Financial Reports

Despite delivery bottlenecks in the third quarter:

• Revenues for the first nine months at EUR 125.1m, just under 5 percent below the previous year (EUR 130.9m) and below target
• Increased procurement and personnel costs reduce quarterly profit
• Incoming orders of EUR 37.8m in Q3, 19 percent above previous year (EUR 31.7m)

Karlsruhe, 3 November 2021.

The Managing Board of init innovation in traffic systems SE (ISIN DE 0005759807) continues to expect the targets set for 2021 to be achievable despite the global supply bottlenecks experienced in the third quarter. According to the preliminary figures available, the revenues of the digitisation specialist for buses and trains fell slightly, by just under 5 percent year-on-year in the first nine months to EUR 125.1m (30/09/2020: EUR 130.9m) and remained below the expectations. Increased procurement and personnel costs as well as the tense labour market situation had a negative impact on operating profit before interest and taxes (EBIT) which was also below expectations at EUR 10.5m (30/09/2020: EUR 12.4m). Against this, init recorded an increase of a solid 19 percent at EUR 37.8m in incoming orders in the third quarter (Q3 2020: EUR 31.7m).

"We are currently registering contradictory developments. On the one hand, as a globally active company, we cannot detach ourselves from the general supply bottlenecks in the short term, while on the other hand, sustainable growth factors such as advancing digitisation and new investment programmes for public transport continue to have an impact," the Managing Board reported.