Financial Reports

On the following pages we provide init’s annual reports and quarterly statements of init SE in PDF format.

Key figures

The most important key figures in comparison

FY	2025	2024	2023	2022	2021	2020
Revenues (EUR million)	329.7	265.7	210.8	191.3	176.7	180.7
EBIT (EUR million)	32.5	24.5	21.0	21.0	17.6	19.6
Consolidated net profit (EUR million)	19.4	15.2	15.2	16.5	12.4	14.9
Earnings per share (EUR)	1.97	1.57	1.54	1.66	1.25	1.50
Dividend (EUR)	0.80 + 0.10 special*	0.80	0.70	0.60 + 0.10 special	0.55	0.55
Employees (annual average)	1,558	1,361	1,140	1,098	1,055	1,009

*proposed to the AGM 2026

Financial Year 2026

Digitalisation specialist for buses and trains recorded the best first quarter in company history

Major projects yield revenue of EUR 98.2 million in Q1 2026 (Q1 2025: EUR 70.4 million)
Full-year forecast reaffirmed
Ticketing systems in Atlanta and Houston successfully implemented ahead of the Soccer World Cup in the US

Karlsruhe, 13 May 2026

init innovation in traffic systems SE (ISIN DE 0005759807) recorded the best first quarter in history in the 2026 financial year. For the first time, the digitalisation specialist for buses and trains reached revenues of almost EUR 100m (precisely 98.2 million, Q1 2025: EUR 70.4m) in the first three months of the 2026 financial year. In parallel, earnings before interest and taxes (EBIT) also developed very positively to EUR 6.7m (Q1 2025: EUR 2.0m), despite the first quarter typically involving a high level of upfront expenditure. For the full year, the Managing Board expects continued above-average growth in revenue to between EUR 380m and EUR 410m (31 December 2025: EUR 330m) and in EBIT to between EUR 38m and EUR 42m (31 December 2025: EUR 32.5m), despite recent geopolitical upheavals.

The start of the year was very successful despite global turbulence and challenging conditions. As an innovative technology supplier and service partner for transport operators, the init group was once again demonstrated its resilience, agility and adaptability. Next to the impact from major projects in the INIT Integrated Systems business unit, stable growth was also achieved in the other segments. Furthermore, init was able to secure one of the largest contracts to date, with an estimated total volume of around AUD 615m (approx. EUR 376m), with Transport for New South Wales (TfNSW) in Sydney. The contract covers an upgrade to the design, along with its installation and delivery of the ticketing system, as well as its operation over a period of ten years.

Record revenue and record contract

A key factor behind the Q1 record revenue was, in particular, the successful implementation of ticketing systems for public transport in Atlanta and Houston – two major projects ahead of the Soccer World Cup in the US, which kicks off in June. The systems were successfully implemented at both venues, carrying millions of passengers daily.