init innovation in traffic systems SE

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

Nachricht vom 25.03.2021 | 11:53

init innovation in traffic systems SE: Digitalisation specialist presents successful result for corona year 2020

DGAP-News: init innovation in traffic systems SE / Key word(s): Annual Report/Dividend
25.03.2021 / 11:53
The issuer is solely responsible for the content of this announcement.

init increases consolidated net profit by 32 per cent 
  • The Managing Board proposes to raise dividend to EUR 0.55 (previous year EUR 0.40)
  • Digitalisation in public transport is driving growth
  • Innovations open up new areas of application


init innovation in traffic systems SE (ISIN DE 0005759807) once again presented a successful result at today's annual press and analyst conference. Despite the coronavirus adversities encountered in 2020, the leading international digitalisation specialist for public transport comfortably accomplished its growth targets for revenues and earnings, and in some cases set new records. Particularly gratifying for init shareholders: earnings per share improved from EUR 1.13 to EUR 1.50. This was due to the 32 per cent increase in consolidated net profit to EUR 14.9m. The init share gained a total of 46 per cent in value in 2020. Just recently, the share price reached a historical high of EUR 41.20.

In addition, the higher dividend is intended to allow shareholders to share in the company's success. The Managing Board and the Supervisory Board propose to the Annual General Meeting to raise the dividend to EUR 0.55 (previous year: EUR 0.40).

The Managing Board considered it particularly pleasing that even in the corona crisis year, the company succeeded in increasing revenues by more than 15 per cent to a new record of EUR 180.7m (previous year: EUR 156.5m), thus meeting its long-term growth target. The increase in operating earnings (EBIT) of around 21 per cent to EUR 19.6m (previous year: EUR 16.2m) was even stronger. The EBIT margin thus rose further to 10.9 per cent (previous year: 10.4 per cent).

"We are extremely satisfied with these results, especially considering that our customers, the public transport companies, were hit hard by the lockdowns, at times sustaining a massive drop in passenger numbers and thus their revenues. The init family was also affected by the restrictions. However, compared with other companies, we were able to continue working efficiently. Our employees demonstrated exemplary commitment and great determination, and we mastered many new challenges. We also thanked them by paying a bonus", sums up the init Managing Board.

2021 will continue to be a year of transition due to the repercussions of the coronavirus crisis on the awarding of contracts by public transport companies. Incoming orders in the past year reflected this phenomenon. Due primarily to the coronavirus-related postponements of contracts originally planned for 2020, incoming orders of EUR 154.6m as of the reporting date were below the previous-year figure (EUR 160.2m). The postponed projects are, however, expected to be recorded as incoming orders in the first six months of 2021.

Overall, in its current outlook the Managing Board even expects a sustainable improvement in growth prospects because the coronavirus crisis has given digitalisation in public transport an extra boost. init's digital innovations support the public transport companies in numerous ways. This applies to smart ticketing solutions for which we are the market leader in Germany and the US with high growth rates, as well as for MOBILEguide, which is found both online as well as on railway platforms and can be used to ease passenger flows and to make optimum use of available seating. Furthermore, MOBILE-ITCS nextGen, a next generation innovative control system, uses artificial intelligence to increase efficiency in transport operations and enhance the travel experience for passengers.

New areas of application and customer groups

The Managing Board also sees major market opportunities for a modular, web-based and scalable control system, an ITCS smart (Intermodal Transport Control System), which is tailored in particular to the needs of private fleet operators. "What makes it special is that whilst maintaining sophisticated functionality, it offers public transport companies the advantage of lower investment costs for a standard version. The customer has the option to rent or lease the solution over a longer period, which allows us to reach new customer groups and secure a predictable source of revenue in the long term", says Chief Sales Officer Dr. Jürgen Greschner. We also expect new opportunities in the rail sector for our MOBILE-ITCSrail solution that has been designed specifically for rail systems. The first customer will put this system already into operation in 2021.

Moreover, as governments worldwide continue to push for the green transformation of the transport sector, the demand for digital solutions increases, for example in the development of electromobility or connecting mobility services in a single platform (Mobility as a Service, or MaaS). "Promising tenders and contracts can be expected in all these fields from which we in turn hope to generate further growth. Based on a cautious business plan, which also takes into account coronavirus-related setbacks, we are forecasting stable growth for the current year. However, from 2022 onwards it should be possible to again reach our continuous average annual growth target of 15 per cent", forecasts the init Managing Board.

The full annual report 2020 of init innovation in traffic systems SE is available at: https://www.initse.com/ende/investors/financial-reports/.

 


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


25.03.2021 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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