init innovation in traffic systems SE: init is once again expecting improved growth and increased earnings

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DGAP-News: init innovation in traffic systems SE / Key word(s): AGM/EGM/Dividend

15.05.2019 / 15:25
The issuer is solely responsible for the content of this announcement.


 

- Order backlog and order income received at record levels

- Dividend set at EUR 0.12, Supervisory Board newly elected

For init innovation in traffic systems SE (ISIN DE 0005759807), there are currently real opportunities in the links between the massive trends of digitisation and mobility. As Dr Gottfried Greschner, the founder of init and Chairman of the Managing Board, today explained at the Shareholders' Meeting in Karlsruhe, this should boost the growth of the company in 2019 and beyond. The Chairman of the Managing Board provided evidence not only in the form of record order backlog in the amount of around EUR 178m, but also in the record order income for over EUR 69m in the first quarter of 2019. 'Despite the increase in global economic risks, we have maintained a steady growth curve and can once again achieve increased earnings,' explained Greschner to the approximately 210 shareholders present.

'Based on comprehensive process optimisation and efficiency increasing measures, we can assume increasing EBIT margins in the future. For 2019, we are currently expecting a group revenue of around EUR 145m and an EBIT in the region of EUR 7.5m. With adjustments made for one-off extraordinary factors, this corresponds to a growth of 12 per cent compared to 2018,' reported the Chairman.

Clear growth in revenues and earnings

The leading international provider of integrated planning, dispatching, telematics and ticketing solutions for buses and trains has made a good start to the 2019 financial year. init recorded its highest level of new orders in a first quarter, at EUR 69.2m. In terms of revenues (up 20 per cent) and earnings, too, init posted sharp increases despite turbulence in the global economy. Revenues increased to EUR 35.3m (Q1 2018: EUR 29.5m) and EBIT increased to EUR 1.1m (Q1 2018: EUR 0.4m). Net profit as at 31 March 2019 was EUR 0.7m, also well above the previous year's figure of EUR 0.2m.

The Managing Board is convinced that the market for init systems is in a state of technological upheaval characterised by digitisation and networking of the different transport modes. The resulting new requirements from the customers will lead to sustainable additional growth opportunities for init. In the 'Smart Cities' of the future, existing and new transport modes will be tailored to one another, from rental bikes, car sharing and on-demand services to autonomous vehicles which will also serve as

feeders for scheduled routes. 'All of this can be planned, controlled and charged accordingly using our system. The new requirements for transport companies are leading to new potential demand for init,' explained Greschner.

Increasing demand for smart ticketing and e-mobility solutions

A decisive competitive advantage of init is to offer its customers integrated overall solutions. Smart ticketing systems are thereby an important part of the product range. Thus the software of the init subsidiary HanseCom already manages ticketing for the largest transport companies in the German-speaking regions, in Berlin, Hamburg, Munich and Vienna, to name but a few. In the future, HanseCom has great opportunities to grow internationally as well. A new offering requested by an increasing number of customers is the handling of the technical operation - in addition to the maintenance - by init. init is also already offering its customers an overall solution packet for the use of vehicles in the electromobility sector. This makes init the innovation leader in an absolute growth market - because the introduction of electric buses is being massively pushed forward politically.

There are also very promising earnings prospects for init linked to European research projects, such as Aim4it, which is developing a public transport system to enable accessibility for passengers with specific mobility requirements. A pilot project derived from this was recently successfully launched in Singapore and is placed in the final round for the UITP Award in the category 'Diversity & Inclusion'. 'Population growth, increasing urbanisation and impending traffic gridlock are leading to growing public transport passenger numbers around the world. The willingness to expand public transport is therefore growing in many countries and regions. In order to cope with the soaring demand for mobility and simultaneously avoid pollution, billions must be invested in intelligent traffic systems. This will boost the growth of init in the long term. We have also gained strength through cautious acquisitions in some areas and are now in an excellent position with our integrated solutions,' added Greschner.

The shareholders also overwhelmingly approved this strategy. Large majorities of them also voted in favour of the discharge of the Managing Board and the Supervisory Board.

Dividend and Supervisory Board re-election

The proposal by the Managing Board and Supervisory Board on the appropriation of profit was also approved by a clear majority of 99.8 per cent after a short debate. The shareholders therefore will receive a dividend of EUR 0.12 per share for the financial year (previous year: EUR 0.22).

The shareholders also approved the Management's proposal regarding the new elections to the Supervisory Board. Mr Hans-Joachim Rühlig, who has been a member of the Supervisory Board since 2011, and Mr Ulrich Sieg and Dr Hans Rat, members since 2014 and 2012 respectively, were all re-elected with large majorities. The new member elected to the supervisory panel, which has been enlarged to four members, is Ms Christina Greschner. Ms Greschner has extensive knowledge of the init group and its individual business sectors, she has a degree in engineering and also a masters in 'Family Entrepreneurship'. The daughter of the init founder therefore rounds off the skills profile of the Supervisory Board of init SE perfectly.




Contact:
Person making the notification:
Simone Fritz
Investor Relations
ir@initse.com


15.05.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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