Financial Reports

• Incoming orders for the 2023 financial year at a new record of EUR 225m
• Revenue and earnings targets for 2023 financial year achieved
• Incoming orders already at the previous year’s level
• Managing Board forecasts double-digit growth in the current year

Karlsruhe, 21 March 2024

init innovation in traffic systems SE (ISIN DE 0005759807) is at the beginning of a growth phase. After winning two major projects (Atlanta and London) with a volume of over EUR 200m in the last two months alone, the global digitalisation specialist for buses and trains is expecting a new record level of incoming orders in 2024, the Managing Board announced today at its annual press conference and analysts’ meeting.

The latest international contract wins are particularly pleasing as they are projects that will last a number of years, with associated maintenance and service contracts terms of more than ten years. “This provides us with a solid foundation to continue growing our business,” states the Managing Board.

New records set

init managed to close the last 2023 financial year with a record order backlog of EUR 175m (previous year: EUR 164m), providing it with a good basis for the coming year. An important element in this success were follow-up orders from long-standing customers in Germany and the United States. In the 2023 financial year, the init group won new orders with a total volume of EUR 225m (previous year: EUR 214m), once again setting a new record.

This also applies to revenue, which grew by 10.2 per cent in 2023 to EUR 211m (2022: EUR 191m). This figure was in line with expectations, as was EBIT, which amounted to EUR 21m, matching the previous year’s figure, despite inflation-induced hikes in purchase costs and the additional sales expenses incurred to win new projects.