InTiCa Systems AG: Publication of the interim report for 3M 2021
DGAP-News: InTiCa Systems AG / Keyword (s): Quarterly results
20.05.2021 / 08:00
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InTiCa Systems AG: Release of Interim Report for 3M 2021 – Rising Demand and New Orders for Series Production Catalysts for Highest Quarterly Sales in Company History
57.5% increase in Group sales
EBIT margin improved to 4.7% (3M 2020: 3.1%)
High order book but uncertainties due to instability in supply chains and the corona pandemic
Passau, May 20, 2021 – InTiCa Systems AG (Prime Standard, ISIN DE0005874846, ticker IS7) today released the interim report for the first three months of 2021. Compared to the period of the previous year, little affected by the coronavirus pandemic, sales of the Group increased impressively 57.5% to nearly 29 million euros. At the same time, operating profit more than doubled and the EBIT margin improved significantly to 4.7%.
“After a solid end to 2020, the favorable wind continued for the new financial year. Open orders, reorders and capacity utilization remained high in the first three months of 2021 and were the catalyst for the highest quarterly sales in the company’s history. . In addition to a few exceptional order calls from the previous year, the positive development in the first quarter is mainly due to an increase in new orders for series production and samples. In response to the increase in demand for our products and the increasing industrialization of the Group, during the period under review, we have decided to rename the Automotive Technology and Industrial Electronics segments “Automotive” and “Industry & Infrastructure. “. This did not affect the distribution of Group sales between segments, “comments Dr. Gregor Wasle, CEO of InTiCa Systems AG, Business Development.
Profits, assets and financial position
Group sales increased 57.5% year-on-year to € 28.8 million in the first three months of 2021 (3M 2020: € 18.3 million). In the automotive segment (formerly Automotive Technology), sales increased 50.0% year-on-year to € 21.2 million (3M 2020: € 14.1 million) while Sales of the Industry and Infrastructure segment (formerly industrial electronics) increased by 83.6% to EUR 7.5 million (3M 2020: EUR 4.1 million).
While the ratio of material costs to total output at 64.8% was significantly higher than the previous year due to a shift in the product line towards more material-intensive products and production lines. Supply strained, the ratio of personnel expenses (including agency personnel) fell significantly from 22.9% to 19.0%.
EBITDA (earnings before interest, taxes and depreciation) increased by 38.1% to 2.8 million EUR (3M 2020: 2.0 million EUR), EBITDA margin slightly lower than the level of the previous year at 9.6% (3M 2020: 10.9%). EBIT (profit before interest and tax) increased by 140.8% to 1.3 million euros (3M 2020: 0.6 million euros), so that the EBIT margin increased from 3.1 % to 4.7%. At segment level, Automotive reported EBIT of 0.9 million euros in the first three months of 2021 (3M 2020: 0.4 million euros) and Industry & Infrastructure segment reported EBIT of 0.4 million euros (3M 2020: 0.2 million euros).
The financial result was minus 0.1 million euros during the period under review (3M 2020: minus 0.2 million euros) and the tax charge was 0.2 million euros (3M 2020: 0.1 million euros). The Group’s net income thus amounted to € 1.0 million over the first three months (3M 2020: € 0.3 million). Earnings per share were 0.23 EUR (3M 2020: 0.08 EUR).
Cash flow from operating activities was also slightly positive in the first three months of 2021 at € 16k (3M 2020: minus € 22k). Due to planned investments and repayments, the total cash flow for the period under review was negative at minus 1.7 million euros (3M 2020: minus 1.6 million euros). The equity ratio decreased slightly to 31.2% during the period under review (December 31, 2020: 31.7%).
At the end of the first quarter of 2021, open orders were slightly above the very high level of the previous year at 113.3 million euros (March 31, 2020: 112.5 million euros). 80% of orders were for the Automotive segment (3M 2020: 76%). During the period under review, the volume of order calls was very high due to pent-up demand. Given the increased uncertainty over the development of the coronavirus pandemic, it is not possible to make a definitive assessment as to whether orders will be canceled from customers on this scale in the remainder of the year.
“The off-the-shelf solutions already offered by InTiCa Systems add credibility to our mission to become an electronic solutions technology provider. Both segments also benefit. end-to-end electrification, digitization and automation are becoming increasingly important for industry and infrastructure. we can build through targeted investments in development, technology and manufacturing ”, comments Günther Kneidinger, member of the board of directors.
In view of the specific challenges of 2021 and in the event of a stable economic situation and a moderate evolution of the pandemic, the Board of Directors still expects the Group’s turnover to fall between 85 , 0 million euros and 100.0 million euros in 2021, while the EBIT margin is expected to be between 3.5% and 4.5%. Depending on the product portfolio, the material cost ratio should be further optimized in both segments and the equity ratio should remain stable. However, uncertainty remains high and the unpredictable negative effects of the instability of global supply chains as well as the pandemic could affect suppliers, have a direct impact on InTiCa Systems or affect its customers, resulting in an inability to respond to demands. expectations.
The full interim report for 3M 2021 can be downloaded from the Investor Relations section of the InTiCa Systems website at www.intica-systems.com.
InTiCa Systems AG
Board of directors
CONTACT Dr. Gregor Wasle | CEO
TEL +49 (0) 851 – 966 92 – 0
FAX +49 (0) 851 – 966 92 – 15
EMAIL [email protected]
About InTiCa systems:
InTiCa Systems is a European leader in the development, manufacture and marketing of inductive components, passive analog switching technology and mechatronic assemblies. It operates in the automotive technology and industrial technology segments and employs approximately 950 people at its sites in Passau (Germany), Prachatice (Czech Republic) and Silao (Mexico).
The automotive technology segment focuses on innovative products that improve the comfort and safety of cars, improve the performance of electric and hybrid vehicles, and reduce carbon emissions. The industrial electronics business of InTiCa Systems develops and manufactures mechatronic assemblies for the solar industry and other industrial applications.
Forward-looking statements and predictions
This press release contains statements and forecasts relating to the future development of InTiCa Systems AG which are based on current assumptions and estimates of management which are made on the basis of information currently available to it. If the underlying assumptions do not materialize, actual figures may differ materially from those estimates. Future developments and results actually depend on a large number of factors; they contain different risks and contingencies and are based on assumptions which may not be correct. We do not intend or assume any obligation to update any forward-looking statements on an ongoing basis, as they are based exclusively on the circumstances prevailing on the date of publication.
20.05.2021 Distribution of a Corporate News, transmitted by DGAP – a service of EQS Group AG.
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