Strong growth in revenues and operating earnings

-        Revenues in Q3: 38 percent above previous year, quarterly EBIT increased to EUR 6.2m (Q3 2019: EUR 2.3m)

-        Managing Board confirms growth targets for the full year

init innovation in traffic systems SE (ISIN DE 0005759807) reports a strong increase in revenues and operating profit in the third quarter of 2020. We generated revenues of EUR 49.6m in this period, which is more than 38 per cent than in the same period last year (EUR 35.8m). At the same time, EBIT more than doubled to EUR 6.2m (Q3 2019: EUR 2.3m).

At the end of September, revenues reached a new record level of EUR 130.9m (previous year: EUR 112.8m). Operating earnings before interest and taxes (EBIT) grew to EUR 12.4m (previous year: EUR 10.4m).

"Despite the negative effects of the Corona crisis that are being felt in the economy as a whole, we are on track to meet our growth targets for 2020 as a whole. We continue to expect revenues to rise to around EUR 180m and EBIT to EUR 18m to 20m" emphasises the Managing Board.

The complete quarterly statement will be available here: