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PRESS RELEASE: InTiCa Systems AG: Interim Report for 3M 2021 published - Pent-up demand and new orders for serial production catalysts for the highest quarterly sales in the company's history

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DGAP-News: InTiCa Systems AG / Key word(s): Quarter Results
InTiCa Systems AG: Interim Report for 3M 2021 published - Pent-up demand and new orders for serial production catalysts
for the highest quarterly sales in the company's history
2021-05-20 / 08:00
The issuer is solely responsible for the content of this announcement.
InTiCa Systems AG: Interim Report for 3M 2021 published - Pent-up demand and new orders for serial production catalysts
for the highest quarterly sales in the company's history
57.5% rise in Group sales
EBIT margin improved to 4.7% (3M 2020: 3.1%)
High order backlog but uncertainties due to unsteadiness of supply chains and corona pandemic
Passau, May 20, 2021 - InTiCa Systems AG (Prime Standard, ISIN DE0005874846, ticker IS7) today published the interim
report for the first three months of 2021. Compared with the prior-year period, which was hardly affected by the
coronavirus pandemic, Group sales grew by an impressive 57.5% to almost EUR 29 million. At the same time, the operating
result more than doubled and the EBIT margin improved significantly to 4.7%.
"Following a strong end to 2020, the tailwind continued into the new financial year. Orders on hand, order call-offs
and capacity utilization remained high in the first three months of 2021 and were the catalysts for the highest
quarterly sales in the company's history. As well as some outstanding order call-offs from the previous year, the
positive development in the first quarter was driven chiefly by a rise in new orders for serial production and samples.
In response to the increase in applications for our products and the increasing industrialization of the Group, in the
reporting period we decided to rename the Automotive Technology and Industrial Electronics segments "Automotive" and
"Industry & Infrastructure". This has not affected the allocation of Group sales between the segments", comments Dr.
Gregor Wasle, CEO of InTiCa Systems AG the business development.
Earnings, asset and financial position
Group sales increased by 57.5% year-on-year to EUR 28.8 million in the first three months of 2021 (3M 2020: EUR 18.3
million). In the Automotive (previously Automotive Technology) segment, sales rose 50.0% year-on-year to EUR 21.2
million (3M 2020: EUR 14.1 million) while sales in the Industry & Infrastructure (previously Industrial Electronics)
segment 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 clearly higher than in the previous year as a
consequence of a shift in the product mix towards more material-intensive products and tense supply chains, the
personnel expense ratio (including agency staff) dropped considerably from 22.9% to 19.0%.
EBITDA (earnings before interest, taxes, depreciation and amortization) increased by 38.1% to EUR 2.8 million (3M 2020:
EUR 2.0 million), with the EBITDA margin slightly below the previous year's level at 9.6% (3M 2020: 10.9%). EBIT
(earnings before interest and taxes) rose by 140.8% to EUR 1.3 million (3M 2020: EUR 0.6 million), so the EBIT margin
improved from 3.1% to 4.7%. At segment level, Automotive reported EBIT of EUR 0.9 million in the first three months of
2021 (3M 2020: EUR 0.4 million) and the Industry & Infrastructure segment reported EBIT of EUR 0.4 million (3M 2020:
EUR 0.2 million).
The financial result was minus EUR 0.1 million in the reporting period (3M 2020: minus EUR 0.2 million), and tax
expense was EUR 0.2 million (3M 2020: EUR 0.1 million). Group net income therefore amounted to EUR 1.0 million in the
first three months (3M 2020: EUR 0.3 million). Earnings per share were EUR 0.23 (3M 2020: EUR 0.08).
The cash flow from operating activities was also slightly positive in the first three months of 2021 at EUR 16 thousand
(3M 2020: minus EUR 22 thousand). Due to investments and scheduled repayments, the total cash flow in the reporting
period was negative at minus EUR 1.7 million (3M 2020: minus EUR 1.6 million). The equity ratio decreased slightly to
31.2% in the reporting period (December 31, 2020: 31.7%).
At the end of the first quarter of 2021, orders on hand were slightly above the very strong prior-year level at EUR
113.3 million (March 31, 2020: EUR 112.5 million). 80% of orders were for the Automotive segment (3M 2020: 76%). In the
reporting period, the volume of order call-offs was very high due to pent-up demand. Given the heightened uncertainty
about the development of the coronavirus pandemic, it is not possible to make a definitive assessment as to whether
orders will be called off customers on this scale in the remainder of the year.
"The series solutions already offered by InTiCa Systems add credibility to our mission of becoming a provider of
e-solutions technology. Both segments are benefiting equally from this. While e-mobility has long been a focus of
attention as a future technology, end-to-end electrification, digitalization and automation are now becoming more
significant for industry and infrastructure. The use of modern plastics technologies, advanced winding processes and
connection technologies, fully automated product tests and innovative assembly and automation technologies have given
us a solid foundation on which we can build through targeted investment in development, technology and manufacturing",
comments Günther Kneidinger, Member of the Management Board.
Taking into account the particular challenges of 2021 and assuming that the economic environment is stable and the
development of the pandemic is moderate, at the present time the Board of Directors still expects Group sales rise to
between EUR 85.0 million to EUR 100.0 million in 2021, while the EBIT margin should be between 3.5% and 4.5%. Depending
on the product portfolio, the material cost ratio should be optimized further in both segments and the equity ratio
should remain stable. However, uncertainty remains high and unforeseeable negative effects of the unsteadiness 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 meet expectations.
The complete interim report for 3M 2021 is available for download from the Investor Relations section of InTiCa
Systems' website at www.intica-systems.com.
InTiCa Systems AG
The Board of Directors
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:
InTiCa Systems is a European leader in the development, manufacture and commercialization of inductive components,
passive analogue switching technology and mechatronic assemblies. It operates in the Automotive Technology and
Industrial Technology segments and has about 950 employees at its sites in Passau (Germany), Prachatice (Czech
Republic) and Silao (Mexico).
The Automotive Technology segment focuses on innovative products that raise the comfort and safety of cars, improve the
performance of electric and hybrid vehicles and reduce carbon emissions. InTiCa Systems' Industrial Electronics segment
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 referring to the future development of InTiCa Systems AG 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.
2021-05-20 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de
Language: English
Company: InTiCa Systems AG
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 Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf,
Hamburg, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 1198436

End of News DGAP News Service

1198436 2021-05-20

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(END) Dow Jones Newswires

May 20, 2021 02:01 ET ( 06:01 GMT)

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