DGAP-News: init innovation in traffic systems SE continues to set its sights on record target for the full financial year

- Revenues after nine months already reached EUR 112.8m (previous year: EUR 95.6m)- Earnings before interest and taxes (EBIT) increased to EUR 10.4m (previous year: EUR 3.5m)
- Order backlog amounts to EUR 162m at the end of September (previous year: EUR 157m)
- Operating cash flow multiplied to EUR 19.6m (previous year: EUR 2.2m)

After the third quarter, init innovation in traffic systems SE (ISIN DE 0005759807) continues to focus on the record revenue target set for 2019. Revenues exceeded for the first time the EUR 100m threshold at EUR 112.8m (previous year: EUR 95.6m), already after the first nine months of the financial year. The continuing growth trend is also reflected in the order situation. The order backlog at the end of September amounted to EUR 162m (previous year: EUR 157m). Incoming orders reached EUR 133m (previous year: EUR 137m). Therefore, the Managing Board confirms its forecast for the full financial year 2019, raised at the end of July, to between EUR 150m and 160m in revenues and around EUR 15m in EBIT.

Cash flow from operating activities increased particularly strongly. It multiplied in the first nine months compared with the previous year to EUR 19.6m (end of September 2018: EUR 2.2m). On the one hand, this is a reflection of the strong revenue development; on the other hand, it is the result of the measures initiated to optimise working capital.

At EUR 35.7m, quarterly revenues in Q3 remained at the good level of the previous year (EUR 36.3m). At EUR 2.4m in the third quarter, EBIT also reached the previous year's level.

However, over the nine-month period there was a substantial increase in EBIT to EUR 10.4m (previous year: EUR 3.5m). Consolidated net profit continued to rise, reaching EUR 6.8m at the end of September 2019 (previous year: EUR 2.0m), a multiple of the previous year's total of EUR 2.4m.