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Announcements

12. July 2021
Kapsch Group to restructure.

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.

“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: 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: 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: 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.

In der gestern abgehaltenen ordentlichen Hauptversammlung von Kapsch TrafficCom AG wurden die folgenden Beschlüsse getroffen.

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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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