EQS-News: Kapsch TrafficCom AG: Results for financial year 2021/22

EQS-News: Kapsch TrafficCom AG / Key word(s): Annual Results
   Kapsch TrafficCom AG: Results for financial year 2021/22

   15.06.2022 / 07:15
   The issuer is solely responsible for the content of this announcement.

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   Kapsch TrafficCom AG: Results for financial year 2021/22

   Headlines.

     • Operational turnaround achieved, EBIT positive again effect.
     • Both segments EBIT positive
     • Revenues slightly higher - overall, in both segments and in all
       regions
     • Tax line prevents positive result for the period
     • Guidance 2022/23: stable revenue level and further EBIT improvement

   „I am pleased that we have managed the operative turnaround. In a
   challenging environment, both segments grew and we grew in all regions. In
   the new financial year, we want to further improve profitability “, says
   Georg Kapsch, CEO of Kapsch TrafficCom.

    

   Unless otherwise stated, all values in EUR    
   million                                        2020/21   2021/22       +/-
   Revenues                                         505.2     519.8     +2.9%
   EBIT                                            -123.2      11.0      n.a.
     EBIT margin                                   -24.4%      2.1%   +26.5pp
   Result for the period attributable to equity    -102.9      -9.3      +91%
   holders
   Earnings per share (EUR)                         -7.91     -0.72   € +7.19

    

    Vienna, June 15, 2022 – The financial year 2021/22 has essentially
   delivered what Kapsch TrafficCom had predicted in the outlook of the
   consolidated financial statements of the previous financial year: Revenues
   showed slight growth and EBIT was positive again.

   After a difficult phase, Kapsch TrafficCom succeeded in achieving a
   visible turnaround as from the first quarter. This was accomplished
   despite a restrained revenue development, which was primarily due to two
   reasons. On the one hand, the main focus in North America continued to be
   on stabilizing the organization following extensive restructuring
   measures. Secondly, the Group continued to feel the effects of the
   COVID-19 pandemic.

     • New business momentum was persistently low, especially in the European
       implementation business, due to a lack of sufficient market
       opportunities. The majority of the company's customers are public
       institutions, authorities or corporations. In most countries, their
       focus was either on combating the pandemic or on supporting the
       economy and labor markets. Strengthening budgets and investments to
       support environmental goals were therefore not yet a sufficient
       priority.
     • In addition, bottlenecks in electronic components meant that existing
       demand for components could not be met as desired and an order backlog
       formed.

   As of February 24, 2022, the attention of the world public was focused on
   the fighting in Ukraine. Kapsch TrafficCom has no customers in this
   country. As a result of the sanctions imposed by the European Union
   against Russia, Kapsch TrafficCom did not accept any new orders from this
   country. Revenues in Russia have always been below 1% of Group revenues in
   recent years. The sanctions against Belarus affected Kapsch TrafficCom
   only to a minor extent.

   In this environment, Kapsch TrafficCom succeeded in increasing revenues to
   EUR 520 million (+3%) in financial year 2021/22. The tolling and traffic
   management segments grew by 3% and 2%, respectively.

   Positive growth rates were also recorded across the board from a regional
   perspective: Revenues in the Europe, Middle East, Africa ("EMEA") region
   increased by 2%, those in North, Central and South America ("Americas") by
   3% and revenues in Asia Pacific ("APAC") by 11%.

   The result from operating activities (EBIT) was positive at EUR 11 million
   (previous year: EUR -123 million). The turnaround was achieved, although
   special effects in the amount of EUR -32 million (previous year: EUR -132
   million) burdened EBIT.

   The financial result amounted to EUR -5 million (previous year: EUR -10
   million). Tax expenses amounted to EUR 12 million (previous year: tax
   income of EUR 28 million). The reason for the relatively high tax expense
   is that individual Group companies were not able to claim their negative
   results for the period as deferred tax assets (from loss carryforwards).
   The result for the period attributable to shareholders amounted to EUR -9
   million (previous year: EUR -103 million), which corresponds to earnings
   per share of EUR -0.72 (previous year: EUR -7.91).

   Free cash flow amounted to EUR 17 million in in financial year 2021/22
   (previous year: EUR 4 million). Therefore, net debt decreased to EUR 158
   million since the last balance sheet date (March 31, 2021: EUR 170
   million). The gearing remained constant at 203%. Total assets amounted to
   EUR 512 million as of March 31, 2022 (March 31, 2021: EUR 593 million).
   The equity ratio increased from 14% to 15%.

    

   Segment results for financial year 2021/22.

   71% of revenues were generated by the tolling segment and 29% by the
   traffic management segment. 54% of Group revenues were generated in the
   Europe-Middle East-Africa (EMEA) region, 41% in the Americas region
   (North, Central and South America) and 5% the Asia-Pacific (APAC) region.

   Tolling segment.

   Revenues increased by 3% to EUR 370 million. Declines in the
   implementation business of 11% were offset by 9% higher operations
   revenues and 7% higher component revenues.

   The largest contribution to revenues was made by the EMEA region with EUR
   192 million. In the Americas region, revenues increased by 7% to EUR 158
   million. In the APAC region, revenues remained at around EUR 20 million.

   Results Tolling
   Unless otherwise stated, all values in EUR    
   million                                        2020/21   2021/22       +/-
   Revenues                                         358.2     369.9     +3.2%
   EBIT                                            -117.2       3.3      n.a.
     EBIT margin                                   -32.7%      0.9%   +33.6pp

   EBIT was positive at EUR 3 million (previous year: EUR -117 million). The
   EBIT margin was 1% (previous year: -33%).

   Segment Traffic Management.

   Revenues increased by 2% to EUR 150 million, driven in particular by the
   operations business, which grew by 11%.

   The largest contribution to revenues was made by the EMEA region with EUR
   90 million, which corresponds to a year-on-year increase of 4%. In the
   Americas region, revenues declined by 5% to EUR 54 million. In the APAC
   region, sales increased by EUR 3 million to EUR 6 million.

   Results Traffic Management
   Unless otherwise stated, all values in EUR     
   million                                         2020/21   2021/22      +/-
   Revenues                                          147.0     149.9      +2%
   EBIT                                               -6.0       7.7     n.a.
     EBIT margin                                     -4.1%      5.1%   +9.2pp

   EBIT was positive at EUR 8 million (previous year: EUR -6 million). The
   EBIT margin reached 5% (previous year: -4%).

    

   Outlook.

   Management expects a clear improvement in profitability at a stable
   revenue level for the financial year 2022/23. In order to achieve these
   goals, the focus will remain on new business acquisition and cost
   discipline.

   The report on financial year 2021/22 as well as further material on the
   results will be available today, probably from 7:35 a.m. (CET), at:
   [1]https://kapsch.net/ir

    

   Kapsch TrafficCom 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 2021/22 financial
   year, 4,220 employees generated revenues of about EUR 520 million.

    

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   15.06.2022 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:      [email protected]
   Internet:    www.kapschtraffic.com
   ISIN:        AT000KAPSCH9
   WKN:         A0MUZU
   Listed:      Vienna Stock Exchange (Official Market)
   EQS News ID: 1375519


    
   End of News EQS News Service


   1375519  15.06.2022 

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