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Kapsch TrafficCom
Investor Relations

ISIN: AT000KAPSCH9
Stock exchange symbol: KTCG
Reuters: KTCG.VI
Bloomberg: KTCG AV

What Kapsch TrafficCom stands for.

  • more than 125 years of experience in the technology industry
  • customized solutions for a wide range of requirements
  • in-depth and comprehensive domain know-how
  • a global presence and strong position in core markets

The share price at a glance.

Intraday

Key dates at a glance. 

  • August 17, 2022; Results Q1 2022/23
  • August 28, 2022; Record Date: Annual General Meeting
  • September 7, 2022; Annual General Meeting
  • November 16, 2022; Results H1 2022/23
  • February 22, 2023; Results Q1-Q3 2022/23

Investor Relations Releases

  • 15. June 2022
    Kapsch TrafficCom – 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 holders -102.9 -9.3 +91% 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. Segment 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. Segment Traffic Management. (Unless otherwise stated, all values in EUR million) 2020/21 2021/22 +/- Revenues 147.0 149.9 +2.0% 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. (CEST), at: www.kapsch.net/en/ktc/IR

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  • 25. March 2022
    Arbitral tribunal affirms the claim for compensation of the joint venture of Kapsch TrafficCom and CTS EVENTIM against the Federal Republic of Germany

    Vienna, March 25, 2022 – According to the decision of the competent arbitral tribunal, autoTicket   GmbH is entitled to damages and reimbursement of expenses against the Federal Republic of Germany. This is apparent from the interim arbitral award delivered to the contractor parties today. Following the termination of the operating agreement for the collection of the infrastructure charge ("passenger car toll") in Germany, autoTicket GmbH, the joint venture of Kapsch TrafficCom AG and CTS Eventim AG Co. KGaA, has asserted claims for compensation in the amount of approximately EUR 560 million against the Federal Republic of Germany. The arbitral tribunal confirmed that the claims asserted by autoTicket GmbH in the arbitration proceedings for compensation of the gross enterprise value and for reimbursement of the costs incurred in the execution of the operating agreement exist on the merits. Accordingly, the Federal Republic of Germany, represented by the German Federal Ministry of Transport and Digital Infrastructure, was not allowed to unilaterally withdraw from the contract without compensation. The arbitral award also rejected poor performance, as alleged by the Federal Republic of Germany, as a reason for termination. The first phase of the two-stage arbitral proceedings has thus been concluded. In the second phase of the arbitral proceedings that now follows, a decision is made on the amount of the claim.

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  • 23. February 2022
    Kapsch TrafficCom – Results for the first three quarters of 2021/22.

    Highlights. Return to positive EBIT with lower revenues Cost-cutting and restructuring measures taking effect. Low new business momentum continues to impact revenues   Positive free cash flow Outlook for financial year 2021/22: Revenue growth and EBIT turnaround „Even though results are significantly better than in the previous year, we are still nowhere near the level we were and need to be at. We are working intensively to implement new business areas in line with our Strategy 2027 and to better exploit the potential of our current core business. At the same time, the aim is to sustainably increase efficiency “, says Georg Kapsch, CEO of Kapsch TrafficCom. Unless otherwise stated, all values in EUR million Q1-Q3 2020/21 Q1-Q3 2021/22 +/- Revenues 384.5 379.2 -1.4% EBIT -89.0 5.8 n.a.    EBIT margin -23.1% 1.5% +24.7   PP Result for the period attributable to equity holders -78.3 -2.5 +96.9 % Earnings per share (EUR) -6.03 -0.19 € +5.84 Vienna, February 23, 2022 – After three quarters in a persistently difficult market environment, Kapsch TrafficCom succeeded in achieving a positive operating result (EBIT) of EUR 6 million (previous year: EUR -89 million). Revenues of EUR 379 million were 1 % below the previous year's level. Earnings attributable to shareholders amounted to EUR -2 million (previous year: EUR -78 million), corresponding to earnings per share of EUR -0.19 (previous year: EUR -6.03). The lower sales for the period were mainly due to the 20% decline in the implementation business. The operations business, on the other hand, increased by 12%, mainly due to projects in South Africa and Bulgaria. The components business continued to suffer from supply chain bottlenecks and declined by 2%. Kapsch TrafficCom achieved a significant reduction of its cost base through restructuring and cost saving measures. This related in particular to material, personnel and other operating expenses. Special effects burdened EBIT in the amount of EUR -16 million (previous year: EUR -90 million). The financial result amounted to EUR -4 million (previous year: EUR -10 million). Tax expenses amounted to EUR 1 million (previous year: tax income of EUR 19 million). The result for the period attributable to shareholders amounted to EUR -2 million (previous year: EUR -78 million), which corresponds to earnings per share of EUR -0.19 (previous year: EUR -6.03). Free cash flow amounted to EUR 9 million in the first three quarters of 2021/22 (previous year: EUR 1 million). Therefore, net debt decreased to EUR -163 million since the last reporting date (March 31, 2021: EUR -170 million). The gearing increased slightly from 200% to 202%. The partial repayments of the promissory note bond and a bank loan from equity had a balance sheet-reducing effect in the first quarter. Total assets amounted to EUR 530 million as of December 31, 2021 (March 31, 2021: EUR 593 million). The equity ratio increased from 14% to 15% in the first three quarters of 2021/22. Segment results for the first three quarters of 2021/22. 72% of revenues were generated by the tolling segment and 28% by the traffic management segment. 56% of revenues were generated in the Europe-Middle East-Africa (EMEA) region, 40% in the Americas region (North, Central and South America) and 4% the Asia-Pacific (APAC) region. Tolling segment. Sales decreased by 2% to EUR 273 million. Declines in the implementation business of 23% and in the components business of 2% were not offset by 10% higher revenues in the operations business. The EMEA region made the largest contribution to revenues with EUR 148 million. In total, this region recorded growth of 2%. In the Americas region, revenues declined by 6% to EUR 112 million. In the APAC region, revenues decreased by EUR 2 million to EUR 14 million. Results Tolling Unless otherwise stated, all values in EUR million Q1-Q3 2020/21 Q1-Q3 2021/22 +/- Revenues 279,6 273,1 -2,3 % EBIT -79,7 -0,6 +99,2 %    EBIT margin -28,5 % -0,2 % +28,3 PP EBIT was slightly negative at EUR -1 million (previous year: EUR -80 million). Segment Traffic Management. Revenues increased by 1% to EUR 106 million. This was due in particular to the operations business, which grew by 15%. The largest contribution to revenues was made by the EMEA region with EUR 64 million. In total, this region recorded an increase of 9%. In the Americas region, revenues declined by 10% to EUR 39 million, and in the APAC region, they remained constant at EUR 3 million. Results Traffic Management Unless otherwise stated, all values in EUR million H1 2020/21 H1 2021/22 +/- Umsatz 104,9 106,0 +1,1 % EBIT -9,3 6,5 n.a.    EBIT-Marge -8,9 % 6,1 % +15,0 PP EBIT was positive at EUR 7 million (previous year: EUR -9 million). The EBIT margin was 6% (previous year: ‑9%). Outlook. For the financial year 2021/22, management expects a year-on-year increase in revenues. However, the previously targeted +10% currently appears out of reach. As long as the market environment remains so challenging due to COVID and new business momentum does not increase, double-digit growth rates will be a challenge. Of course, the lower revenue expectation also affects profitability. However, Kapsch TrafficCom cannot further reduce the Group's cost base in the short term without the risk of not being able to take advantage of upcoming growth impulses due to a lack of resources. Thus, until revenues pick up again, the company is in a phase of low profitability. EBIT in financial year 2021/22 (including special items) is expected to be below the previously forecast 3% (but positive). The report on the first three quarters of 2021/22 are scheduled to be available today, from 7:35 a.m. (CET), at: www.kapsch.net/ktc/IR

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  • 18. November 2021
    Kapsch TrafficCom – Results for the first half of 2021/22

    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, all values in EUR million H1 2020/21 H1 2021/22 +/- Revenues 25.5 255.2 -0.9 % EBIT -57.8 10.6 >100 %    EBIT margin -22.5 % 4.2 % 26.6 PP Result for the period attributable to equity holders -54.0 3.0 >100 % Earnings per share (EUR) -4.15 0.23 € +4.38 Vienna, November   18, 2021 – 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. Tolling segment. Unless otherwise stated, all values in EUR million H1 2020/21 H1 2021/22 +/- Revenues 190.6 181.0 -5.0 % EBIT -52.1 1.3 >100 %    EBIT margin -27.3 % 0.7 % 28.1 PP 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.  Traffic Management segment. Unless otherwise stated, all values in EUR million H1 2020/21 H1 2021/22 +/- Revenues 66.9 74.1 +10.8 % EBIT -5.7 9.3 >100 %    EBIT margin -8.6 % 12.6 % 21.1 PP 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: www.kapsch.net/en/ktc/IR

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  • 20. October 2021
    COO André Laux to leave the Executive Board

    The Supervisory Board of Kapsch TrafficCom AG has mutually agreed with André Laux, Chief Operating Officer (COO) of the company, on an early termination of his mandate as a member of the Executive Board, which runs until 2024. Georg Kapsch (CEO) takes over the sales agendas from Mr. Laux and will thus be responsible for all sales regions. Andreas Hämmerle (CFO) is additionally responsible for supply chain management including manufacturing. With immediate effect, the Executive Board of Kapsch TrafficCom consists of Georg Kapsch (CEO), Andreas Hämmerle (CFO), and Alfredo Escribá (CTO).

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  • 11. August 2021
    Kapsch TrafficCom – Results for the first quarter 2021/22.

    Headlines. Return to profitability with lower revenues. Cost reduction and restructuring measures show an effect. Internally financed repayment of financing tranches led to a balance sheet reduction. Delays in tenders do not permit more precise information to be reported on the degree of profitability in H2 2021/22. „Following a difficult phase, we have managed to ring in a visible turnaround. Looking back on the last two years, I am convinced that the main restructuring measures are already behind us and that we will finish the 2021/22 financial year with a profit again“, says Georg Kapsch, CEO of Kapsch TrafficCom. Unless otherwise stated, all values in EUR million Q1 2020/21 Q1 2021/22 +/- Revenues 138.5 126.8 -8.4% EBIT -11.3 6.6 > 100%    EBIT margin -8.2% 5.2% 13.4%p Result for the period attributable to equity holders -10.0 3.2 > 100% Earnings per share (EUR) -0.77 0.24 > 100% Vienna, August 11, 2021 – Even though revenues of EUR 127 million were relatively low, we were able to conclude the first quarter with a profit. Operating result (earnings before interest and taxes, EBIT) achieved EUR 7 million (previous year: EUR ‑11 million), while the earnings attributable to the shareholders were EUR 3 million (previous year: EUR ‑10 million). This corresponds to earnings per share of EUR 0.24 (previous year: EUR ‑0.77). The financial result was EUR -2 million (Previous year: EUR -1 million). More than half of this was the result of unrealized foreign exchange losses. As arranged, partial repayments of the promissory note bond and a bank loan in the total amount of EUR 49 million were made in June. Since the company had managed to increase the cash reserves in the months prior, these repayments were made using own funds. This effect of this asset/liability exchange was to reduce the balance sheet. On June 30, 2021, the balance sheet total was EUR 552 million (March 31, 2021: EUR 593 million). The positive quarterly result and the lower balance sheet total made the equity ratio increase to 16% (March 31, 2021: 14%). The reduction in trade payables was the main reason for the negative free cash flow of EUR -11 million in the first quarter (previous year: EUR -27 million). Consequently, the net debt went up to EUR 181 million (March 31, 2021: EUR 170 million). As of June 30, Kapsch TrafficCom employed 4,538 people (March 31, 2021: 4,657). Segment results. In Q1 2021/22, the Tolling segment contributed 71% to the total revenues, and the Traffic Management segment 29%. 56% of revenues were generated in the Europe, Middle East, and Africa (EMEA) region, 40% in the Americas region (North, Central, and South America), and 5% in the Asia-Pacific region. Tolling segment. Unless otherwise stated, all values in EUR million Q1 2020/21 Q1 2021/22 +/- Revenues 106.0 89.6 -15.4% EBIT -8.9 3.1 > 100%    EBIT margin -8.4% 3.5% 11.9%p In Q1 2021/22, revenues in the Tolling segment amounted to EUR 90 million (-15%). EBIT reached EUR 3 million (previous year: EUR ‑9 million). EBIT margin was at 4% (previous year: -8%). Kapsch TrafficCom sold 2.0 million on-board units in the first quarter 2021/22 (previous year: 2.9 million). Traffic Management segment. Unless otherwise stated, all values in EUR million Q1 2020/21 Q1 2021/22 +/- Revenues 32.5 37.2 14.4% EBIT -2.5 3.4 > 100%    EBIT margin -7.6% 9.2% 16.8%p In Q1 2021/22, revenues in the Traffic Management segment amounted to EUR 37 million (+14%). EBIT was at EUR 3 million and thus better than the figure of the previous year (EUR ‑2 million). The highlights report of the first quarter 2020/21 as well as further materials will be available at www.kapsch.net/en/ktc/IR from today, not before 7:35 a.m. (CEST).

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  • 12. July 2021
    Kapsch Group to restructure.

    Family business prepares for generational change Vienna, July 12, 2021 – The global technology company Kapsch Group is set to restructure: Kapsch Group is being repositioned for the next generation of the entrepreneurial family. Kapsch Group can look back on a history of almost 130 years. Since its founding, Kapsch is always a family-run company – currently in its fourth generation. Its success is based primarily on the personal commitment of the entrepreneurial family, the resulting corporate culture and the fact that the Group has continuously developed and reinvented itself over all these years. With an eye on the next generation of the Kapsch family and to be able to ensure later a smooth transition to the next generation in due course, it is planned to restructure the Group. Kapsch Group will now focus on the companies Kapsch Aktiengesellschaft and Kapsch TrafficCom. Kapsch Group will be assigned to the sphere of influence of Elisabeth Kapsch and Georg Kapsch and will remain under the leadership of Georg Kapsch as CEO as before. The direct shareholdings of KAPSCH-Group Beteiligungs GmbH in Kapsch TrafficCom AG and the management thereof by Georg Kapsch will not change as a result. Kapsch BusinessCom will leave Kapsch Group together with Kari Kapsch. Kari Kapsch will remain chairman of the supervisory board of Kapsch BusinessCom and the management board will also remain unchanged with Franz Semmernegg and Jochen Borenich. It is planned that Invest Unternehmensbeteiligungs Aktiengesellschaft will join Kapsch BusinessCom as a new partner to support the further expansion of Kapsch BusinessCom. The reorganization of Kapsch Group has recently been initiated. As things progress, regulatory approvals will still be required and completion is expected in a few months. The restructuring process will have no impact on the employees and customers of Kapsch TrafficCom, Kapsch Aktiengesellschaft and Kapsch BusinessCom.

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  • 16. June 2021
    Kapsch TrafficCom – Results for financial year 2020/21.

    Highlights. The slightly more than 30% decline in revenues was evenly spread across all the regions EBIT of EUR -123 million The cost reduction and restructuring measures were effective: Despite a free cash flow of EUR -27 million in the first quarter, a positive value of EUR 4 million was achieved over the financial year No dividend (as in the previous year) for the financial year 2020/21 “2020/21 was a very difficult year, and not only due to the COVID-19 situation. We had to restructure the company to be sustainably profitable again in the future. After two negative years, the 2021/22 financial year should be a period of stabilization and solidification,” says Georg Kapsch, CEO of Kapsch TrafficCom.  (Unless otherwise stated, all values in EUR million) 2019/20 2020/21 +/- Revenues 731.2 505.2 -30.9% EBIT -39.2 -123.2 -214.4%    EBIT margin -5.4% -24.4% -19%p Result for the period attributable to equity holders -48.1 -102.9 -113.7% Earnings per share (EUR) -3.70 -7.91 -113.7% Vienna, June 16, 2021 – In financial year 2020/21, revenues of Kapsch TrafficCom decreased to EUR 505 million, which was 31% (EUR 226 million) lower than the previous year’s figure. The slightly more than 30% decline in revenues was evenly spread across all the regions. Consolidated revenues are broken down geographically as follows: EMEA region (Europe, Middle East, Africa): 55% Americas region (North America, Central America, South America): 41% APAC region (Asia-Pacific): 5% The operating result (EBIT) was negative at EUR 123.2 million (previous year: EUR -39.2 million). The following effects were the main drivers of this: Impairments of non-current assets as described (EUR -31 million). Adjustments of project margins and provisions for onerous contracts: for some projects, especially in North America, the project margins were adjusted and provisions for pending losses had to be set up. This had a negative impact of EUR 79 million on the EBIT. Impact of COVID-19: revenues from the profitable component segment suffered severely as a result of decreased transportation volume. Operating currency effects: the operating currency effects (net) were negative at EUR 8 million (previous year: EUR 0 million Cost provisions for lawsuits in the U.S. in the amount of EUR 8 million. Restructuring costs in the amount of EUR 5 million. The financial result amounted to EUR -10 million and was EUR 14 million better than in the previous year. Foreign currency losses fell by EUR 7 million to EUR -2.0 million. Previous year’s value included the write-down of a financial asset, which has been sold in the meantime. Income taxes amounted to EUR +28 million (previous year: EUR +8 million). The result for the period was very negative at EUR -105 million (previous year: EUR -56 million). A result for the period of EUR -103 million was attributable to the equity holders of the company. This corresponds to earnings per share of EUR -7.91 (previous year: EUR -3.70). Net debt reached EUR 170 million (March 31, 2020: EUR 176 million), which equates to a gearing of 200% (March 31, 2020: 96%). The net debt was similar to the previous year. Since equity fell significantly, however, the gearing increased substantially. The reduction of the net working capital to EUR 110 million (March 31, 2020: EUR 168 million) was the basis for the positive free cash flow of EUR 4 million.. The Executive Board, as already discussed, will not propose a dividend payout for the loss year of 2020/21 at the Ordinary Annual General Meeting 2021. A distribution also appears unlikely for the following financial year. Segment results. In financial year 2020/21, the Tolling segment contributed 71% to total revenues, the Traffic Management segment 29%.  Segment Tolling. (Unless otherwise stated, all values in EUR million) 2019/20 2020/21 +/- Revenues 563.5 358.2 -36.4% EBIT 1.5 -117.2 > -100%    EBIT margin 0.3% -32.7% -33%p The implementation business in particular suffered from the COVID-19 situation, collapsing by 54%. The components business lost approximately 35%, while the operating business “only” lost 20%. The operating result totaled EUR -117 million (previous year: EUR 1 million). The main reasons consisted of the margin adjustment and the creation of provisions for onerous contracts. Im financial year 2020/21, 9.9 million on-board units were sold, a decline of 3.3 million relative to the previous year.  Segment Traffic Management. (Unless otherwise stated, all values in EUR million) 2019/20 2020/21 +/- Revenues 167.7 147.0 -12.4% EBIT -40.7 -6.0 85.4%    EBIT margin -24.2% -4.1% 20.2%p In financial year 2020/21 revenues in the Traffic Management segment reached EUR 147 Mio. (-12%). While revenues in the EMEA region remained at the previous year’s level, they fell by 21% in the Americas region and by 57% in the APAC region. The EBIT in the financial year was EUR ‑6 million and therefore substantially better than in the previous year (EUR -41 million). Outlook. After two negative years with extensive restructuring, financial year 2021/22 should be a period of stabilization and solidification until a dynamic course of growth is pursued again. A decent growth in revenues should be assumed despite the ongoing low visibility in regards to new business. The implemented measures to reduce the cost basis should show success and make the EBIT positive again. In this context, follow-up effects and additional expenses in connection with the restructuring must be expected in particular in Q1 2021/22. For the full year, management expects an EBIT margin in the lower single-digit percentage range. The Executive Board, as already discussed, will not propose a dividend payout for the loss year of 2020/21 at the AGM 2021. A distribution also appears unlikely for the following financial year due to the planned investments in the context of the implementation of the Strategy 2027. In order to protect the company’s capital base against unanticipated developments, the Executive Board of the forthcoming AGM will propose that authorization for a capital increase be granted. This anticipatory resolution for a capital increase should make it possible to raise the share capital by up to 1.3 million shares, which equates to 10%. Various reports on the financial year 2020/21 as well as further materials will be available at www.kapsch.net/en/ktc/IR from today at 7:35 am (CEST).

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  • 27. May 2021
    Hämmerle will join Executive Board on July 1, 2021

    Management Changes/Personnel Andreas Hämmerle will join the Executive Board of Kapsch TrafficCom as Chief Financial Officer (CFO) with effect from July 1, 2021. He currently holds the position of Executive Vice President Finance at the company. Commenting on the appointment, Georg Kapsch, Chief Executive Officer of Kapsch TrafficCom says: “I would like to congratulate Andreas Hämmerle and welcome him as a new colleague in the Executive Board. He is an experienced executive leader who had an important role in navigating Kapsch TrafficCom through a transformation phase and who strongly contributed to achieving substantial improvements of our financial situation. I am confident that with his extensive experience and knowledge specifically in finance the company is well prepared for the future.“ Andreas Hämmerle: ”I feel honored and excited to take up my new role as Chief Financial Officer at Kapsch TrafficCom. I am looking forward to working together with a great team and I am confident that we will successfully write the next chapter of the company’s development.”   Hämmerle held various management and executive board positions before working for Kapsch TrafficCom. He has long-standing international experience in the branded products industry as well as the service and retail sectors. The main focus of his work has been on corporate development, change management, mergers & acquisition, restructuring, compliance and controlling in change situations.

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  • 16. April 2021
    Preliminary results for financial year 2020/21.

    10:47 CEST The financial year 2020/21 of Kapsch TrafficCom ended on March 31, 2021. Based on preliminary figures, the company expects revenues of about EUR 500 million. The operating result (EBIT) including negative special effects will be a loss of about EUR 124 million. The most relevant negative special effects account for an EBIT impact of about EUR 139 million and include: EUR -79 million: Adjustment of project margins and provisions for onerous contracts, particularly for projects in North America EUR -21 million: Goodwill impairment EUR -14 million: Provisions for restructurings EUR -8 million: Provision for lawsuit in the USA EUR -8 million: Currency effects EUR -6 million: Impairment of inventory EUR -3 million: Impairment of trade receivables Despite the significantly negative result, the equity ratio still amounts to about 14%. As of March 31, 2021, Kapsch TrafficCom held liquid funds in excess of EUR 100 million.

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  • 23. October 2020
    Impairments and adjustments of project margins weigh on earnings.

    15:20 CEST The main result is a EUR 21 million impairment of goodwill. In addition, for some projects in particular in North America, the project margin had to be adjusted and provisions for impending losses had to be made in the first half of the financial year. This had a negative impact on the operating result (EBIT) in the amount of EUR 32 million. In addition, negative currency effects reduced the EBIT by EUR 6 million. As a result of these effects, revenues will amount to about EUR 258 million and EBIT to about EUR -58 million in the first half of the 2020/21 financial year. Consequently, the company currently expects a negative EBIT in the higher two-digit area as well as a year-on-year fall of revenues of about 25% for financial year 2020/21.

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  • 2. October 2020
    Kapsch TrafficCom: revised outlook, no dividend for 2020/21.

    12:48 CEST Based on initial indications for the second quarter the company expects no improvement of the revenue and earnings situation compared to the first quarter of financial year 2020/21. Consequently, the operating result (EBIT) of the financial year will likely be clearly negative. A negative two-digit million value is expected. An important reason for this is COVID-19: Revenues in the profitable components business strongly suffer from decreased traffic volumes. In addition – in spite of some pleasing project wins – there are more delays in tender processes and the award of contracts. Catch-up effects in a relevant scale are expected not before the next financial year. Possible impairments of non-current assets cannot be ruled out for financial year 2020/21. For the annual revenues, precise forecasts are also still difficult. Currently the company assumes a decline of 15 to 20%. As a result of the expected clearly negative results, the current dividend policy is being suspended until further notice. No dividend shall be expected for financial year 2020/21.

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  • 10. September 2020
    Kapsch TrafficCom – Summary of the resolutions of the Annual General Meeting.

    Vienna, September 10, 2020 13:44 CEST  – Yesterday's Annual General Meeting of Kapsch TrafficCom AG passed the following resolutions: No dividend will be paid out for the 2019/20 financial year; the entire net retained profits will be carried forward to new account. Discharge of liability of the members of the Executive Board and the members of the Supervisory Board in office in financial year 2019/20. PwC Wirtschaftsprüfung GmbH, Vienna, appointed as auditor and Group auditor for financial year 2020/21. The remuneration policy for the members of the Executive Board and the members of the Supervisory Board was approved. The Articles of Association were adapted, to provide a basis for shareholders to be able to participate in any General Assembly also by way of remote participation and/or to cast their vote also by way of remote voting in the future; to include the option to hold Supervisory Board meetings by way of a qualified video conference/meeting by video conference. The requirement of attendance was reduced to three members of the Supervisory Board (previously three members elected by the Annual General Meeting).

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  • 24. July 2020
    Decrease in revenues and negative EBIT in Q1 2020/21. No dividend for financial year 2019/20.

    16:06 CEST Based on preliminary numbers, Kapsch TrafficCom expects first quarter 2020/21 revenues of about EUR 138 million (previous year: EUR 186 million) and an operating result (EBIT) of about EUR -11 million (previous year: EUR 5 million). As already communicated in the course of the presentation of the results for the financial year 2019/20, the management expects that the challenges (and the respective costs) regarding the personnel shortage in North America will presumably last until the end of 2020. Furthermore, the management assumes that additional expenses for the implementation of new software will probably be incurred up to the first half of the year. These negative factors have turned out to be much more severe than expected, as the yet available results for Q1 2020/21 show. The significantly lower revenues and earnings compared to the first quarter of the previous year are also a result of the expiry of major projects – operation of the nation-wide toll system in Czech Republic and implementation of a nation-wide toll system in Bulgaria – as well as of the tolling projects in Germany, which have been terminated in the meantime. Already a few weeks ago, Kapsch TrafficCom initiated a cost cutting and efficiency program comprising both short-term measures and sustainable measures. It is one aim of the program to mitigate the negative factors impacting the results of the current financial year. The final results for Q1 2020/21 will be published on August 12, 2020, as scheduled. Until then, impairment tests are performed, based on updated estimates, for various long-term assets (intangible assets including goodwill as well as property, plant and equipment). As a result of the international COVID-19-maeasures, the visibility regarding new business is still very low. Because of this and because of the weak results for the first quarter, the Executive Board decided to refrain from the initial dividend proposal (EUR 0.25 per share) and to propose no dividend to the ordinary Annual General Meeting on September 9, 2020.

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  • 20. April 2020
    Preliminary results of the financial year 2019/20 clearly below expectations; proposed dividend reduced.

    15:46 CEST The preliminary financial results for financial year 2019/20 show revenues of approximately EUR 731 million, hence, below guidance. The operating result (“EBIT”) is expected to come out at about EUR -38 million. Excluding one-off effects of about EUR -39 million, the expected EBIT would have been slightly positive. The one-off effects comprise: Impairments based on updated forecasts regarding the further business in Zambia (about EUR -27 million,) write-downs relating to the early termination of the German infrastructure charge projects (about EUR -7 million) as well as expenses to end the business activities of Streetline (about EUR -3 million) and regarding the ending of operations of the toll project in Czech Republic (about EUR -2 million). Other one-off effects (net) are expected to amount to EUR -1 million. In the operative business, significant additional costs for the challenging implementation of new software applications into existing customer systems caused major cost overruns. The negative share price development of a financial investment (15.4% stake in Q-Free ASA, Norway) had an impact of about EUR -6 million on the financial result. Furthermore, exchange rate turbulences towards the end of the financial year caused (almost exclusively unrealized) exchange rate losses of presumably about EUR -9 million. Due to the weak result for the period and as far as legally permissible, the Executive Board intends to propose a reduced dividend of presumably EUR 0.25 per share to the Annual General Meeting. For financial year 2020/21, the management expects the EBIT to be clearly positive again. Due to the current global situation (SARS-CoV-2), no concrete guidance can be given for the time being. Kapsch TrafficCom will announce the final results for the financial year 2019/20 on June 16, 2020.

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  • 9. March 2020
    Tender, which saw Kapsch TrafficCom as the best bidder, terminated.

    22:56 CET On November 15, 2019, Kapsch TrafficCom informed to be best bidder for a tolling project in the EMEA region (Europe, Middle East, Africa). It was the tender for the Gauteng province in South Africa. The total project volume over its six year lifetime should have exceeded EUR 400 million. Kapsch TrafficCom has been informed that the tender was terminated. From today’s perspective it is unforeseeable if and when this project will be tendered again. The existing tolling contract scheduled to end on December 2, 2019 has already been extended for an additional year.

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  • 12. February 2020
    Kapsch TrafficCom reports weak EBIT for Q1-Q3 2019/20. No outlook for the EBIT of the financial year.

    15:10 CET The operating result (EBIT) of Kapsch TrafficCom for the first three quarters of financial year 2019/20 amounts to EUR 7.7 million. This is about 77% below the EBIT in the comparable period of the previous year and includes one-off effects of EUR -10.6 million. Based on the weak earnings development, the company revokes without replacement the outlook for the EBIT of the financial year (EUR 35 million excluding one-off effects). The highlights of Q1-Q3 2019/20 will be published as planned on February 18, 2020.

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  • 20. December 2019
    Kapsch TrafficCom wins major project in the USA.

    17:33 CET Kapsch TrafficCom is supplier to Plenary Infrastructure Belle Chasse LLC, a consortium just awarded by the Louisiana Department of Transport and Development with the Belle Chasse Bridge & Tunnel Replacement Public-Private Partnership Project. Kapsch TrafficCom will provide the consortium with tolling technology and operate and maintain the toll system. Implementation activities are scheduled to commence in 2023 followed by 30 years of technical and commercial operations. The project volume for Kapsch TrafficCom is estimated to be more than 100M USD over the 30 year term. The overall project entails the building of a four-lane bridge to replace the current traffic infrastructure (a bridge and a tunnel). The newly constructed bridge includes a modern all-electronic tolling technology (which does not require toll booths), as part of the first Private, Public, Partnership (P3) project in the state. The awarded consortium will recoup its investment through tolls paid by motorists using the new bridge. The project is scheduled to start in January 2020 and has a total term of approximately 34 years, just over 4 years to build the bridge and 30 years of operations and maintenance.

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  • 19. December 2019
    Joint Venture of Kapsch TrafficCom and CTS EVENTIM quantifies its claims against the Federal Republic of Germany to approx. EUR 560 millions.

    Munich/Vienna, 19 December 2019  – autoTicket GmbH is the project company for the implementation of infrastructure levies contemplated by the Federal Republic of Germany (tolling system for passenger vehicles – so-called “Pkw-Maut”). It is a 50/50 joint venture of Kapsch TrafficCom AG and CTS EVENTIM AG & Co. KGaA as shareholders. Following the unilateral termination of the operating agreement regarding the infrastructure levies with effect as of 30 September 2019 by the German Federal Ministry of Transport and Digital Infrastructure, autoTicket GmbH and its two shareholders decided today that the contractually agreed payment claims against the Federal Republic of Germany amount to a total of approx. EUR 560 millions and to assert claims in this amount in several steps now. autoTicket GmbH and its shareholders Kapsch TrafficCom AG and CTS EVENTIM AG & Co. KGaA are convinced that autoTicket GmbH has a compensation claim due to the present early termination of the agreement by the Federal Republic of Germany, equal to the loss of profits over the term of the agreement. In addition the operating agreement provides for a compensation of the costs arising from the termination of the agreement which includes compensation claims of subcontractors. Such subcontractors include – to varying degrees – Kapsch TrafficCom AG and CTS EVENTIM AG & Co. KGaA as well as some of their affiliated companies. The operating agreement provides for an efficient procedure for dispute resolution: First an independent auditor shall validate the amount of the asserted loss of profits. Thereafter, settlement negotiations with the Federal Republic of Germany are contemplated. In the event of failure of this procedure, the claim will be finally decided in arbitration.

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  • 15. November 2019
    Kapsch TrafficCom best bidder for a major project.

    Kapsch TrafficCom has been informed to be best bidder for a tolling project in the EMEA region (Europe, Middle East, Africa). Following a final due diligence, the end of the objection period and subject to successful negotiations with the customer, the project could be awarded within the upcoming three weeks. The total project volume over its six year lifetime is expected to exceed EUR 400 million. Kapsch TrafficCom will announce more details as soon as the contract is secured.

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