EQS-News: InTiCa Systems SE: Interim Report for H1 2024 published – Sluggish business performance continued in the second quarter
Source: EQS
InTiCa Systems SE: Interim Report for H1 2024 published – Sluggish business performance continued in the second quarter Group sales amount to Mobility segment relatively stable, Industry & Infrastructure segment registers visible decline in sales Material cost ratio significantly reduced, EBIT margin of 1.1% (H1 2023: 1.0%)
„Unsatisfactory but not unexpected: that is probably the best way of summing up the past six months. Unsatisfactory, because a drop in sales of more than 10% is naturally not our goal. Nor are an EBIT margin of 1.1% and a loss for the period. That said, based on ongoing market developments, it was foreseeable that this would be a difficult year. High uncertainty and extreme volatility in order offtake – in the area of charging points, the European market for our products has slumped by 80% – makes planning of materials and warehousing more difficult, which in turn increases liquidity requirements and puts greater pressure on margins. This makes it all the more pleasing, that we even improved our gross margin and EBITDA margin thanks to continuous process optimization and a less material-intensive product mix“, comments Dr. Gregor Wasle, CEO of InTiCa Systems SE the business development. Earnings, asset and financial position Group sales declined by 13.1% year-on-year to At 54.3%, the ratio of material costs to total output in the reporting period was clearly below the prior-year level (H1 2023: 61.4%). Alongside optimization of production workflows, this was mainly due to a less material-intensive product mix. The personnel expense ratio (including agency staff) also decreased slightly from 25.0% to 24.5%. Contrary to declining sales, EBITDA (earnings before interest, taxes, depreciation and amortization) increased to The financial result was minus Although capital spending was reduced as planned, the total cash flow was clearly negative in the first six months of 2024. By contrast, the operating cash flow was only slightly negative despite the loss for the period and a significant closing-date-related increase in receivables. The equity ratio slipped slightly in the reporting period but remains at a solid level. Outlook The macroeconomic environment is still dominated by numerous risk factors. This is also reflected in orders on hand. At the end of the first six months, orders on hand were well below the prior-year level at „In the light of the continued changes in order offtake, optimizing liquidity and inventories has top priority for us at present. Measures discussed include modifying delivery terms, reducing the inventory buffer and implementing cost savings. Despite the negative sentiment, there have also been positive developments. In particular, demand in the new area of “Tailored Solutions” has developed very well. Since the beginning of August, the speciality product offer has been promoted by a separate micro-site on the At present, the Board of Directors still assumes that, taking into account the ongoing high uncertainty, Group sales will be between The complete interim report for H1 2024 is available for download from the Investor Relations section of InTiCa Systems’ website at www.intica-systems.com.
InTiCa Systems SE
CONTACT Dr. Gregor Wasle | CEO TEL +49 (0) 851 – 966 92 – 0 FAX +49 (0) 851 – 966 92 – 15 EMAIL investor.relations@intica-systems.com
About InTiCa Systems SE is an international provider of electronic components and systems. Its innovative solutions for the automotive industry, renewable energy, industrial applications and other sectors make a contribution to a more sustainable, networked future. You can find further information at www.intica-systems.com. Forward-looking statements and predictions This press release contains statements and forecasts referring to the future development of InTiCa Systems SE which are based on current assumptions and estimates by the management that are made using information currently available to them. If the underlying assumptions do not materialize, the actual figures may differ substantially from such estimates. Future developments and results are in fact dependent on a large number of factors; they contain different risks and imponderables and are based on assumptions that may not be accurate. We neither intend nor assume any obligation to update forward-looking statements on an ongoing basis as these are based exclusively on the circumstances prevailing on the date of publication.
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Language: | English |
Company: | InTiCa Systems SE |
Spitalhofstraße 94 | |
94032 Passau | |
Phone: | 0851 / 96692 0 |
Fax: | 0851 / 96692 15 |
E-mail: | investor.relations@intica-systems.com |
Internet: | www.intica-systems.com |
ISIN: | DE0005874846 |
WKN: | 587484 |
Listed: | Regulated Market in |
EQS News ID: | 1963545 |
End of News |
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1963545 08.08.2024 CET/CEST