EQS-News

InTiCa Systems SE: Interim Report for 9M 2023 published – Significant rise in volatility and price pressure in recent months - Seite 2

Earnings, asset and financial position

Group sales declined by 5.1% year-on-year to EUR 67.5 million in the first nine months of 2023 (9M 2022: EUR 71.2 million). In the Automotive segment, sales dropped 12.6% year-on-year to EUR 47.7 million (9M 2022: EUR 54.6 million) while sales in the Industry & Infrastructure segment increased considerably, by 19.8%, to EUR 19.8 million (9M 2022: EUR 16.6 million).

At 62.4%, the ratio of material costs to total output in the reporting period was slightly below the prior-year level (9M 2022: 63.2%). Alongside optimization of production workflows, this was mainly due to a less material-intensive product mix. By contrast, the personnel expense ratio (including agency staff) increased significantly from 22.2% to 24.6% due to wage rises.

EBITDA (earnings before interest, taxes, depreciation and amortization) decreased to EUR 4.8 million (9M 2022: EUR 6.6 million), with the EBITDA margin amounting to 7.2% (9M 2022: 9.3%). At EUR 0.3 million, EBIT (earnings before interest and taxes) remained positive (9M 2022: EUR 2.1 million), giving an EBIT margin of 0.5% (9M 2022: 3.0%). At segment level, Automotive reported EBIT of minus EUR 0.7 million in the first nine months of 2023 (9M 2022: positive EBIT of EUR 1.8 million) and the Industry & Infrastructure segment reported EBIT of EUR 1.0 million (9M 2022: EUR 0.3 million).

The financial result was minus EUR 1.0 million in the reporting period (9M 2022: minus EUR 0.4 million), with the increased use of overdraft facilities and higher interest expenses both having an impact. Tax income of EUR 6 thousand was recorded in the reporting period (9M 2022: tax expense of EUR 0.5 million). Group net income therefore amounted to minus EUR 0.7 million in the first nine months (9M 2022: positive net income of EUR 1.2 million). Earnings per share were minus EUR 0.16 (9M 2022: EUR 0.28).

As a result of the negative interim result and the increase in receivables and inventories as of the reporting date, the cash flow from operating activities was negative in the first nine months of 2023. Due to continued investment activity, this applies to an even greater extent for the overall cash flow. The equity ratio slipped slightly in the reporting period but remains at a solid level.