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EQS-News: init innovation in traffic systems SE / Key word(s): AGM/EGM
init SE anticipates another record year
2024-06-06 / 17:20 CET/CEST
The issuer is solely responsible for the content of this announcement.
. After winning two major contracts in the first quarter of 2024, order backlog grows to EUR 384m (previous
year: EUR 195m)
. Shareholders' meeting approves dividend increase to EUR 0.70 per share
. Managing Board member Dr. Jürgen Greschner and Chairman of the Supervisory Board Hans-Joachim Rühlig step
down
init innovation in traffic systems SE (ISIN DE 0005759807) expects another record year ahead and is forecasting growth
of 10 to 15 per cent in the coming years. As an indication, after winning two major contracts, the order intake swelled
to EUR 256.1m in the first quarter of 2024 (Q1 2023: EUR 69.5 m). At today's shareholders' meeting of the global leader
in digital transformation solutions for buses and trains, the shareholders applauded this growth trajectory. Proposals
for the appropriation of profits and an increase in the regular dividend to EUR 0.70 per share were also passed with a
large majority.
The Managing Board and Supervisory Board justified the proposed dividend with the solid profit generated by the company
in 2023 and the future prospects as a provider of integrated planning, dispatch, telematics and ticketing solutions for
public transport. At the end of the first quarter init's order backlog amounted to EUR 384m (previous year: EUR 195 m).
On this basis, the Managing Board anticipates double-digit growth in revenue to between EUR 240m and 260m (2023: EUR
211 m). EBIT should therefore amount to between EUR 24m and 28m (2023: EUR 21 m).
Megatrend towards sustainable investment drives init growth
"We are benefiting from the global megatrend towards sustainable investment in the digital transformation of the public
transport sector. As the recognised technology leader in this area, with a large and stable customer base, there is
also further up-selling and cross-selling potential for our software solutions and hardware components. We therefore
also see positive opportunities to increase our double-digit EBIT margin," said Dr. Gottfried Greschner in his report
to the shareholders.
For the shareholders, this is reflected not only in higher dividends, but also in a rapid rise in the price of init
stock, which has grown by more than 30 per cent in the last six months to today EUR 40.00. Analysts currently see
further growth potential for the share to reach beyond the EUR 50.00 mark. Dr. Gottfried Greschner and the CFO, Dr.
Marco Ferber's announcements were met with applause by the shareholders.
The shareholders also paid tribute to two people who have played a key role in the success of the company over the past
decades and who were attending the shareholders' meeting for the last time: Chief Sales Director and Deputy Chairman of
the Managing Board, Dr. Jürgen Greschner, and the Chairman of the Supervisory Board, Mr. Hans-Joachim Rühlig, both of
whom are stepping down from their respective board positions at their own volition.
"Dr. Jürgen Greschner has been responsible for sales since 2004 and has played a decisive role in the successful
internationalization of init. As Managing Director, he established INIT Innovations in Transportation, Inc. in the USA
in 1999, which is now one of the main pillars of our company. Most recently, under his leadership, init won the largest
single contract in its corporate history. Under Dr. Jürgen Greschner's leadership, init broke into the global market
and now has locations in 14 countries on 4 continents. We owe him a great debt of gratitude and are very happy that he
intends to remain actively involved in operations in a managerial position to assist the sales function," said Dr.
Gottfried Greschner in recognition of Dr. Jürgen Greschner's achievements.
init share price has more than doubled
Dr. Gottfried Greschner, init's founder, then moved on to thank Hans-Joachim Rühlig for his work on the Supervisory
Board. During Mr. Rühlig's term as Chairman of the Supervisory Board, many key strategic decisions were made which set
init on its successful trajectory, whose implementation he then constructively monitored. As examples, Greschner cited
the founding of new subsidiaries and corporate acquisitions such as the DResearch Fahrzeugelektronik Group, inola in
Austria and Mattersoft in Finland.
"Dear Hans-Joachim, I would like to thank you on behalf of the entire Managing Board and the shareholders represented
here today for your wonderfully collaborative work, your corporate governance input, your far-reaching vision for key
decisions and, most of all, your fantastic leadership of the Supervisory Board. In this time, init has more than
doubled its revenue, headcount and share price," concluded Greschner. "init innovation in traffic systems SE has become
a very stable stock with extraordinarily good growth perspectives. We intend to maintain this successful course in the
future."
Continued success with AI-based software
According to Gottfried Greschner, the increasing use of AI-based software is an important driver of this trend. "With
AI, public transport operators can generate substantial productivity and quality gains. At the same time, AI is helping
to make public transport safer, more efficient and more climate-friendly."
init has been using AI to optimise its processes for the planning and dispatching of transport fleets for many years
now. Among other things, this enables improved departure forecasts, optimal route planning and fast responses to
current events, such as accidents or traffic jams. In a pilot project led by init and Golden Gate Bridge, Highway and
Transportation District that was set up in the highly congested city of San Francisco, an AI-based software solution
significantly improved the reliability of departure forecasts from 49 per cent to 85 per cent. Another area of
application is the analysis and forecasting of vehicle occupancy rates to provide passengers with better information,
via apps on their smartphones, for example.
MOBILE-FLEX from init, an integrated booking, dispatch and optimisation solution for on-demand services, is another
example of the use of AI in public transport. An AI-based optimisation algorithm links passenger requests in an
efficient and easy-to-use manner, allowing shorter booking times based on real-time vehicle positions. Smaller and more
economical vehicles means fewer but better utilized trips, creating a win-win situation for both public transport
operators and passengers.
Another major challenge for public transport systems is the shortage of skilled workers. init's MOBILE-PERDIS nextGen
application creates the best duty rosters for drivers or transport operators on the basis of their individual wants and
needs and can be continuously updated. This not only increases flexibility but also staff satisfaction among drivers
which are a scarce resource. In this way, it also counters the problem of driver shortages for public transport
operations. This avoids restricted availability for fixed route services, low fare receipts and disgruntled passengers.
"There are also major global growth opportunities for these solutions," states the Chairman of the Managing Board in
his outlook.

Contact:
Person making the notification:
Simone Fritz
Investor Relations
ir@initse.com
2024-06-06 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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Language:     English 
Company:      init innovation in traffic systems SE 

Käppelestraße 4-10
76131 Karlsruhe
Germany

Phone:        +49 (0)721 6100 0 
Fax:          +49 (0)721 6100 399 
E-mail:       ir@initse.com 
Internet:     www.initse.com 
ISIN:         DE0005759807 
WKN:          575980 
Listed:       Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, 

Hamburg, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 1920041

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1920041 2024-06-06 CET/CEST

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END) Dow Jones Newswires

June 06, 2024 11:20 ET (15:20 GMT)