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init innovation in traffic systems SE: Digitisation specialist init hits growth targets despite the coronavirus crisis year 2020

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DGAP-News: init innovation in traffic systems SE / Key word(s): Preliminary Results/Annual Results
05.03.2021 / 12:46
The issuer is solely responsible for the content of this announcement.

Based on preliminary figures:

Even in 2020, a year hit by the coronavirus crisis, init innovation in traffic systems SE (ISIN DE0005759807) has achieved its growth targets for revenues and earnings. According to the preliminary figures that are now available, revenues of the digitisation specialist for public transport increased by more than 15 per cent in the past financial year to around EUR 181m (2019: EUR 156.5m). The increase in init's operating earnings before interest and taxes (EBIT) was even stronger, rising by around 20 per cent to well over EUR 19m (previous year: EUR 16.2m) and was thus at the upper end of the target range.

"We are very satisfied with this result, especially considering that our customers, the transport companies, were hit hard by the lockdown caused by the coronavirus pandemic, sustaining a major loss of revenues. On the other hand, we registered an increase in demand, especially for our new digital products to manage the impact of the coronavirus in public transport", states the Managing Board in its initial assessment of the past financial year.

Primarily due to the coronavirus-related postponements of awarding of contracts planned for 2020, incoming orders at over EUR 154m as of the reporting date were below the previous-year figure (EUR 160.2m). However, the postponed projects are expected to be recognised in the first half of the year.

Although 2021 will again be a year of transition due to the effects of the coronavirus crisis, the init Managing Board considers that the sustainable growth trends are still intact. Governments worldwide continue to push for the green transformation of the transport sector, leading to rising demand for digital solutions, for example for promoting electromobility and networking of mobility services on a single platform (Mobility as a Service, MaaS).

As the international leading provider of integrated solutions for planning, dispatching, telematics and ticketing for buses and trains, init is increasingly transforming from a technology service provider to a service partner of transport companies, also taking over their operational tasks of the delivered systems. "This segment is growing very strongly and secures long-term orders with higher customer loyalty", says the init Managing Board.

The Managing Board will present the complete annual report and the forecast for the 2021 financial year on 25 March 2021 at the virtual press and analyst conference.

 

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


05.03.2021 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.
Archive at www.dgap.de

Language:

English

Company:

init innovation in traffic systems SE

Käppelestraße 4-10

76131 Karlsruhe

Germany

Phone:

+49 (0)721 6100 0

Fax:

+49 (0)721 6100 399

E-mail:

ir@initse.com

Internet:

www.initse.com

ISIN:

DE0005759807

WKN:

575980

Listed:

Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange

EQS News ID:

1173529


 

End of News

DGAP News Service

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