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Kapsch
Press & Mediacenter

Press Contacts
Carolin Treichl

Executive Vice President Marketing & Communications
Kapsch TrafficCom AG
Am Europlatz 2, 1120 Vienna, Austria

+43 50 811 1710carolin.treichl@kapsch.net
Ingrid Riegler

Head of Corporate Communications
Kapsch TrafficCom AG
Am Europlatz 2, 1120 Vienna, Austria

+43 50 811 1724ingrid.riegler@kapsch.net
25. February 2020
City of Málaga and Kapsch sign agreement to test and develop latest demand and capacity management in urban traffic.

Vienna, February 25, 2020  – The cooperative agreement with Kapsch TrafficCom (Kapsch) will make Málaga the first city in Europe to test the latest dynamic signaling system and real-time traffic optimizer for the improvement of urban mobility. With a duration of two years and the possibility of two annual extensions, the pioneering projects will complement tests carried out in other European cities. "It is very satisfying for Málaga to be the first city in Europe to realise a project of this magnitude. The technology will optimise the city's traffic for the benefit of our citizens’ quality of life, resulting in less time in the car throughout their journey," said José Del Río, Málaga's Councillor for Mobility. "This project also reinforces Málaga's position as an urban laboratory for testing technological initiatives.” The main objective of the demand management project is to provide vehicle users with alternative routes, thereby reducing traffic saturation during peak periods or in the case of unforeseen events. Through a dynamic signaling system with variable message signs (VMS) and a new “virtual VMS” mobile application (developed by Kapsch), the most appropriate route advice will be displayed and indicated via audio in real-time to the driver of the vehicle when he arrives near a decision point. The system uses the information from the traffic light system for calculation and decision making to dynamically select the most recommended route in every situation. The development of the capacity management allows for the use of a real-time traffic optimizer, which dynamically modifies the duration of green areas on the route depending on the traffic conditions detected by the installed sensor system. "Public-private partnerships allow faster progress in the evaluation of innovative solutions for new mobility. The agreement we have signed enables the city of Málaga to be a showcase project for the use of demand and capacity management systems, which we will develop, implement and evaluate as part of a ground-breaking proof of concept in Europe", says Juan Marín, City Director Spain & Portugal Kapsch TrafficCom. The agreement does not provide for financial compensation by either party and will enable the City of Málaga, once the two developments have been implemented, to continue to include all the city's roads and receive free real-time information on the city's traffic situation through advanced navigation development. This will enable the city to offer citizens solutions to improve traffic and reduce emissions, as well as alternative routes for their journeys. Kapsch TrafficCom is a provider of intelligent transportation systems in the fields of tolling, traffic management, smart urban mobility, traffic safety and security, and connected vehicles. As a one-stop solutions provider, Kapsch TrafficCom offers end-to-end solutions covering the entire value creation chain of its customers, from components and design to the implementation and operation of systems. The mobility solutions supplied by Kapsch TrafficCom help make road traffic safer and more reliable, efficient, and comfortable in urban areas and on highways while helping to reduce pollution. Kapsch TrafficCom is an internationally renowned provider of intelligent transportation systems thanks to the many projects it has brought to successful fruition in more than 50 countries around the globe. As part of the Kapsch Group, Kapsch TrafficCom with headquarters in Vienna, has subsidiaries and branches in more than 30 countries. It has been listed in the Prime Market of the Vienna Stock Exchange since 2007 (ticker symbol: KTCG). Kapsch TrafficCom‘s about 5,000 employees generated revenues of EUR 738 million in fiscal year 2018/19.

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18. February 2020
Kapsch TrafficCom – Results for the first three quarters of 2019/20.

Highlights. Revenues increased to EUR 545.5 million (+2%). EBIT dropped to EUR 7.7 million (previous year: EUR 33.6 million). One-off effects of EUR 10.6 million weigh on the EBIT. “The results have not met my expectations or what we have aimed for. We are currently experiencing a certain amount of upheaval as we move into a new phase of expansion. The business model is being extended in a way to address both existing and new customer groups with innovative solutions. The necessary investments have a direct influence on our profit and loss statement as we do not capitalize much. We will continue working purposefully. As soon as we have succeeded in rebuilding a solid staffing level in North America and recovered the usual high productivity we are accustomed to, as well as overcome the challenges in Africa, we will be able to enjoy profitable growth again,“ says Georg Kapsch, CEO of Kapsch TrafficCom. Unless otherwise stated, all values in EUR million Q1-Q3 2018/19 Q1-Q3 2019/20 +/- Revenues 533.1  545.5 +2.3 % EBIT 33.6  7.7 -77.2 % EBIT margin 6.3 %  1.4 % -4.9 %p Profit for the period 21.9 0.2 -99.3 % Earnings per share (EUR) 1.77 0.14 -91.9 % Vienna, February 18, 2020  – Kapsch TrafficCom was able to increase the revenues of the first three quarters 2019/20 to EUR 545.5 million (+2.3%). Growth in the Americas region (North, Central and South America) was particularly noteworthy (+23.2%). The operating result (EBIT) reached EUR 7.7 million (-77.2%), corresponding to an EBIT margin of 1.4% (previous year: 6.3%). EUR 10.6 million of one-off effects weighed on the EBIT: EUR 5.9 million related to the German infrastructure charge topic, EUR 2.3 million to the ending of operations of the nation-wide toll system in Czech Republic, and EUR 2.4 to end Streetline’s business activities (smart on-street parking solutions). The lower profitability has to do with the growth of the North American business, among others. It has turned out to be more difficult than expected to recruit a sufficient number of new employees. In the first nine months of the year, we adopted a new recruiting strategy and were able to increase the number of employees in the USA (excluding the smart parking subsidiary Streetline) by around 110 to a total of 753. It should not be forgotten that the many new employees must often be trained by experienced colleagues. This means that productivity will fall and costs increase before it is possible to achieve the full potential of the expanded team. This must be partly compensated by outsourcing. It is therefore understandable that profitability of the Group will suffer temporarily. This situation will likely continue until well into financial year 2020/21. The number of employees should then reach a stable level and continue to grow at a “healthy” rate. In Zambia, regulatory issues persist. To limit the risk, Kapsch TrafficCom reduced its activities to a minimum a while ago. Kapsch TrafficCom is not aware of any company that has been able to demonstrate a sustainable and profitable business model in the area of smart on-street parking and curb management. This also applies to the Group company Streetline. Therefore, the management has decided to end the business activities of this company. The financial result of EUR -5.2 million was EUR 2.9 million below the previous year’s figure. The latter included a positive one-off effect in the amount of EUR 5.1 million from the sale of the stake in ParkJockey. The profit for the period amounted to EUR 0.2 million (previous year: EUR 21.9 million), which corresponds to earnings per share of EUR 0.14 (previous year: EUR 1.77). At EUR -19.8 million, free cash flow was much better than in the comparative period of the previous year (EUR -27.7 million). Net debt increased to EUR 190.2 million (March 31, 2019: net debt of EUR 73.5 million). Without the initial application of IFRS 16, it would have been EUR 125.2 million. The equity ratio was still satisfactory at 31.2% (March 31, 2019: 38.2%). The departure of the United Kingdom from the EU (Brexit), which has now actually taken place, should have no significant impact on results for Kapsch TrafficCom, as the local revenues there are in the single-digit million range. Segment results. In the first three quarters of 2019/20, 77.0% of revenue was generated by the ETC segment and 23.0% by the IMS segment. 56.2% of revenue was generated in the Europe, Middle East, and Africa (EMEA) region, 39.4% in the Americas region (North, Central, and South America), and 4.4% in the Asia-Pacific (APAC) region. ETC (Electronic toll collection). Unless otherwise stated, all values in EUR million Q1-Q3 2018/19 Q1-Q3 2019/20 +/- Revenues 406.9  420.1 +3.2 % EBIT 40.3  7.6 -54.0 % EBIT margin 9.9 %  4.4 % -5.5 %p Revenues in the “Electronic Toll Collection” (ETC) segment saw an increase of 3.2% to EUR 420.1 million. The driver was growth in the Americas region (+31.9%). In the EMEA region, revenues fell by 3.7%. Growth in the areas of implementation and components were not able to compensate for the decline in the area of operations. In the APAC region, revenues came down from EUR 35.0 million to EUR 18.6 million. ETC EBIT was EUR 18.5 million (-54.0%). The EBIT margin reached 4.4% (previous year: 9.9%). IMS (Intelligent Mobility Solutions). Unless otherwise stated, all values in EUR million Q1-Q3 2018/19 Q1-Q3 2019/20 +/- Revenues 126.1  125.3 -0.6 % EBIT -6.7  -10.9 -61.6 % EBIT margin -5.3 %  -8.7 % -3.3 %p In the first three quarters of 2019/20, segment revenues reached EUR 125.3 million (-0.6%). Revenues grew by 3.1% in the Americas and fell by 8.2% in the EMEA. In the APAC region, Kapsch TrafficCom increased IMS revenues strongly, starting from a low level. The IMS EBIT was EUR -10.9 million and thus below the value of the previous year (EUR -6.7 million). The highlights report of the first three quarters 2019/20 as well as further materials will be available at www.kapsch.net/ktc/ir/downloadcenter .

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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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7. January 2020
Federal Court Affirmatively Dismisses All Neology Claims of Patent Infringement Against Kapsch to Open 6C Tolling Standard.

Vienna, January 7, 2020  – Kapsch TrafficCom (Kapsch) is pleased to report the United States District Court in Delaware has dismissed with prejudice Neology, Inc. (Neology)’s outstanding patent infringement-related claims against Kapsch. The dismissal is an important victory for the electronic tolling industry as a whole, and confirms that Kapsch does not violate any Neology patent assertions by importing, marketing, or selling electronic tolling products using the ISO/IEC 18000-6C communications protocol (“6C Standard”). The invalidity of these patent claims was previously upheld by the United States Patent and Trademark Office (USPTO), the International Trade Commission, and the United States Court of Appeals for the Federal Circuit. The dismissal effectively confirms 6C as an open, non-proprietary standard available for use across the tolling industry. Kapsch has been a firm proponent of open standards to facilitate national electronic tolling interoperability, having released its Open Standard Time Division Multiplexing (TDM) specification to the public in 2013 to give access to developers working with the highly reliable and thoroughly tested TDM specification. The TDM protocol is currently utilized by the E-ZPass® Group, the largest interoperable tolling network in the country. “We accept Neology’s action to dismiss its patent claims, and maintain our long-standing commitment to open standards and fair competition in electronic tolling going forward,” said Chris Murray, president of Kapsch TrafficCom North America. “This resolution will facilitate the goal of national electronic tolling interoperability in the US by enabling access to organizations and individuals seeking to work with, market, and implement various toll technology specifications.” Open standard communication protocols are critical to meeting the goals of the U.S. Moving Ahead for Progress in the 21 st  Century Act (MAP-21), enacted in 2012, which mandates national agreement on tolling technologies and business practices to facilitate interoperability between tolling platforms. Kapsch TrafficCom is a provider of intelligent transportation systems in the fields of tolling, traffic management, smart urban mobility, traffic safety and security, and connected vehicles. As a one-stop solutions provider, Kapsch TrafficCom offers end-to-end solutions covering the entire value creation chain of its customers, from components and design to the implementation and operation of systems. The mobility solutions supplied by Kapsch TrafficCom help make road traffic safer and more reliable, efficient, and comfortable in urban areas and on highways while helping to reduce pollution. Kapsch TrafficCom is an internationally renowned provider of intelligent transportation systems thanks to the many projects it has brought to successful fruition in more than 50 countries around the globe. As part of the Kapsch Group, Kapsch TrafficCom with headquarters in Vienna, has subsidiaries and branches in more than 30 countries. It has been listed in the Prime Market of the Vienna Stock Exchange since 2007 (ticker symbol: KTCG). Kapsch TrafficCom‘s about 5,000 employees generated revenues of EUR 738 million in fiscal year 2018/19.

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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
Intelligent system for public transport management in Castellón marks the end of a successful year for Kapsch TrafficCom in Spain.

Vienna, 19. December 2019  – Kapsch TrafficCom (Kapsch) has announced it is implementing an intelligent public transport system in the city of Castellón, in order to manage mobility more efficient. The project includes a mobile application to inform citizens in real time about timetables, permitted journeys or sanctions. In addition, barrier posts that block traffic from pedestrian zones in the old town will be replaced by a license plate recognition system. This makes it possible to recognise vehicle entrances and exits by automatic reading, the length of stay, and unauthorized journeys. The project has a budget of more than five million euros and will be executed over five years. Also included are permanent and portable gauging units that measure the speed of each vehicle and the intensity and occupation of lanes, with eleven access points to the city. Additionally, gauging units for bicycles and people will continuously transmit their analysis to a data centre. The contract also foresees a maintenance plan and technical support for the management, maintenance and operation of traffic control. Kapsch helps cities get smart. Throughout 2019, Kapsch's innovative strength has been reflected in numerous projects in the domestic market. These include the management of vehicle access control to Bilbao’s Old Town in a joint venture with Etra Norte, and in the city of Avilés, with similar projects in Pamplona, León, Palencia or Málaga. In addition, Kapsch has developed a project for the Madrid City Council involving the implementation of a smart mobility system, providing real time accurate data with the help of artificial vision cameras and big data techniques. This system is helping to improve traffic management in the city of Madrid, resulting in a better management of transport systems and infrastructures. In Vitoria, Donostia, La Coruña, Valladolid and Huelva, the Kapsch system EcoTrafiX™ has already been implemented. This tool collects, aggregates, archives and monitors various data sources in order to provide local technical management with a collective view of this data, obtaining an analysis for real-time management. Ceuta Ciudad Segura Award. In addition to the milestones achieved in 2019, the Ceuta Ciudad Segura solution implemented by Kapsch this year received the ASIS International Award. The SafeCity system will integrally manage data using a sophisticated camera system. The embedded tools can solve a variety of problems, such as precise knowledge of the real-time traffic situation through license plate recognition, early detection of forest fires through thermal imaging cameras, or the improvement of citizen security through facial recognition technology. "Smart Urban Mobility is one of the main strategic focuses for Kapsch in Spain. In 2019, the company has successfully continued to establish collaborative agreements with different public bodies with regards to the implementation of intelligent transport systems. This promotes efficient, safe and sustainable urban mobility. We have already implemented several important projects”, said Javier Aguirre, president of Kapsch TrafficCom for Spain and Portugal. Kapsch TrafficCom is a provider of intelligent transportation systems in the fields of tolling, traffic management, smart urban mobility, traffic safety and security, and connected vehicles. As a one-stop solutions provider, Kapsch TrafficCom offers end-to-end solutions covering the entire value creation chain of its customers, from components and design to the implementation and operation of systems. The mobility solutions supplied by Kapsch TrafficCom help make road traffic safer and more reliable, efficient, and comfortable in urban areas and on highways while helping to reduce pollution. Kapsch TrafficCom is an internationally renowned provider of intelligent transportation systems thanks to the many projects it has brought to successful fruition in more than 50 countries around the globe. As part of the Kapsch Group, Kapsch TrafficCom with headquarters in Vienna, has subsidiaries and branches in more than 30 countries. It has been listed in the Prime Market of the Vienna Stock Exchange since 2007 (ticker symbol: KTCG). Kapsch TrafficCom‘s about 5,000 employees generated revenues of EUR 738 million in fiscal year 2018/19.

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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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6. December 2019
Kapsch TrafficCom presents latest mobility solutions at Gulf Traffic Conference in Dubai.

Vienna, December 6, 2019  – Kapsch TrafficCom (Kapsch) will showcase the latest integrated mobility solutions in realistic scenarios at this year’s Gulf Traffic in Dubai. With proven expertise, Kapsch offers a broad scope in terms of highway and urban mobility management capabilities, tolling, V2X, MaaS, and a multi-modal back office. Kapsch highlights a new age of urban mobility. “As visitors to our stand at Gulf Traffic will learn, the convergence between traffic management and demand management systems has given cities and highways an effective combination of tools,” says Nathalie Leboucher, Kapsch TrafficCom’s Senior Vice President WEMENA. Kapsch has a clear message for delegates at Gulf Traffic – building sustainable urban mobility requires not just innovative solutions but also cooperation. As traffic management and demand management systems increasingly converge, closer, longer-term relationships are key to realizing mobility’s next great leap forward. Showcasing innovation at Gulf Traffic. Gulf Traffic is an annual platform for the most innovative thought-leaders to convene in high-level discussions on the future of traffic in the EMENA region, which takes place from 9 th to 11 th  December at the World Trade Centre in Dubai. With the spotlight on “Technology For Smarter Cities”, Kapsch experts will share their vision for the future of urban mobility and will provide answers to important questions on mobility solutions and multi-modal transport at Booth #H8.F30: Tolling & Weigh-In-Motion: Nuno Gusmao, Solution Consultant EMENA Traffic Management: Fahim Belrabi, Solution Consultant EMENA Urban Mobility Management: Luna Roger, Senior Product Manager Solution Center Traffic Connected Vehicles: Barbara Hollinger, Sales Enablement EMENA SC Traffic   Region – Sales: Mohammed Serroukh , VP Business Strategy Middle East Nathalie Leboucher , Senior Vice President Western Europe, Middle East & North Africa   Expert Speech at the ‘AI For Transportation’ conference: Mohammed Serroukh, VP Business Strategy Middle East: “Creating AI-powered virtual operators”      Monday, December 9, 15:10      More Information: www.gulftraffic.com/en/conference/ai-for-transportation.html Meet us at booth #H8.F30 #GulfTraffic to find out more. Kapsch TrafficCom is a provider of intelligent transportation systems in the fields of tolling, traffic management, smart urban mobility, traffic safety and security, and connected vehicles. As a one-stop solutions provider, Kapsch TrafficCom offers end-to-end solutions covering the entire value creation chain of its customers, from components and design to the implementation and operation of systems. The mobility solutions supplied by Kapsch TrafficCom help make road traffic safer and more reliable, efficient, and comfortable in urban areas and on highways while helping to reduce pollution. Kapsch TrafficCom is an internationally renowned provider of intelligent transportation systems thanks to the many projects it has brought to successful fruition in more than 50 countries around the globe. As part of the Kapsch Group, Kapsch TrafficCom with headquarters in Vienna, has subsidiaries and branches in more than 30 countries. It has been listed in the Prime Market of the Vienna Stock Exchange since 2007 (ticker symbol: KTCG). Kapsch TrafficCom‘s about 5,000 employees generated revenues of EUR 738 million in fiscal year 2018/19.

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20. November 2019
Results for the first half of 2019/20.

Highlights. Revenue continues to grow in both segments. The Americas region is growing very dynamically. Investments in growth (cost of materials and personnel expenses) are having a negative impact on profitability. EBIT includes one-off effects in connection with the termination of the German infrastructure charge and the toll project in the Czech Republic. “As in past financial years, we must also describe the first half of this year as mixed. While revenues were thoroughly positive, profitability was disappointing. If we take a closer look, there are good reasons for the decline in profits, so I am not worried at all, although I am not satisfied either“, says Georg Kapsch, CEO of Kapsch TrafficCom. Unless otherwise stated, all values in EUR million H1 2018/19 H1 2019/20 +/- Revenues 335.8  359.2 +7.0 % EBIT 17.8  8.8 -50.6 % EBIT margin 5.3 %  2.4 % -2.9 %p Profit for the period 8.4 2.3 -72.1 % Earnings per share (EUR) 0.70 0.18 -74.8 % Vienna, November 20, 2019  – The final earnings for the first half of the 2019/20 financial year published today by Kapsch TrafficCom hardly deviate from the anticipated revenues and operating result (EBIT) announced on October 14, 2019. We were able to continue positive revenue development: Revenues rose by 7.0% to EUR 359.2 million relative to the comparable period in the previous year, with both segments contributing towards this positive development. It was the Americas region (North, Central, and South America) that drove growth with +27.5%. EMEA revenue (Europe, Middle East, Africa) remained constant (+0.1%). In the smallest sales region, APAC (Asia-Pacific), revenue declined by 29.6%. Some implementation projects came to an end, and there were delays in the acceptance of components by customers. EBIT amounted to EUR 8.8 million (-50.6%), which corresponds to an EBIT margin of 2.4% (previous year: 5.3%). However, one-off effects must be taken into account here: In connection with the German infrastructure charge: Due to early termination the company had to write off contract initiation costs of EUR 4.2 million.   In connection with the toll project in the Czech Republic: The contract ends in the third quarter of the financial year. Since the employees will not be hired en bloc by the designated operator, the company has set up a provision of EUR 0.9 million for severance payments. Excluding these one-off effects, EBIT in the first half of the year would have been EUR 13.9 million (previous year: EUR 17.8 million). The main reasons for the lower profitability are investments in future growth, namely in the form of: Cost of material. The performance of the installation business – particularly in the ETC segment – in the first half of 2019/20 was very positive, although it required relatively high material investments (i.e. higher costs of materials). The newly installed systems must, however, be operated later on, which offers additional sales revenue potential for Kapsch TrafficCom.   Personnel expenses. Since business in North America has been growing rapidly, the company needed to hire actively in order to take full advantage of the available market potential. In the first half of the year, the number of colleagues in the USA (excluding the Smart Parking subsidiary Streetline) rose by around 70 to a total of 714. The financial result for the first half of the year was EUR -4.4 million; EUR 1.4 million better than the previous year’s figure. Tax expenses amounted to EUR 1.3 million (previous year: EUR 3.6 million). The profit for the period amounted to EUR 2.3 million (previous year: EUR 8.4 million), which corresponds to earnings per share of EUR 0.18 (previous year: EUR 0.70). The further increase in net working capital in the first half of 2019/20 is an important indicator of the sustained high dynamism in the area of implementation projects – in other words, a fundamentally positive development. The free cash flow of EUR -17.8 million (previous year: EUR -19.9 million) should also be valued from this point of view. Due to the negative free cash flow, the dividend payment (EUR -19.5 million) and, above all, the initial application of accounting standard IFRS 16 (EUR -49.2 million), net debt rose to EUR 169.0 million. (March 31, 2019: net debt of EUR 73.5 million). Despite everything, the equity ratio was satisfactory at 33.9% (March 31, 2019: 38.2%). Segment results. In the first half of 2019/20, 78.3% of revenue was generated by the ETC segment and 21.7% by the IMS segment. 57.5% of revenue was generated in the Europe, Middle East, and Africa (EMEA) region, 38.2% in the Americas region (North, Central, and South America), and 4.3% in the Asia-Pacific (APAC) region. ETC (Electronic toll collection). Unless otherwise stated, all values in EUR million H1 2018/19 H1 2019/20 +/- Revenues 262.1  281.2 +7.3 % EBIT 24.8  17.5 -29.5 % EBIT margin 9.5 %  6.2 % -3.2 %p In the first half of 2019/20, ETC revenue reached EUR 281.2 million (+7.3%). The implementation business grew particularly strongly in the Americas (+87.4%) and EMEA (+43.3%) regions. By contrast, revenues from the operation of toll systems decreased (9.1%), mainly due to the lower scope of service in Poland. After our (old) contract ended on November 2, 2018, Kapsch TrafficCom was contracted to support the operation of the toll system for another 27 months as of November 3, 2018. ETC EBIT was EUR 17.5 million (-29.5%). The EBIT margin reached 6.2% (previous year: 9.5%). In the first half of 2019/20, Kapsch TrafficCom sold 6.3 million on-board units (previous year: 6.8 million). Unit sales declined in the Americas regions – with a simultaneously higher-quality product mix – and APAC. There were shifts in the timing of orders there. IMS (Intelligent Mobility Solutions). Unless otherwise stated, all values in EUR million H1 2018/19 H1 2019/20 +/- Revenues 73.7  78.1 +5.9 % EBIT -7.01  -8.7 -23.9 % EBIT margin -9.5 %  -11.1 % -1.6 %p In the first half of 2019/20, segment revenue reached EUR 78.1 million (+5.9%). The critical factor here consisted of higher operating revenues in the Americas region and implementation revenues that rose strongly in the APAC region and were able to more than offset a decline in the EMEA region. The IMS EBIT was EUR -8.7 million and thus below the value of the previous year (EUR -7.0 million). Once again, the United Kingdom’s pending withdrawal from the EU (Brexit) should not have a significant impact on Kapsch TrafficCom's results. The company’s revenue there is in the single-digit millions. The report of the first half of 2019/20 as well as further materials will be available at www.kapsch.net/ktc/ir/downloadcenter .

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Kapsch TrafficCom Headquarters