Specification of cash inflow and pro forma simulation of impact on financial indicators from settlement in Germany
Vienna, September 6, 2023 – Kapsch TrafficCom AG expects from today's perspective a cash inflow in the amount of EUR 99.5 million from the settlement in Germany.
As already published by ad hoc announcement on July 5, 2023, autoTicket GmbH, a joint venture of CTS Eventim AG Co. KGaA and Kapsch TrafficCom AG, which is held in equal shares, reached a settlement with the Federal Republic of Germany on that day to end the arbitration proceedings conducted due to the termination of the operations contract for the collection of the infrastructure charge ("passenger car toll"). autoTicket GmbH expected a payment in the amount of EUR 243 million as a result of this agreement. At that time, Kapsch TrafficCom AG expected an inflow of at least approximately EUR 80 million.
On July 25, 2023 Kapsch TrafficCom AG informed in a press release that the settlement agreement had by then been finalized, executed and became effective and that the arbitration proceedings had thus been completed. Kapsch TrafficCom AG also confirmed that the payment of the amount of EUR 243 million to autoTicket GmbH by the Federal Republic of Germany had already been effected.
A pro forma simulation of the impact of the cash inflow in the currently expected amount of EUR 99.5 million and the subsequent repayment of financial liabilities on the balance sheet as of the first quarter of financial year 2023/24 (as of June 30, 2023; published on August 17, 2023 – therefore under the fictitious assumption that the cash inflow and the repayment had already been effected as of June 30, 2023) shows in particular the following pro forma changes in the balance sheet as of June 30, 2023:
- Pro forma net debt decreases from EUR 208 million to EUR 130 million.
- Pro forma gearing ratio lowers from 491% to 130%.
- Pro forma total assets decrease by EUR 39 million to EUR 443 million.
- Pro forma equity ratio increases from 9% to 21%.
Further changes to the cash inflow and the impact on the financial indicators are possible and will be specified in the report on the first half of financial year 2023/24.
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 2022/23 financial year, about 4,000 employees generated revenues of EUR 553 million.