Revenue target achieved - earnings lag behind forecast - order income and cash flow above target
Disclosure of inside information acc. to article 17 Regulation (EU) no 596/2014
Karlsruhe, 26 February 2019.
init innovation in traffic systems SE (ISIN DE 0005759807) has achieved the revenue target set for 2018 with EUR 135m (previous year: EUR130.6m), but operating earnings before interest and taxes (EBIT) will fall short of the forecast (EUR 10-12 m). According to preliminary figures, EBIT for the past financial year amounts to EUR 6.3m (previous year: EUR 8.6m). The reasons for this are uniquely necessary, non-cash depreciation on an investment in the US and additional work in the development of new hardware and software in particular in the business area ticketing.
However, this capital expenditure should have a sustained positive effect on the growth of init SE. For the current year, the Managing Board therefore expects a significant increase in revenues and earnings. This is supported by incoming orders, which, at over EUR 160m in 2018, clearly exceed both the forecast (EUR 140-150m) and the previous year's figure (EUR 139.4m). Cash flow from operating activities also developed very positively, which is expected to have multiplied to more than EUR 10m compared to the previous year (EUR 2.1m).
The final figures, the complete annual report for 2018 and the forecast for financial year 2019 will be presented and explained by the Managing Board at the Annual Press and Analyst Conference on 25 March 2019 in Frankfurt am Main.
