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18.11.2021 – 07:16

Kapsch TrafficCom AG

EANS-News: Kapsch TrafficCom
Results for the first half of 2021/22 - ATTACHMENT

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  Corporate news transmitted by euro adhoc with the aim of a Europe-wide
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Financial Figures/Balance Sheet/Earnings Forecast/Mid Year Results

Vienna - Highlights.

* Earnings positive again, revenues at previous year's level.
* EBIT of both segments positive.
* Stable gearing.
* Guidance 2021/22: Revenues up by approximately 10% to around EUR 550 million,
  EBIT margin of around 3%.


"I am glad to see that the restructuring measures are having an effect. However,
the Group continues to feel the impact of the COVID 19 pandemic. Therefore, the
main focus in the second half of the year will be on maintaining cost discipline
and acquiring new business. However, I am convinced that we have not only put
the most difficult phase behind us, but also used it to make the Group leaner,
more flexible, more agile, and better aligned to future opportunities," says
Georg Kapsch, CEO of Kapsch TrafficCom.


Unless otherwise stated,                     H1 2020/21 H1 2021/22 +/-
all values in EUR million
Revenues                                     257.5      255.2      -0.9%
EBIT                                         -57.8      10.6       > 100%
EBIT margin                                  -22.5%     4.2%       26.6pp
Result for the period attributable to equity -54.0      3.0        > 100%
holders
Earnings per share (EUR)                     -4.15      0.23       EUR +4.38


Kapsch TrafficCom generated a positive operating result (EBIT) of EUR 11 million
in the first half of the current financial year, compared to a negative EBIT of
EUR -58 million on approximately the same revenues in the first half of the
previous financial year. In the first half of 2021/22, special effects amounting
to EUR -4 million (previous year: EUR -59 million) had an impact on EBIT.
Compared to the first half of the last financial year, the EBIT margin increased
by around 27 percentage points to 4%.

It was right and important to reduce the company's cost base significantly and
sustainably, especially as the Group continues to clearly feel the effects of
the COVID 19 pandemic. New business momentum was persistently low, especially in
the implementation business, due to a lack of sufficient market opportunities.
The components business suffered from shortages of electronic components, which
meant that existing demand could not be met as desired. In some markets, on the
other hand, demand continued to be lower.

The financial result amounted to EUR -3 million (previous year: EUR -8 million).
Tax expenses amounted to EUR 2 million (previous year: tax income of EUR 11
million). The result for the period attributable to shareholders amounted to EUR
3 million (previous year: EUR -54 million), corresponding to earnings per share
of EUR 0.23 (previous year: EUR -4.15).

Free cash flow amounted to EUR -1 million in the first half of 2021/22 (previous
year: EUR -30 million). Therefore, net debt increased slightly to EUR -174
million since the last reporting date (March 31, 2021: EUR -170 million). The
gearing remained constant at 200%. The partial repayment of the promissory note
bond and a bank loan totaling EUR 49 million from own funds had a balance sheet-
reducing effect in the first quarter. Total assets amounted to EUR 553 million
as of September 30, 2021 (March 31, 2021: EUR 593 million). The equity ratio
increased from 14% to 16% in the first half of 2021/22.

Segment results for the first half of 2021/22.
71% of revenues were generated by the tolling segment and 29% by the traffic
management segment. 57% of revenues were generated in the Europe-Middle East-
Africa (EMEA) region, 39% in the Americas region (North, Central and South
America) and 4% the Asia-Pacific (APAC) region.

Tolling segment.
Sales decreased by 5% to EUR 181 million. Declines in the implementation
business of 42% and in the components business of 9% were not offset by 23%
higher revenues in the operations business.

The EMEA region made the largest contribution to revenues with EUR 101 million.
In total, this region recorded a growth of 7%. In the Americas region, revenues
declined by 16% to EUR 71 million. In the APAC region, revenues decreased by EUR
2 million to EUR 9 million.


Unless otherwise stated,  H1 2020/21 H1 2021/22 +/-
all values in EUR million
Revenues                  190.6      181.0      -5.0%
EBIT                      -52.1      1.3        > 100%
EBIT margin               -27.3%     0.7%       28.1pp


EBIT was positive at EUR 1 million (previous year: EUR -52 million). The EBIT
margin was 1% (previous year: -27%).

Segment Traffic Management.
Revenues increased by 11% to EUR 74 million. This was due in particular to the
operations business, which grew by 21%.

The largest contribution to revenues was made by the EMEA region with EUR 44
million. In total, this region recorded an increase of 24%. In the Americas
region, revenues declined by 3% to EUR 28 million. In the APAC region, revenues
decreased by EUR 0.4 million to EUR 2 million.


Unless otherwise stated,  H1 2020/21 H1 2021/22 +/-
all values in EUR million
Revenues                  66.9       74.1       10.8%
EBIT                      -5.7       9.3        > 100%
EBIT margin               -8.6%      12.6%      21.1pp


EBIT was positive at EUR 9 million (previous year: EUR -6 million). The EBIT
margin was 13% (previous year: -9%).

Outlook.

Management forecasts revenues to increase by approximately 10% to around EUR 550
million in financial year 2021/22. The company expects growth in North America
as well as a continued recovery in the components business. This should
compensate for the expiry of the operations projects in Poland at the end of the
second quarter and in the third quarter.

The EBIT margin is expected to be in the region of 3%.

In addition to maintaining cost discipline, the main focus in the second half of
the year will be on acquiring new business. Management expects the most
important economies to further stabilize as COVID vaccination coverage rates
increase. This is the basis for higher market momentum. It is not possible to
say exactly when a significant recovery can be expected on a broad basis. Until
then, however, the Group expects the market situation to improve.


The report on the first half of 2021/22 as well as further materials on the
results are scheduled to be available today, from 7:35 a.m. (CET), at: https://
kapsch.net/ktc/ir





Further inquiry note:
Investor contact:
Hans Lang
Investor Relations Officer
Kapsch TrafficCom AG
Am Europlatz 2, 1120 Vienna, Austria
T +43 50 811 1122
IR.kapschtraffic@kapsch.net

Press contact:
Carolin Treichl
Executive Vice President Marketing & Communications
Kapsch TrafficCom AG
Am Europlatz 2, 1120 Vienna, Austria
T +43 50 811 1710
carolin.treichl@kapsch.net

Ingrid Riegler
Head of Corporate Communications
Kapsch TrafficCom AG
Am Europlatz 2, 1120 Vienna, Austria
+43 50 811 1724
ingrid.riegler@kapsch.net

end of announcement                         euro adhoc
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Attachments with Announcement:
----------------------------------------------
http://resources.euroadhoc.com/documents/2235/5/10810533/1/KTC_H1_2021_22_en.pdf
issuer:       Kapsch TrafficCom AG
              Am Europlatz  2
              A-1120 Wien
phone:        +43 50811 1122
FAX:          +43 50811 99 1122
mail:      ir.kapschtraffic@kapsch.net
WWW:       www.kapsch.net/ktc
ISIN:         AT000KAPSCH9
indexes:
stockmarkets: Wien
language:     English