EQS-News: Kapsch TrafficCom AG: Results for the first three quarters of 2021/22
EQS-News: Kapsch TrafficCom AG / Key word(s): 9 Month figures/Quarterly / Interim
Statement
Kapsch TrafficCom AG: Results for the first three quarters of 2021/22
23.02.2022 / 07:15
The issuer is solely responsible for the content of this announcement.
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Kapsch TrafficCom – Results for the first three quarters of 2021/22
Highlights.
* Return to positive EBIT with lower revenues.
* Cost-cutting and restructuring measures taking effect.
* Low new business momentum continues to impact revenues.
* Positive free cash flow
* Outlook for financial year 2021/22: Revenue growth and EBIT turnaround.
„Even though results are significantly better than in the previous year, we are still
nowhere near the level we were and need to be at. We are working intensively to
implement new business areas in line with our Strategy 2027 and to better exploit the
potential of our current core business. At the same time, the aim is to sustainably
increase efficiency „, says Georg Kapsch, CEO of Kapsch TrafficCom.
Unless otherwise stated, all values in EUR
million Q1-Q3 2020/21 Q1-Q3 2021/22 +/-
Revenues 384,5 379,2 -1,4%
EBIT -89,0 5,8 n.a.
EBIT margin -23,1% 1,5% +24,7pp
Result for the period attributable to equity -78,3 -2,5 +96,9%
holders
Earnings per share (EUR) -6,03 -0,19 € +5,84
Vienna, February 23, 2022 – After three quarters in a persistently difficult market
environment, Kapsch TrafficCom succeeded in achieving a positive operating result
(EBIT) of EUR 6 million (previous year: EUR -89 million). Revenues of EUR 379 million
were 1 % below the previous year’s level. Earnings attributable to shareholders
amounted to EUR -2 million (previous year: EUR -78 million), corresponding to earnings
per share of EUR -0.19 (previous year: EUR -6.03).
The lower sales for the period were mainly due to the 20% decline in the
implementation business. The operations business, on the other hand, increased by 12%,
mainly due to projects in South Africa and Bulgaria. The components business continued
to suffer from supply chain bottlenecks and declined by 2 %.
Kapsch TrafficCom achieved a significant reduction of its cost base through
restructuring and cost saving measures. This related in particular to material,
personnel and other operating expenses. Special effects burdened EBIT in the amount of
EUR -16 million (previous year: EUR -90 million).
The financial result amounted to EUR -4 million (previous year: EUR -10 million). Tax
expenses amounted to EUR 1 million (previous year: tax income of EUR 19 million). The
result for the period attributable to shareholders amounted to EUR -2 million
(previous year: EUR -78 million), which corresponds to earnings per share of EUR -0.19
(previous year: EUR -6.03).
Free cash flow amounted to EUR 9 million in the first three quarters of 2021/22
(previous year: EUR 1 million). Therefore, net debt decreased to EUR -163 million
since the last reporting date (March 31, 2021: EUR -170 million). The gearing
increased slightly from 200% to 202%. The partial repayments of the promissory note
bond and a bank loan from equity had a balance sheet-reducing effect in the first
quarter. Total assets amounted to EUR 530 million as of December 31, 2021 (March 31,
2021: EUR 593 million). The equity ratio increased from 14% to 15% in the first three
quarters of 2021/22.
Segment results for the first three quarters of 2021/22.
72% of revenues were generated by the tolling segment and 28% by the traffic
management segment. 56% of revenues were generated in the Europe-Middle East-Africa
(EMEA) region, 40% in the Americas region (North, Central and South America) and 4%
the Asia-Pacific (APAC) region.
Tolling segment.
Sales decreased by 2% to EUR 273 million. Declines in the implementation business of
23% and in the components business of 2% were not offset by 10% higher revenues in the
operations business.
The EMEA region made the largest contribution to revenues with EUR 148 million. In
total, this region recorded growth of 2%. In the Americas region, revenues declined by
6% to EUR 112 million. In the APAC region, revenues decreased by EUR 2 million to EUR
14 million.
Results Tolling
Unless otherwise stated, all values in EUR
million Q1-Q3 2020/21 Q1-Q3 2021/22 +/-
Revenues 279,6 273,1 -2,3%
EBIT -79,7 -0,6 +99,2%
EBIT margin -28,5% -0,2% +28,3pp
EBIT was slightly negative at EUR -1 million (previous year: EUR -80 million).
Segment Traffic Management.
Revenues increased by 1% to EUR 106 million. This was due in particular to the
operations business, which grew by 15%.
The largest contribution to revenues was made by the EMEA region with EUR 64 million.
In total, this region recorded an increase of 9%. In the Americas region, revenues
declined by 10% to EUR 39 million, and in the APAC region, they remained constant at
EUR 3 million.
Results Traffic Management
Unless otherwise stated, all values in EUR
million Q1-Q3 2020/21 Q1-Q3 2021/22 +/-
Revenues 104,9 106,0 +1,1%
EBIT -9,3 6,5 n.a.
EBIT margin -8,9% 6,1% +15,0pp
EBIT was positive at EUR 7 million (previous year: EUR -9 million). The EBIT margin
was 6% (previous year: -9%).
Outlook.
For the financial year 2021/22, management expects a year-on-year increase in
revenues. However, the previously targeted +10% currently appears out of reach. As
long as the market environment remains so challenging due to COVID and new business
momentum does not increase, double-digit growth rates will be a challenge.
Of course, the lower revenue expectation also affects profitability. However, Kapsch
TrafficCom cannot further reduce the Group’s cost base in the short term without the
risk of not being able to take advantage of upcoming growth impulses due to a lack of
resources. Thus, until revenues pick up again, the company is in a phase of low
profitability. EBIT in financial year 2021/22 (including special items) is expected to
be below the previously forecast 3% (but positive).
The report on the first three quarters of 2021/22 are scheduled to be available today,
from 7:35 a.m. (CET), at: [1]https://kapsch.net/ktc/ir
Kapsch TrafficCom is a globally renowned provider of transportation solutions for
sustainable mobility. Innovative solutions in the application fields of tolling,
tolling services, traffic management and demand management contribute to a healthy
world without congestion.
Kapsch TrafficCom has brought projects to fruition in more than 50 countries around
the globe. With one-stop-shop solutions, the company covers the entire value chain of
customers, from components to design and implementation to the operation of systems.
Headquartered in Vienna, Kapsch TrafficCom has subsidiaries and branches in more than
25 countries. It has been listed in the Prime Market segment of the Vienna Stock
Exchange since 2007 (ticker symbol: KTCG). In its 2020/21 financial year, around 4,660
employees generated revenues of EUR 505 million.
Press contacts: Ingrid Riegler Investor contact:
Carolin Treichl Head of Corporate Hans Lang
Communications
Executive Vice President Investor Relations Officer
Marketing & Communications Kapsch TrafficCom AG
Am Europlatz 2 Kapsch TrafficCom AG
Kapsch TrafficCom AG 1120 Vienna, Austria Am Europlatz 2
Am Europlatz 2 T +43 50 811 1724 1120 Vienna, Austria
1120 Vienna, Austria ingrid.riegler@kapsch.net T +43 50 811 1122
T +43 50 811 1710 [3]ir.kapschtraffic@kapsch.net
[2]carolin.treichl@kapsch.net
Further information: [4]www.kapsch.net/ktc Follow us on Twitter and LinkedIn
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23.02.2022 This Corporate News was distributed by EQS Group AG. www.eqs.com
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Language: English
Company: Kapsch TrafficCom AG
Am Europlatz 2
1120 Vienna
Austria
Phone: +43 50811 1122
Fax: +43 50811 99 1122
E-mail: ir.kapschtraffic@kapsch.net
Internet: www.kapschtraffic.com
ISIN: AT000KAPSCH9
WKN: A0MUZU
Listed: Vienna Stock Exchange (Official Market)
EQS News ID: 1285665
End of News EQS News Service
1285665 23.02.2022
References
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2. carolin.treichl@kapsch.net
3. ir.kapschtraffic@kapsch.net
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