InTiCa : 2022 Quarterly Report 2

2022

INTERIM REPORT H1

2 InTiCa Systems AG Interim Report H1 2022

H1 2022 in figures

The Group

Q2 2021	Q2 2022	H1 2021	H1 2022	Change
EUR ´000	EUR ´000	EUR ´000	EUR ´000	vs. H1 2021

Sales	24,958	21,774	53,716	48,698	-9.3%
Net margin (net result for the period)	2.3%	1.0%	2.9%	1.8%	-
EBITDA	2,482	1,959	5,239	4,456	-14.9%
EBIT	1,007	438	2,346	1,457	-37.9%
EBT	879	300	2,099	1,199	-42.9%
Net result for the period	577	212	1,563	861	-44.9%
Earnings per share (diluted/basic in EUR)	0.13	0.05	0.36	0.20	-44.9%
Total cash flow	-885	999	-2,615	-2,145	-
Net cash flow for operating activities	750	516	766	247	-67.8%
Capital expenditure	774	1,552	1,675	3,253	+94.2%

	Jun 30,	Dec 31,	Jun 30,	Change
	2021	2021	2022	vs. Dec 31,
	EUR ´000	EUR ´000	EUR ´000	2021
Total assets	60,570	58.420	64,133	+9.8%
Equity	19,037	19,660	20,774	+5.7%
Equity ratio	31.4%	33.7%	32.4%	-
Number of employees incl. agency staff	902	744	807	+8.5%

The Stock	H1 2021	2021	H1 2022
Closing price (in EUR)	13.90	12.20	9.80
Period high (in EUR)	22.00	22.00	12.70
Period low (in EUR)	8.50	8.50	9.70
Market capitalisation at end of period (in EUR million)	59.6	52.3	42.0
Number of shares	4,287,000	4,287,000	4,287,000

The stock prices are closing prices on XETRA.

InTiCa Systems AG Interim Report H1 2022

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Contents

InTiCa Systems in the First Half Year of 2022		4
Foreword by the Board of Directors		4
Board of Directors & Supervisory Board		6
The Stock	7
InTiCa Systems Stock		7
Key data, Share Price Performance & Shareholder Structure		8
Interim Management Report of the Group		9
Economic report		9
Earnings, Asset and Financial Position		11
Risks and Opportunities		12
Outlook		13
Consolidated Interim Financial Statements H1 2022		15
Consolidated Balance Sheet		16
Consolidated Statement of P&L and Comprehensive Income		18
Consolidated Cash Flow Statement		19
Consolidated Statement of Changes in Equity		20
Notes to the Consolidated Interim Financial Statements		21
Other Information	22
Segment Report			24
Responsibility Statement		25
Financial Calendar		26

4 InTiCa Systems AG Interim Report H1 2022

Foreword by the Board of Directors

Dear shareholders, employees and business associates,

In principle, we could simply update a few figures and repeat what we said in our report on the first quarter, because the company's performance in the second quarter was similar to that of the first three months. Volume sales and earnings were slightly lower than in the first half of 2021, which was dominated by catch-up effects and the economic recovery. That said, Group sales of EUR 48.7 million and an EBIT margin of 3.0% were not only within our expectations in absolute terms, they are also very good by historical standards. Given the global economic trend, they highlight the resilience of our business model.

Macroeconomic conditions have not changed significantly in the past months. The war in Ukraine is continuing, the pandemic has not yet been overcome, and the situation is still dominated by supply bottlenecks and price rises. If anything, uncertainty has increased because of the looming threat of an energy crisis. Economic institutes and industry associations have cut their forecasts for the full year significantly and the hoped-for easing of the supply chain problems is moving out of sight. About 90% of companies in the automotive, electrical and electronics sectors are complaining of supply bottlenecks and procurement problems, with the expected duration now put at almost one year. Raw material prices recently stabilized at a high level, but this is less a real sign of improvement than an

expression of concern about the development of global demand, pointing to a possible recession.

So far, InTiCa has coped very well with this difficult situation. Orders on hand are still very high, order offtake has been largely stable and the material cost ratio has been kept at an acceptable level despite the massive hike in prices on the raw material markets, thanks to a less material-intensive product mix and adjustment of our product prices. InTiCa continues to benefit from its strategic alignment to global megatrends and innovative key technologies. In the first half of the year, the company succeeded, for example, in gaining new orders for actuators and stators for e-mobility as well as for power components for storage solutions and electric charging stations which help to secure the sales volume planned for 2022 and achieve our medium-term targets. In the field of sensors, there are also large orders for vehicle access systems, with production scheduled to start in the second quarter of 2023, and ongoing product developments which are expected to result in customer orders in the short term.

However, even here in Passau we are not living in splendid isolation. The volatility on the markets served by InTiCa has increased further in recent months, and customers and suppliers are increasingly postponing planned deliveries and

InTiCa Systems AG Interim Report H1 2022

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Technologies for growth markets

altering planning and offtake volumes at short notice. In line with the current situation and as a precaution for the months ahead, we have started to reduce the number of agency staff at our site in the Czech Republic and reintroduced short-term working on a limited scale in Passau in August. These are temporary measures to enable the company to respond promptly to reductions in order offtake. This type of proactive risk management has proven its worth in recent months - in contract and liquidity management, capital expenditures for optimization at the site in the Czech Republic and the increased focus on cybersecurity.

However, we permanently monitor opportunities as well as risks. An increase in inquiries can be observed for inverter technology, especially for photovoltaic systems. The trend towards purchasing solar systems is expected to continue in view of the looming energy crisis and will strengthen demand for inverters. To achieve the goal of 1 million charging points by 2030 set out in the German government's coalition agreement, the pace of expansion needs to increase sixfold from 330 to 2,000 new charging points per week. We have already developed highly innovative products for a new customer, which we expect to place with further customers in the near future. Overall, investment in the field of e-solutions has been stepped up again as announced. In addition, InTiCa has started to set up production of an innovative antenna product and actuators for chassis components in both the Czech Republic and Mexico.

Despite the challenging environment, we are looking forward with confidence and are once again confirming our guidance for the full year. That brings us to our conclusion, which is also unchanged: More than ever, we would like to thank our employees for their pioneering ideas and daily commitment. Moreover, we would like to thank our customers and business associates for their good collaboration and our shareholders for the trust they place in us.

After so much continuity, for those of you who would like to discover something new, we recommend that you take a look at our updated website. There you will find everything you need to know about our company, our products and InTiCa shares presented in a new design.

Passau, August 2022

Yours,

Dr. Gregor Wasle	Günther Kneidinger
Chairman of the	Member of the
Board of Directors	Board of Directors