1.77) per basic and diluted share, in the fourth quarter of 2021.

Total EBITDA was €(2.7) million compared to EBITDA of €(6.1) million in the fourth quarter of 2021. EBITDA in the Display Solutions segment increased compared to the fourth quarter of 2021, driven by improved operational performance and certain non-recurring events, including some prior customer related reserve adjustments. EBITDA in the Sensor Technologies segment decreased compared to the fourth quarter of 2021 and EBITDA in Other Segments decreased compared to the fourth quarter of 2021, driven by the non-recurring events described above.

**Year End 2022 Financial Summary**

Total revenue of €218.5 million increased by 20.9% from €180.8 million in 2021. The increase was driven by increased revenue in the Company's Display Solutions segment, supported by favorable foreign exchange rate effects, among other factors. Revenue in the Display Solutions segment increased compared to 2021, driven primarily by growth in the automotive end market. Revenue in the Sensor Technologies segment decreased compared to 2021, due to ongoing lower demand in the consumer end market after record turnover in the prior year.

Gross profit margin decreased to 10.3% from 11.3% in 2021. Gross profit margin in the Display Solutions segment slightly increased compared to 2021, despite ongoing margin pressure, due to increases in material costs, inflation and logistical costs. Gross profit margin in the Sensor Technologies segment decreased compared to 2021, due to lower post-pandemic demand and consequently lower utilization.

Research and development expenses increased, due to increased investment to support the Company's future strategy to expand into integrated display solutions. Moreover, Germaneers GmbH was fully incorporated into 2022 results. Selling expenses decreased and general and administrative expenses decreased due to improved cost discipline in the administrative functions and reduced personnel costs.

Operating loss was €(6.7) million, compared to operating loss of €(9.5) million in 2021. Loss after taxes from continuing operations (attributable to VIA optronics AG shareholders) was €(9.9) million, or loss of €(2.17) per basic and diluted share, compared to Loss after taxes from continuing operations (attributable to VIA optronics AG shareholders) of €(11.8) million, or loss of €(2.59) per basic and diluted share in 2021.

Total EBITDA was €(0.2) million compared to total EBITDA of €(3.4) million in 2021. EBITDA in the Display Solutions segment increased compared to 2021, driven by improved operational performance and certain non-recurring events including some prior customer related reserve adjustments. EBITDA in the Sensor Technologies segment decreased compared to 2021. EBITDA in Other Segments decreased compared to 2021.

Cash and cash equivalents as well as other short-term deposits were €52.4 million as of December 31, 2022 which will support the Company's strategic growth initiatives.

The Company completed the goodwill impairment test triggered in the second quarter of 2022. The reporting units had a fair value in excess of the carrying value. As a result of the test, no impairment for goodwill was recorded for the second quarter and third quarter of 2022. If actual results are not consistent with our estimates or assumptions, or there are significant changes in any of these estimates, projections and assumptions, then this could have a material effect on the fair value of these assets in future measurement periods and result in an impairment, which could materially affect our results of operations.

The audit of financial statements is still ongoing. Final audited group financial statements will be made available within the required 20 F filing period.

**Outlook**

For the first quarter of 2023, VIA expects to achieve total revenue of between €40 million to €45 million. For the full year 2023, the Company expects revenue to be around the 2022 level, as we experience increased volatility in customer demand. The Company is increasingly focusing on profit over revenue growth and is adjusting its portfolio accordingly.

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VIA will focus on the most promising car models and applications, and at the same time intensify its diversification into industrial applications.

Dr. Markus Peters, CFO of VIA optronics, commented, "We successfully followed our revenue growth path in 2022. Moreover, strong top-line growth supports our fixed cost structure and going forward we will increasingly focus on margin improvements. Moreover, we will focus on net working capital (NWC) management while the total NWC may fluctuate over the quarters."

**Conference Call**

VIA will host a conference call to discuss its results and will provide a corporate update at 2:30 p.m. Central European Time / 8:30 a.m. Eastern Time today, March 28, 2023.

The dial-in numbers for the call are +1-646-664-1960 (USA), +49-32-2210983344 (Germany), +44-20-3936-2999 (United Kingdom), or +44 20-3936-2999 (Other). The access code for the call is 835510. Please ask to be connected to the VIA optronics AG call when prompted by the operator.

The live webcast of the call, along with the Company's earnings press release, can be accessed through the VIA Investor Relations website at https://investors.via-optronics.com. Following the conference call, an archived version of the webcast will also be available on the Investor Relations section of the Company's website shortly after the live call ends.

Investor Relations website.

**About VIA**

VIA is a leading provider of enhanced 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 as well as 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, and optical bonding and metal mesh touch sensor and camera module technologies provide enhanced display solutions that are built to meet the specific needs of its customers.

**Non-IFRS Financial Measures**

Our management and supervisory boards utilize both IFRS and non-IFRS measures in a number of ways, including to facilitate the determination of our allocation of resources, to measure our performance against budgeted and forecasted financial plans and to establish and measure a portion of management's compensation.

The non-IFRS measures used by our management and supervisory boards include:

EBITDA, which we define as net profit (loss) calculated in accordance with IFRS before interest, taxes, depreciation and amortization.

Our management and supervisory boards believe these non-IFRS measures are helpful tools in understanding certain aspects of our financial performance and are important supplemental measures of operating performance because they eliminate items that may have less bearing on our operating performance and highlight trends that may not otherwise be apparent when relying solely on IFRS financial measures. We also believe that these non-IFRS measures are useful to investors and other users of our financial statements in evaluating our performance because these measures are the same measures used by our management and supervisory boards for these purposes.

**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 expected trading commencement and closing dates. 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

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or implied by the forward-looking statement,, including, without limitation, the risks described under Item 3. "Key Information—D. Risk Factors," in our Annual Report on Form 20-F as filed with the US Securities and Exchange Commission. 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. Due to rounding, it is possible that individual figures in this and other documents do not add up precisely to the totals shown and that percentages presented do not accurately reflect the absolute values to which they relate.

**Investor Relations**<br>Sam Cohen or Lisa Fortuna<br>Alpha IR Group<br>Phone: +1 312-445-2870<br>VIAO@alpha-ir.com

**Media Contact**<br>Alexandra Müller-Plötz<br>Phone: +49 911 597 575-302<br>Amueller-ploetz@via-optronics.com

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**VIA optronics AG**

**Consolidated Statement of Financial Position**

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| | | |
|:---|:---|:---|
| | **December 31,**  | **December 31,**  |
| <br>**Millions of EUR** | **2022 unaudited** | **2021** |
| **Assets** |  |  |
| **Non-current assets** | **25.9** | **27.8** |
| &nbsp;&nbsp;Intangible assets | 3.0 | 4.2 |
| &nbsp;&nbsp;Property and equipment | 20.9 | 21.5 |
| &nbsp;&nbsp;Other financial assets | 1.3 | 1.1 |
| &nbsp;&nbsp;Deferred tax assets | 0.7 | 1.0 |
| **Current assets** | **110.4** | **133.9** |
| &nbsp;&nbsp;Inventories | 22.1 | 35.9 |
| &nbsp;&nbsp;Trade accounts receivables | 22.6 | 31.1 |
| &nbsp;&nbsp;Current tax assets | 1.0 | 0.6 |
| &nbsp;&nbsp;Other financial assets | 8.0 |  |
| &nbsp;&nbsp;Other non-financial assets | 12.3 | 8.3 |
| &nbsp;&nbsp;Cash and cash equivalents | 44.4 | 58.0 |
| **Total assets** | **136.3** | **161.7** |
| **Equity and liabilities** |  |  |
| **Equity attributable to equity holders of the parent** | **53.0** | **65.0** |
| &nbsp;&nbsp;Share capital | 4.5 | 4.5 |
| &nbsp;&nbsp;Subscribed capital |  |  |
| &nbsp;&nbsp;Capital reserve | 88.5 | 88.5 |
| &nbsp;&nbsp;(Accumulated Deficit) / Retained earnings | (36.6) | (26.8) |
| &nbsp;&nbsp;Currency translation reserve | (3.4) | (1.2) |
| **Non-controlling interests** | **0.1** | **0.5** |
| **Total Equity** | **53.1** | **65.5** |
| **Non-current liabilities** | **7.0** | **8.8** |
| Loans | 1.1 | 0.7 |
| Provisions | 0.1 | 0.1 |
| Lease liabilities | 5.6 | 8.0 |
| Other liabilities | 0.2 |  |
| **Current liabilities** | **76.2** | **87.4** |
| Loans | 29.4 | 34.6 |
| Trade accounts payable | 27.1 | 33.4 |
| Current tax liabilities | 0.3 | 1.4 |
| Provisions | 1.0 | 1.1 |
| Lease liabilities | 2.3 | 2.0 |
| Other financial liabilities | 6.9 | 7.3 |
| Other non-financial liabilities | 9.2 | 7.6 |
| **Total equity and liabilities** | **136.3** | **161.7** |

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**VIA optronics AG**

**Consolidated Statements of Operations Data including EBITDA Reconciliation**

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| | | | | |
|:---|:---|:---|:---|:---|
| | **Three Months Ended**  | **Three Months Ended**  | **Year ended** | **Year ended** |
| | **December 31,**  | **December 31,**  | **December 31,**  | **December 31,**  |
| <br>**Millions of EUR** | **2022 unaudited** | **2021 unaudited** | **2022 unaudited** | **2021** |
| Revenue | 54.9 | 46.3 | 218.5 | 180.8 |
| Cost of sales | (45.8) | (43.5) | (196.0) | (160.3) |
| **Gross profit** | 9.1 | 2.8 | 22.5 | 20.5 |
| **Operating (loss)/income** | **(4.4)** | **(7.7)** | **(6.7)** | **(9.5)** |
| Financial result | (0.3) |  | (1.5) | (0.8) |
| **(Loss)/Profit before tax** | **(4.7)** | **(7.7)** | **(8.2)** | **(10.3)** |
| Income tax expenses | (1.6) | (0.1) | (2.0) | (1.2) |
| **Net (loss)/profit** | **(6.3)** | **(7.8)** | **(10.2)** | **(11.5)** |
|  | **Three Months Ended**  | **Three Months Ended**  | **Year ended** | **Year ended** |
|  | **December 31,**  | **December 31,**  | **December 31,**  | **December 31,**  |
| **Millions of EUR** | **2022 unaudited** | **2021 unaudited** | **2022 unaudited** | **2021** |
| **Net (loss)/profit** | (6.3) | (7.8) | (10.2) | (11.5) |
| Adjustments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest result | 0.3 | 0.4 | 1.5 | 1.2 |
| Fair value (gains) / losses on non-current financial assets at fair value through profit or loss\* |  | (0.4) |  | (0.4) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Income tax expenses | 1.6 | 0.1 | 2.0 | 1.2 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Depreciation | 1.7 | 1.6 | 6.5 | 6.1 |
| **EBITDA** | **(2.7)** | **(6.1)** | **(0.2)** | **(3.4)** |

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\* Fair value (gains) / losses on non-current financial assets at fair value through profit or loss are excluded from the EBITDA calculation according to SEC guidance.

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**VIA optronics AG**

**Earnings Per Share**

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| | | | | |
|:---|:---|:---|:---|:---|
| <br>**Millions of EUR (exept per share data)**  | **Three**<br>**Months**<br>**Ended**<br>**December 31,** <br>**2022 unaudited** | **Three**<br>**Months**<br>**Ended**<br>**December 31,** <br>**2021 unaudited** | **Twelve**<br>**Months**<br>**Ended**<br>**December 31,** <br>**2022 unaudited** | **Twelve**<br>**Months**<br>**Ended**<br>**December 31,** <br>**2021** |
| Income/(loss) after taxes from continuing operations (attributable to VIA optronics AG shareholders) | (6.0) | (8.0) | (99) | (118) |
| Weighted average of shares outstanding | 4530701 | 4530701 | 4530701 | 4530701 |
| **Earnings/(loss) per share in EUR (basic and diluted)** | **(1.31)** | **(1.77)** | **(2.17)** | **(2.59)** |

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