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InTiCa Systems AG: InTiCa Systems AG publishes interim report for 9M 2020 - Corona pandemic overshadows sales and earnings but full order books indicate business is picking up - Seite 2

Since inventories of finished goods and work in progress decreased not as fast as in the prior-year period, the 5.2% decrease in total output to EUR 46.7 million (9M 2019: EUR 49.3 million) lagged the increase in sales. The ratio of material costs to total output was above the prior-year level at 60.2% in the reporting period (9M 2019: 58.5%), and the personnel expense ratio (including agency staff) also increased to 22.0% (9M 2019: 21.5%). At the same time, other expenses increased from EUR 7.1 million in the prior-year period to EUR 8.1 million. This was principally due to the sharp depreciation of the Czech koruna and Mexican peso at the start of the coronavirus pandemic, resulting in significant exchange losses, although these had no impact on the cash flow. Moreover, the expenses for agency staff, which are contained in other operating expense, decreased slightly year-on-year to EUR 2.3 million (9M 2019: EUR 2.4 million).

EBITDA (earnings before interest, taxes, depreciation and amortization) declined by 37.3% year-on-year to EUR 3.6 million (9M 2019: EUR 5.8 million) and the EBITDA margin fell to 7.8% (9M 2019: 11.4%). EBIT (earnings before interest and taxes) was negative at minus EUR 0.6 million, whereas in the first nine months of 2019 EBIT was positive at EUR 1.9 million. At segment level, Automotive Technology reported EBIT of minus EUR 0.6 million in the first nine months of 2020 (9M 2019: EUR 0.8 million) and the Industrial Electronics segment reported EBIT of minus EUR 0.04 million (9M 2019: EUR 1.2 million).

The financial result was minus EUR 0.5 million in the reporting period (9M 2019: minus EUR 0.5 million). In addition, tax income of EUR 7 thousand was registered in the first nine months of 2020 (9M 2019: tax expense of EUR 0.4 million). Overall, this resulted in a net loss of EUR 1.1 million in the first nine months of 2020 (9M 2019: EUR 1.0 million). Earnings per share were minus EUR 0.25 (9M 2019: EUR 0.23).

The operating cash flow was EUR 1.9 million in the first nine months of 2020, only slightly below the prior-year figure (9M 2019: EUR 2.1 million). Due to new long-term loans and lower capital expenditures, the company recorded a positive overall cash flow of EUR 4.1 million in the reporting period (9M 2019: outflow of EUR 2.3 million). The equity ratio declined to 28.6% in the reporting period (December 31, 2019: 32.5%).