Packaging business execution delays
Vshapes machine shipments have been delayed due to technical issues; only one machine shipped in Q3. Further delays could prolong losses and delay breakeven.
CONTROLPR / bear-case history
Track the concerns that keep returning.
Control Print · risk themes across the available quarters.
Research layer active
Bear-case history
Risks carried through the record.
high
Employee cost inflation
Employee costs rose 28% YoY due to labor code provisions and incentive accruals. If not reversed, margins could remain under pressure.
Laser printer competition
Laser printers pose a gradual threat to consumable revenue, though management argues safety and material limitations restrict adoption. Chinese competitors may ignore safety norms.
Track & trace contract finalization delays
Two large pharma track & trace contracts are in legal negotiation; delays could push revenue recognition and market share gains.