init innovation in traffic systems SE

  • WKN: 575980
  • ISIN: DE0005759807
  • Land: Deutschland

Nachricht vom 05.08.2021 | 07:30

init innovation in traffic systems SE​ confirms its forecast for 2021

DGAP-News: init innovation in traffic systems SE / Key word(s): Half Year Report/Half Year Results
05.08.2021 / 07:30
The issuer is solely responsible for the content of this announcement.

  • Incoming orders of over EUR 100m by the end of June (30/06/2020: EUR 87.5m)
  • Revenues of EUR 84.7m slightly above previous year (30/06/2020: EUR 81.4m)
  • EBIT increased by around 34 percent to EUR 8.3m (30/06/2020: EUR 6.2m)

init innovation in traffic systems SE (ISIN DE 0005759807) continues to be on track to achieve its targets set for 2021 despite the Coronavirus-related restrictions on the economy. This is shown in the preliminary figures for the first half of the year. As of the end of June, init recorded incoming orders of EUR 100.4m (30/06/2020: EUR 87.5m). Revenues and earnings were also up on the previous year, in particular operating earnings before interest and taxes (EBIT) rose by around 34 per cent to EUR 8.3m (30/06/2020: EUR 6.2m).

"Based on these figures, we can confirm our revenue and earnings forecast for the current year. We continue to expect sustained acceleration in our growth from 2022 onwards, as a result of advancing digitalisation and new investment programmes for public transport," the Managing Board reported. For the year as a whole, the Managing Board continues to expect consolidated revenues of around EUR 180m and operating earnings before interest and taxes (EBIT) of EUR 18 to 20m.

Second half-year expected to be stronger

In the second quarter of 2021, init generated revenues of EUR 44.2m (Q2 2020: EUR 41.1m). As a result, consolidated revenues reached EUR 84.7m at the end of June (30/06/2020: EUR 81.4m). It is important to note that the second half of the financial year is generally stronger because many transport companies' investment decisions only become effective in the second half of the year.

Compared to the previous year, EBIT improved significantly. It amounted to EUR 5.4m in the second quarter (Q2 2020: EUR 2.8m). As a result, half-year EBIT increased to EUR 8.3m (30/06/2020: EUR 6.2m).

Thanks to a major order from METRO Houston, init recorded incoming orders of around EUR 50m in Q2 2021, which is around EUR 6.5m more, compared with the previous year. Together with many successfully acquired small and medium-sized orders, incoming orders reached over EUR 100m at the half-year stage (30/06/2020: EUR 87.5m).

High value growth for shareholders

"For 2021, another year which is deeply affected by Coronavirus and which continues to present many uncertainties, this is a very good result. With high growth rates in existing markets and for newly launched products, as well as further innovations and the opening up of new markets, we still believe that sustainable growth of on average 15 per cent from 2022 onwards is achievable," reports the init Managing Board.

For init shareholders, these prospects have already paid off this year with an increase of around 26 per cent. In particular, init as an innovative technology share was able to benefit from the digitisation megatrend and once again reached an all-time high of 43.10 Euro in May 2021.

The complete half-year financial report will be available on the init website from 11 August 2021.

 

Contact:
Person making the notification:
Simone Fritz
Investor Relations
ir@initse.com


05.08.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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