15 May 2024 - Q1 2024 earnings

Increase efficiency. Ensure success.

Dr. Marco Ferber, CFO

Key facts Q1 2024

256m EUR

+31%

3.7m EUR

order intake

revenue

EBIT

7.5m EUR

2.3mEUR

Outlook

operating

Consolidated

confirmed

cash flow

net profit

2

15 May 2024

Order intake

(EURm)

FY/23: EUR 225m

256.1

69.5

76.3

40.9

38.3

Q1/23 Q2/23 Q3/2023 Q4/2023 Q1/2024

Order

195

184

166

175

384

backlog

256.1m EUR

order intake

YTD 31 Mar 2024 (PY: 69.5m EUR)

  • Continued strong demand for optical components
  • MARTA and TfL: megaprojects signed in Q1

3

15 May 2024

Revenue development

(EUR m)

FY/23: EUR 211m

+31.0%

67.8

51.1

53.4

50.5

38.5

Thereof

Q1/23

Q2/23

Q3/23

Q4/24

Q1/23

31%

34%

37%

35%

37%

Germany

North America

37%

32%

34%

31%

33%

50.5m EUR

revenue

YTD 30 Mar 2024 (PY: 38.5m EUR)

  • Increase in core market of Germany and rest of Europe
  • Q1 2023 strong, seasonality in 2024 expected to be less pronounced

4

15 May 2024

EBIT(DA)

(EUR m)

FY/23: EUR 32.3 (EBITDA) / 21.0m (EBIT)

3.7m EUR

16.7

EBIT

2.8

YTD 31 Mar 2024 (PY: ‐0.9m EUR)

8.4

•

Significant improvement

6.6

compared to previous

5.3

2.9

13.9

year as a result of

3.0

Depr.

1.9

2.7

revenue growth

5.5

3.7

•

Less seasonality

2.8

2.6

8,0%

EBIT

‐0.9

expected in line with

Q1/23

Q2/23

Q3/23

Q4/23

Q1/24

revenue

EBITDA margin

4.8

10.4

15.7

24.7

13.2

EBIT margin

‐2.4

5.0

10.3

20.5

7.3

5

15 May 2024

Balance sheet

(EURm)

Assets

Liabilities and Equity

247

260

277

247

260

277

39

27

Cash & equivalents

39

124

115

121

Equity

(45%)

113

117

(47%)

(46%)

(47%)

Non‐current assets

108

Non‐current liabilities

53

62

63

Current assets

100

121

121

Current liabilities

79

78

90

31 Mar 2023 31 Dec 2023 31 Mar 2024

31 Mar 2023 31 Dec 2023 31 Mar 2024

  • Q1 increase in current assets, mainly resulting from higher contract assets (29) following jump in revenues and higher inventory levels (54), especially compared to Q1/2023 (15 and 45, respectively)
  • Long‐term assets only with limited change to 31 December 2023, mainly from capitalisation of software developments and new lease assets considered

6

  • Current liabilities in Q1 increased to finance project‐related increase in contract assets and inventory
  • Little change in non‐current liabilities within Q1/2024, increase vs. 31 March 2023 due to addition of long‐term loans in May 2023

15 May 2024

Operating cash flow

(EUR m)

11.9

7.5

3.62.9

‐10.5

Q1/23

Q2/23

Q3/23

Q4/23

Q1/24

Net capex

‐2.5

‐1.9

‐2.1

‐5.9

‐2.6

7.5m EUR

OCF

YTD 31 Mar 2024 (PY: 3.6m EUR)

  • Previous year's figure more than doubled, mainly due to increased consolidated net income
  • CAPEX rate at previous year's level

7

15 May 2024

Outlook FY 2024

Order intake Q1 2024 above total annual

value of the previous years

Revenue growth Q1 at

30% supporting FY outlook

Solid EBIT performance ytd

Annual guidance fully confirmed

EUR 24‐28m

EBIT 2024e

EUR 240‐260m

Revenue 2024e

EUR 384m

Order backlog 31 March 2024

8

15 May 2024

Thank you for your interest

Dr. Marco Ferber, CFO

Disclaimer

Decimal places, especially for percentages, may be subject to rounding differences.

This presentation contains future‐related statements, which are based on current estimates of company with regard to future developments. Such statements are inherently subject to risks and uncertainties, as they may be affected by factors that are neither controllable nor foreseeable by init, such as on the development of the future market environment and economic conditions, the behaviour of other market participants and government measures.

If one of these uncontrollable or unforeseeable factors occurs respectively changes or the assumptions on which these statements are based prove inaccurate, actual developments and results could differ materially from the results cited explicitly or contained implicitly in these statements.

Financial Calendar 2024

15 May 2024

Quarterly Statement Q1/2024

6 June 2024

AGM face‐to‐face

13 August 2024

Half‐year Financial Report 2024

13 November 2024

Quarterly Statement Q3/2024

IR‐contact

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ir@initse.com

www.initse.com

2024 © Copyright init ‐ This document contains proprietary information and must be treated confidentially.

15 May 2024

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Init - Innovation In Traffic Systems SE published this content on 15 May 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 May 2024 04:25:02 UTC.