EQS-News: Kapsch TrafficCom AG / Key word(s): Quarter Results
Kapsch TrafficCom AG: Result for the first three quarters of 2024/25.
19.02.2025 / 07:15 CET/CEST
The issuer is solely responsible for the content of this announcement.
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Kapsch TrafficCom – Result for the first three quarters of 2024/25.
Highlights.
• Revenues increased by 3% to EUR 411 million.
• EBIT reached EUR 6 million despite deconsolidation effects.
• Free cash flow of EUR 24 million.
• Pleasing development in the third quarter.
• Outlook for full year 2024/25 unchanged.
“Although we are not yet satisfied with the current earnings situation, we see a pleasing
development, particularly in view of the difficult global political and economic
conditions, especially in the third quarter,” says Georg Kapsch, CEO of Kapsch TrafficCom
AG.
Unless otherwise stated, all values in EUR
million. Q1-Q3 2023/24 Q1-Q3 2024/25 +/-
Revenues 400.0 410.6 +2.6%
EBIT^1) 71.9 5.9 -91.7%
EBIT margin^1) 18.0% 1.4% -16.5pp
Result for the period attributable to equity 38.3 -7.1 –
holders
Earnings per share (EUR) 2.95 -0.50 –
^1) Adjustment previous year: reporting of losses from derivative financial instruments
in finance costs
Vienna, February 19, 2025 – The first three quarters of financial year 2024/25, but
especially the third quarter, were consistently pleasing for the Kapsch TrafficCom Group.
Revenues increased slightly compared to the previous year and the operating business
recorded a continuous improvement. This confirms that the focus on costs is increasingly
having an effect and that Kapsch TrafficCom is on the right track.
The past nine months have brought considerable new projects - both in terms of content
and scope - and in the third quarter a number of existing projects were completed or
their operation extended.
Earnings position.
The key earnings figures for the current financial year 2024/25 are only comparable with
the previous year to a limited extent: In the previous year, the conclusion of the
arbitration proceedings regarding the terminated toll contract in Germany led to a
one-off cash inflow, which was visible in EBIT in the amount of EUR 72 million, among
other things. In the current year, on the other hand, the effects of the deconsolidation
of some subsidiaries - in particular the sale of the South African company TMT - had a
negative impact of EUR 7 million on EBIT.
Revenues rose by 3% from EUR 400 million in the first three quarters of the previous year
to EUR 411 million in the reporting period. The operating result EBIT reached EUR
6 million after EUR 72 million in the same period of the previous year.
In particular, the third quarter shows the improvement achieved in the operating
business: while quarterly revenues of EUR 136 million were only 2% higher than the
previous year's figure of EUR 134 million, EBIT reached EUR 7 million after EUR
-2 million in the third quarter of the previous year.
The financial result amounted to EUR -10 million in the first three quarters of the
current financial year after EUR -25 million in the previous year, with the improvement
primarily reflecting the decline in interest expenses. The result for the period
attributable to equity holders amounted to EUR -7 million after EUR 38 million in the
same period of the previous year, with earnings per share of EUR -0.50 (previous year:
EUR 2.95).
Segment performance.
The aforementioned effects from the deconsolidation amounting to EUR -7 million are
reflected in the traffic management segment in the EMEA region (Europe, Middle East,
Africa). The revenues and earnings shares of the corresponding companies have also been
eliminated since then.
The tolling segment therefore contributed 75% to total revenues, the traffic management
segment 25%. In the tolling segment, revenues increased by 10% from EUR 282 million to
EUR 309 million. EBIT amounted to EUR 6 million; in the same period of the previous year,
it amounted to EUR 59 million in connection with the cash inflow from Germany. In the
traffic management segment, revenues fell by 14% from EUR 118 million to EUR 102 million,
mainly due to the sale of TMT, as a result of which EBIT amounted to EUR -0.4 million
after EUR 13 million.
In regional terms, business in the EMEA region remained stable. In the Americas region
(North, Central and South America), revenues increased by 9%, while project completions
in the APAC region (Asia-Pacific) led to a decline of 20%.
Financial and asset position.
Cash flow from operating activities amounted to EUR 27 million after EUR 63 million in
the first three quarters of the previous year. While the one-off effect in connection
with the settlement in Germany had a strong positive impact in the previous year, there
was an operational improvement in the reporting period, to which the change in net
working capital also made a positive contribution of EUR 3 million (previous year: EUR
-7 million).
The free cash flow reflects the pleasing liquidity development and reached EUR 24 million
in the first three quarters of the financial year, compared to EUR 68 million in the same
period of the previous year, with the cash inflow from the settlement in Germany making a
positive contribution of EUR 79 million.
Overall, Kapsch TrafficCom recorded a stable balance sheet development in the first three
quarters of 2024/25: On the assets side, the increase in cash and cash equivalents to EUR
43 million (March 31, 2024: EUR 33 million) and the elimination of assets held for sale
(March 31, 2024: EUR 11 million) are particularly evident. On the liabilities side, a
decrease in liabilities is visible, as well as the ongoing reclassification of financial
liabilities from non-current to current in line with maturities.
The deconsolidation in particular led to a decrease in total assets from EUR 444 million
to EUR 436 million compared to the balance sheet date of March 31, 2024, resulting in an
increase in the equity ratio from 19% to 20%. Net debt fell from EUR 106 million to EUR
97 million, reducing the gearing ratio to 111%.
Outlook.
For the financial year 2024/25, the management continues to expect revenues to grow above
the forecasted average annual market growth of 7.5% from 2024 to 2030 according to Grand
View Research. The operating result (EBIT) should show a slight improvement compared to
the previous year’s result adjusted for one-time effects of EUR 15 million, although
one-time effects are still possible in the remainder of the financial year. Despite the
improved situation, the focus remains on costs.
In addition, the management continues to aim for further cash inflows from pending
proceedings and other measures to further reduce net debt. The aim is to achieve a
minimum level of net debt to EBITDA of less than 3.0x in the longer term.
The report on the first three quarters of 2024/25 as well as further materials on the
results are scheduled to be available today, from 7:35 a.m. (CET), at:
(1)www.kapsch.net/ir
Kapsch TrafficCom is a globally renowned provider of transportation solutions for
sustainable mobility with successful projects in more than 50 countries. Innovative
solutions in the application fields of tolling, tolling services, traffic management and
demand management contribute to a healthy world without congestion.
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.
Kapsch TrafficCom, headquartered in Vienna, has subsidiaries and branches in more than 25
countries and is listed in the Prime Market segment of the Vienna Stock Exchange (ticker
symbol: KTCG). In its 2023/24 financial year, about 4,000 employees generated revenues of
EUR 539 million.
Press contacts: Investor contact:
Sandra Bijelic
Carolin Treichl Head of Corporate Marcus Handl, Valerie Riebner
Executive Vice President Communications Investor Relations team
Marketing & Communications Kapsch TrafficCom AG Kapsch TrafficCom AG
Kapsch AG Am Europlatz 2 Am Europlatz 2
Am Europlatz 2 1120 Vienna, Austria 1120 Vienna, Austria
1120 Vienna, Austria T +43 50 811 1720 T +43 50 811 1122
T +43 50 811 1710 (3)sandra.bijelic@kapsch.net (4)IR.kapschtraffic@kapsch.net
(2)carolin.treichl@kapsch.net
Further information: (5)www.kapsch.net Follow us on LinkedIn
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19.02.2025 CET/CEST This Corporate News was distributed by EQS Group. 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: 2088209
End of News EQS News Service
2088209 19.02.2025 CET/CEST
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