init again maintains revenues and earnings at a high level in the second year of the coronavirus crisis

Incoming orders at an historical high

• Incoming orders grow by over 15 per cent to around EUR 180m (previous year: EUR 155m)
• Revenues at around EUR 177m (forecast: EUR 180m)
• EBIT significantly over EUR 17m despite higher procurement costs (forecast: EUR 18-20m)

init innovation in traffic systems SE (ISIN DE 0005759807) maintained revenues and earnings at a high level in 2021 despite the general economic effects due to the pandemic, material shortages and price increases for intermediate products and energy. Based on provisional figures, the digitalisation specialist for buses and trains generated revenues of EUR 177m in the second year of the coronavirus crisis, thus almost hitting the target (EUR 180m). This is also true for EBIT, which is significantly above EUR 17m (forecast: EUR 18-20m).

"After the third quarter it was already clear that it would be a challenge to catch up in the fourth quarter to meet the lower range of the annual forecast. In the end, we fell only slightly short of the target. Nevertheless, in view of the negative effects caused by the pandemic on the procurement processes of our customers, and in some cases the major disruptions in global supply chains, we can be satisfied with the result. Our high inventory levels and multi-pillar procurement policy had a stabilising effect here. The fact that we were still able to set a new record for incoming orders underlines the future sustainability of our integrated solution and the numerous new products", stated the Managing Board in their first assessment of the past financial year.

Incoming orders in 2021 grew by over 15 per cent to around EUR 180m (previous year: EUR 155m). Especially noteworthy was the major order placed by METRO Houston, one of the first US customers, which has once again chosen init. Significant orders could also be won in the area of electromobility for public transport. The companies integrated into the group through acquisitions have also developed very positively.

"Our business continues to be driven by sustainable growth trends and worldwide efforts to reorganise transport systems. This is expected to result in an increasing number of tenders for digitalisation projects, for which we are well prepared as the international leading provider of integrated solutions for planning, dispatching, telematics and ticketing for buses and trains", according to the init Managing Board.

Europe and the global community are currently facing major challenges after Russia's invasion of Ukraine. It is not yet possible to foresee the economic consequences.

The Managing Board will present the complete annual report for 2021 and the forecast for the 2022 financial year at the virtual press and analyst conference on 24 March 2022.