EANS-News

Kapsch TrafficCom / Results for financial year 2020/21

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Financial Figures/Balance Sheet/Annual Result

Vienna - Highlights.

* The slightly more than 30% decline in revenues was evenly spread across all
the regions
* EBIT of EUR -123 million
* The cost reduction and restructuring measures were effective: Despite a free
cash flow of EUR -27 million in the first quarter, a positive value of EUR 4
million was achieved over the financial year.
* No dividend (as in the previous year) for the 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, 2019/20 2020/21 +/-
all values in EUR million
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%


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:

* EMEA region (Europe, Middle East, Africa): 55%
* Americas region (North America, Central America, South America): 41%
* APAC region (Asia-Pacific): 5%


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:

* Impairments of non-current assets as described (EUR -31 million).
* Adjustments of project margins and provisions for onerous contracts: for some
projects, especially in North America, the project margins were adjusted and
provisions for pending losses had to be set up. This had a negative impact of
EUR 79 million on the EBIT.
* Impact of COVID-19: revenues from the profitable component segment suffered
severely as a result of decreased transportation volume.
* Operating currency effects: the operating currency effects (net) were negative