Impairments and adjustments of project margins weigh on earnings.
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.
Kapsch TrafficCom is a globally renowned provider of transportation solutions for sustainable mobility. Innovative solutions in the application fields of tolling, tolling services, traffic management and demand management contribute to a healthy world without congestion.
Kapsch has brought projects to fruition in more than 50 countries around the globe. With one-stop solutions, the company covers the entire value chain of customers, from components to design and implementation to the operation of systems.
As part of the Kapsch Group and headquartered in Vienna, Kapsch TrafficCom has subsidiaries and branches in more than 30 countries. It has been listed in the Prime Market segment of the Vienna Stock Exchange since 2007 (ticker symbol: KTCG). In its 2019/20 financial year, around 5,100 employees generated revenues of EUR 731.2 million.