- VIA Optronics ( NYSE: VIAO ) on Thursday announced cost saving and pricing initiatives amid inflationary pressures to drive margin improvement in H2 of 2022 and beyond.
- VIAO will implement further price hikes starting in Jul. to account for inflationary pressures related to labor, energy, transportation and materials.
- The firm plans to consolidate suppliers to optimize costs.
- VIAO will also improve production efficiencies by initiating improved cost structure due to full operating capacity at its Nuremberg, Germany facility.
- "We are targeting breakeven net profit on a run-rate basis as we exit 2022... we believe these initiatives will help restore our historical margin profile and position VIAO for long-term sustainable profitability," said CEO Jürgen Eichner.
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VIA Optronics announces cost saving initiatives to drive margin improvement in H2