- 19.11.2025, 07:15:46
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EQS-News: Kapsch TrafficCom AG: Result for the first half of 2025/26.
EQS-News: Kapsch TrafficCom AG / Key word(s): Half Year Results
Kapsch TrafficCom AG: Result for the first half of 2025/26.
19.11.2025 / 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 half of 2025/26.
Highlights.
• Decline in revenues of 27% from EUR 275 million to EUR 200 million.
• Settlement agreement reached with the Federal Republic of Germany in
June.
• EBIT increased to EUR 10 million due to the Germany effect.
• Equity ratio increased to 23%, gearing ratio increased to 117%.
• Outlook for full year 2025/26 adjusted.
“We are seeing extremely hesitant awarding behavior across the entire
market. Despite the infrastructure packages designed to stimulate the
economy, the corresponding investment decisions are still pending and some
large project tenders or their awarding are being delayed. We are missing
out on these revenues. Our cost management is working well, but we are
positioned for a higher level of revenue. Accordingly, our attention is
now focused primarily on order intake and on adjusting to the current
level of revenue,” said Georg Kapsch, CEO of Kapsch TrafficCom.
Unless otherwise stated, all figures
are in EUR million. H1 2024/25 H1 2025/26 +/-
Revenues 274.8 200.0 -27.2%
EBIT -0.7 10.4 –
EBIT margin -0.3% 5.2% –
Result for the period, attributable to -10.5 2.1 –
equity holders
Earnings per share (EUR) -0.73 0.15 –
Vienna, November 19, 2025 – The first half of the 2025/26 financial year
was disappointing for the Kapsch TrafficCom Group. As already communicated
in an ad hoc announcement on October 27, 2025, revenue fell significantly
short of expectations, mainly due to the current difficult market
situation. However, the one-time effect from the settlement with the
Federal Republic of Germany still enabled a positive result.
Settlement agreement with Germany.
At the end of June, a settlement agreement was reached with the Federal
Republic of Germany in connection with the termination of the contract for
the automatic control of the infrastructure charge (passenger car toll) in
2019. The effect on earnings was already visible in the first quarter of
the financial year at EUR 23 million, and the agreed payment of around EUR
27 million to the subsidiary MTS Maut & Telematik Services GmbH was made
at the beginning of the second quarter in July.
Earnings position.
At EUR 200 million, revenue in the first half of the current 2025/26
financial year was 27% below the previous year’s figure of EUR 275
million. As expected, around EUR 40 million of this decline was related to
the removal of two major operation projects in the EMEA region – the
termination of the tolling project in the South African province of
Gauteng and the deconsolidation of the Belarusian company, which operates
the tolling project in Belarus. In North America, the relocation of
manufacturing also led to a temporary interruption and a corresponding
backlog in deliveries. The further decline in revenues reflects the
absence of projects in almost all regions that had been expected. The
difficult market situation is reflected in delays in project tenders or
their award, which are affecting the entire industry. Accordingly, order
intake in the first half of the year was also below expectations at EUR
224 million, with the order backlog still amounting to EUR 1.2 billion at
the end of September 2025.
Earnings before interest and taxes (EBIT) reached EUR 10 million, compared
with EUR -1 million in the previous year, resulting in an EBIT margin of
5%. The one-time effect from the settlement agreement with the Federal
Republic of Germany contributed significantly to this positive earnings
development; without this effect, EBIT would have been significantly
negative at EUR -13 million. On the cost side, the first half of the year
was in line with the expected level of revenues and expenses; material and
personnel costs decreased compared to the previous year in line with the
removal of the two projects. The project in Belarus, which is no longer
fully consolidated, contributed to the proportionate earnings from
associates and joint ventures in the reporting period, which rose to EUR 7
million (previous year: EUR 2 million). As in the previous year, operating
currency effects had a negative impact of EUR -3 million on EBIT.
The financial result declined from EUR -8 million to EUR -9 million in the
first half of the year. Although interest expenses decreased,
hyperinflation adjustments of EUR -1 million (previous year: EUR -2
million) and negative effects from exchange rate changes of EUR -5 million
(previous year: EUR -2 million) had to be recognized again.
The net income attributable to equity holders amounted to EUR 2 million,
compared with EUR -10 million in the first half of the previous year,
while earnings per share amounted to EUR 0.15 (previous year: EUR -0.73).
Segment performance.
The tolling segment contributed 72% to total revenues in the first half of
the year, while the traffic management segment contributed 28%. There was
a decline in revenues in both segments: In the tolling segment, revenues
fell by 29% from EUR 205 million to EUR 145 million. This segment was
impacted by both the loss of revenue from the two operation projects in
EMEA and the production backlog in North America, which is reflected in
lower component revenues. EBIT rose from EUR 3 million in the first half
of the previous year to EUR 13 million in the reporting period due to the
one-time effect from Germany. In the traffic management segment, revenue
fell by 21% from EUR 70 million to EUR 55 million, while EBIT remained at
the previous year’s level at EUR -3 million.
The Americas region was the strongest region in terms of revenue in the
reporting period, accounting for 52% of total revenue, although Kapsch
TrafficCom recorded declines in revenues in all business regions: In the
EMEA region (Europe, Middle East, Africa) by 37%, in the Americas region
(North, Central, and South America) by 18%, and in the APAC region
(Asia-Pacific) by 20%.
Financial and asset position.
In the second quarter, the cash inflow from Germany was used largely to
repay liabilities. Free cash flow was negative at EUR -4 million in the
first half of the year, compared with EUR 1 million in the previous year.
While the equity ratio rose from 20% at the end of March to 23% at the
half-year reporting date of September 30, the gearing ratio also increased
from 111% to 117%.
Connected vehicles: The world’s first series-ready CV tolling system.
Kapsch TrafficCom has reached a milestone in technology leadership: For
many years, the Company has been investing in the expected mobility of the
future with connected vehicle (CV) communication, the communication
between vehicles and other vehicles and roadside infrastructure. The
world’s first series-ready CV tolling system is now being introduced on an
expressway in the USA. The project will integrate a conventional roadside
tolling system with data from connected vehicles. This is a test project
for large-scale deployment and a technological milestone for Kapsch
TrafficCom and the entire industry.
Outlook.
Based on current developments, the outlook for the full year 2025/26 was
adjusted on October 27, 2025: Kapsch TrafficCom expects a decline in
revenues to EUR 450 million. The main reasons remain the deconsolidation
of several companies in the past financial year, but also the current
difficult market environment. Operating profit (EBIT) is expected to be
EUR 25 million, taking into account the income from the arbitration
proceedings with the Federal Republic of Germany.
In the coming months, management will focus on order intake and adjusting
costs to the current revenue level. The order backlog of EUR 1.2 billion
continues to form a solid basis for growth, although some larger projects
will only be reflected in revenue in the medium to long term.
The report on the first half of 2025/26 and further materials on the
results will be available today, expected from 7:35 a.m. (CEST), 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 areas of tolling and traffic
management contribute to a healthier 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 2024/25 financial
year, more than 3,000 employees generated revenues of EUR 530 million.
Press contact: Investor contact:
Sandra Bijelic Marcus Handl, Teresa Hartlieb
Head of Corporate Communications Investor Relations Team
Kapsch TrafficCom AG Kapsch TrafficCom AG
Am Europlatz 2 Am Europlatz 2
1120 Vienna, Austria 1120 Vienna, Austria
T +43 50 811 1720 T +43 50 811 1122
[2]sandra.bijelic@kapsch.net [3]IR.kapschtraffic@kapsch.[4]net
For further information: [5]www.kapsch.[6]net Follow us on LinkedIn
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19.11.2025 CET/CEST This Corporate News was distributed by [7]EQS Group
View original content: [8]EQS News
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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: 2231794
End of News EQS News Service
2231794 19.11.2025 CET/CEST
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