init innovation in traffic systems SE: Preliminary quarterly figures confirm planning

Order income grows by almost 25 percent - revenues and earnings lag behind previous year

• Revenues reached EUR 35.6m (Q1 2021: EUR 40.5m), EBIT EUR 0.5m (Q1 2021: EUR 2.9m)
• Further order income record of EUR 62.9m (Q1 2021: EUR 50.4m)
• Revenues and earnings targets reaffirmed (revenues 2022: EUR 190 to 200m, EBIT EUR 15 to 20m)

The preliminary figures now available for the first quarter of 2022 have confirmed the cautious planning approach of the Managing Board of init innovation in traffic systems SE (ISIN DE 0005759807). While revenues and earnings lagged behind the previous year due to the global economic turmoil and project delays affecting supply chains and procurement prices, incoming orders increased by almost 25 per cent to EUR 62.9m (Q1 2021: EUR 50.4m). "We therefore continue to expect to achieve our revenues target in the range between EUR 190m and 200m for 2022 and to return to our sustainable growth path from 2023 onwards," announced the Managing Board in a first quarter statement.

"As a company, we have also been affected by the repercussions of the Ukraine war. This has led to lower revenues and earnings compared to the previous year. However, we can expect to make up for this as the year progresses, which is also evidenced by the very positive development in incoming orders," emphasises the Managing Board.

According to preliminary figures, init, a leading international provider of integrated planning, dispatching, telematics and ticketing solutions for buses and trains, recorded revenues of EUR 35.6m in the first quarter of 2022 (Q1 2021: EUR 40.5m). Accordingly, operating earnings before interest and taxes (EBIT) fell to EUR 0.5m (Q1 2021: EUR 2.9m). It should be noted that the first quarter is traditionally the weakest in terms of revenues.

The number of orders has confirmed that growth trends - essential for the demand for init solutions - such as combating climate change, digitalisation and the conversion of public transport to emission-free vehicles or electromobility, are continuing to gain momentum. The order volume of EUR 62.9m is almost a quarter higher than the already very high figure for the previous year. The order backlog as of 31 March 2022 amounts to around EUR 164m (Q1 2021: EUR 138m).

The detailed quarterly statement will be available from 12 May 2022.

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