In 2016, init recorded the second-highest order income in the company’s history, at EUR 128.7m
- Increase in revenues to EUR 108.6m (2015: EUR 105.3m)
- Operating earnings reach EUR 11.6m (2015: EUR 10.8m)
- Positive effects from acquisitions
- init involved in research projects on autonomous vehicles and networked transport systems
Karlsruhe, 13 March 2017.
init innovation in traffic systems SE (ISIN DE 0005759807 – formerly init AG) achieved its business goals in 2016. According to the preliminary figures that are now available, the world’s leading provider of integrated planning, dispatching, telematics and ticketing solutions for buses and trains increased its revenues in the last financial year by 3 per cent to EUR 108.6m (2015: EUR 105.3m, 2016 updated guidance: EUR 106m). With new orders to the value of EUR 128.7m (2015: EUR 67.2m), the planning goal was achieved and, indeed, the company recorded the second-highest level of incoming orders in its history. Operating earnings before interest and taxes, at EUR 11.6m (2015: EUR 10.8m) were in the target range (2016 updated guidance: EUR 12m).
The figures reflect the positive effects of the iris GmbH acquisitions completed in 2016; this was fully consolidated for the first time. Holding gains of former shares resulted in an extraordinary effect on EBIT of EUR 4.7m. iris is the leading manufacturer of sensor components and products for automatic passenger counting for buses and trains.
A growth driver for the future will be mobile phone ticketing. In 2016 init strengthened its hand in this area with two acquisitions. US subsidiary INIT Innovations in Transportation, Inc. acquired a 26 per cent stake in Bytemark Inc., New York. Bytemark is the leading provider of mobile phone ticketing solutions for transport companies in North America and also has offices in the United Kingdom, India and Australia. The two companies have already worked together on a wide range of major projects involving transport companies in North America and now want to continue their collaboration on a global basis. The investment in Bytemark Inc. is consolidated under the equity method on the init group’s balance sheet.
On 1 October 2016 HanseCom Public Transport Ticketing Solutions GmbH in Hamburg also became part of the init group. HanseCom is a leading provider of mobile phone ticketing as well as of sales and customer management systems for public transport in Germany.
Also, init has set a decisive course for the future with investments in various research projects. In addition to the ever present topic that is the digitalisation of business processes, these projects were mainly concerned with innovations in electromobility, the networking of transport systems, security of data communications and autonomous vehicles in public transport.
The Managing Board of init will provide an insight into these areas of endeavour and present the outlook for 2017 and the detailed Annual Report at the press and analysts conference on 29 March 2017.
