InTiCa Systems SE: Interim report for Q1 2024 published - Flexibility
against the ongoing uncertainty

EQS-News: InTiCa Systems SE / Key word(s): Quarter Results
InTiCa Systems SE: Interim report for Q1 2024 published - Flexibility
against the ongoing uncertainty

31.05.2024 / 07:40 CET/CEST
The issuer is solely responsible for the content of this announcement.

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InTiCa Systems SE: Interim report for Q1 2024 published - Flexibility
against the ongoing uncertainty

Group sales amounted to EUR 20.1 million (3M 2023: EUR 23.7 million)

EBIT margin of 1.9% (3M 2023: 2.6%)

Orders on hand below the prior-year level at EUR 86.1 million (March 31,
2023: EUR 96.2 million)

Group sales expected between EUR 80.0 million EUR 95.0 million in 2024,
while the EBIT margin should be between 0.0% and 2.5%

Annual report for 2023 will be published on June 7, 2024

Passau, May 31, 2024 - InTiCa Systems SE (Prime Standard, ISIN DE0005874846,
ticker IS7) today published its interim report for the first three months of
2024. With Group sales of EUR 20.1 million, an EBIT margin of 1.9% and
orders on hand of EUR 86.1 million, the key figures are in line with
expectations. The comparative figures for the 2023 financial year provided
for information have been agreed with the auditor. The annual report for
2023 will be published on June 7, 2024. The financial reporting on the 2023
financial year will not present significant changes compared with the most
recent forecast for the consolidated financial figures as published in the
interim report for the first nine months of 2023 and the ad-hoc statement
issued on November 8, 2023.

Dr. Gregor Wasle, CEO of InTiCa Systems SE, on the company's business
performance: "As expected, InTiCa Systems SE made a subdued start to 2024.
In the Industry & Infrastructure segment in particular, the market downturn
gathered pace at the beginning of this year, bringing a downward adjustment
of order offtake figures. In the Automotive segment, sales figures for
hybrids and vehicles with combustion engines recently picked up. As a
result, the offtake situation improved slightly at the beginning of the year
despite the temporary dip in demand for electric vehicles. Demand for stator
coils for hybrid vehicles and coils for dampeners for chassis products was
particularly strong. Customers in both segments anticipate that there will
be a slight recovery starting in the summer 2024."

Earnings, asset and financial position

Group sales declined by 15.5% year-on-year to EUR 20.1 million in the first
three months of 2024 (3M 2023: EUR 23.7 million). While sales in the
Automotive segment dropped only slightly year-on-year, by 2.3% to EUR 16.0
million (3M 2023: EUR 16.4 million), the Industry & Infrastructure segment
saw significant postponements or even cancellation of orders by some
customers. Compared to the very strong prior-year quarter, this resulted in
a 45.0% decline in sales to EUR 4.0 million (3M 2023: EUR 7.3 million).

At 56.1%, the ratio of material costs to total output in the reporting
period was clearly below the prior-year level (3M 2023: 62.0%). By contrast,
the personnel expense ratio (including agency staff) increased slightly from
23.9% to 24.1%. At the same time, other operating expenses decreased from
EUR 3.1 million in the prior-year period to EUR 2.3 million.

EBITDA (earnings before interest, taxes, depreciation and amortization) only
decreased by 4.9% year-on-year to EUR 2.0 million (3M 2023: EUR 2.1
million), with the EBITDA margin above the previous year's level at 10.0%
(3M 2023: 8.9%). EBIT (earnings before interest and taxes) amounted to EUR
0.4 million (3M 2023: EUR 0.6 million), so the EBIT margin declined from
2.6% to 1.9%. At segment level, Automotive reported EBIT of minus EUR 0.4
million in the first three months of 2024 (3M 2023: positive EBIT of EUR 0.4
million) and the Industry & Infrastructure segment reported EBIT of EUR 0.8
million (3M 2023: EUR 0.2 million).

The financial result was minus EUR 0.5 million in the reporting period (3M
2023: minus EUR 0.3 million), and tax expense was EUR 2 thousand (3M 2023:
EUR 0.1 million). Group net income was therefore minus EUR 0.1 million in
the first three months (3M 2023: positive net income of EUR 0.2 million).
Earnings per share were minus EUR 0.02 (3M 2023: EUR 0.05).

In spite of the year-on-year decline in interim profit and the pressure on
liquidity due to the high degree of flexibility which is necessary in the
management of production, personnel and materials, cash flow from operating
activities was only slightly negative in the first three months of 2024. The
same applies to the overall cash flow. The limited investments were financed
by new loans. The equity ratio thus slipped slightly in the reporting period
but remains at a solid level.

Outlook

At the end of the first quarter, orders on hand were well below the
prior-year level at EUR 86.1 million (March 31, 2023: EUR 96.2 million). 89%
of orders were for the Automotive segment (Q1 2023: 78%). From the fourth
quarter of 2023, increasing restraint was evident, especially in the
Industry & Infrastructure segment in respect of e-charging infrastructure
and products for the photovoltaics industry. By contrast, the offtake
situation in the Automotive segment is currently somewhat better than in
2023. Here, higher unit sales of vehicles with combustion engines and
hybrids play a key role. Since the future geopolitical and economic
developments are difficult to estimate, uncertainty remains high overall.
Therefore, at present it is not possible to effectively estimate the extent
of order offtake by customers in the remainder of the year. Discussions with
OEMs about shortfalls in order volumes are still proving difficult.

Bernhard Griesbeck of the Board of Directors on the outlook for the InTiCa
Systems Group: "The macroeconomic environment is still dominated by high
uncertainty. That is reflected in an increase in tied capital as a result of
inventories to safeguard the reliability of supply. To ensure a high degree
of flexibility, it has long been part of InTiCa's strategy to diversify the
product portfolio and specifically generate and utilize synergies. For
example, the new products for special electric drives for a European
producer and bidirectional e-charging systems of a major US producer are
derived from both segments. By gaining access to new areas of business and
building up a new business for inductive speciality products, we want to
become even less dependent on individual market segments in future. The
first, small orders have been acquired since the beginning of 2024."

At present, the Board of Directors assumes that, taking into account the
ongoing high uncertainty, Group sales will be between EUR 80.0 million EUR
95.0 million in 2024, while the EBIT margin will be between 0.0% and 2.5%.
Where possible, the material cost ratio should be optimized further in both
segments and the equity ratio should remain stable. The assumptions
underlying the forecast for 2024 are that the cyclical trend will not
deteriorate further and geopolitical conflicts will not escalate.
Unforeseeable negative effects 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 Q1 2024 is available for download from the
Investor Relations section of InTiCa Systems' website at
www.intica-systems.com.

InTiCa Systems SE


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 and
Industry & Infrastructure segments and has more than 700 employees at its
sites in Passau (Germany), Prachatice (Czech Republic), Silao (Mexico) and
Bila Tserkva (Ukraine).

The Automotive 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' Industry & Infrastructure
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 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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31.05.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS
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   Language:       English
   Company:        InTiCa Systems SE
                   Spitalhofstraße 94
                   94032 Passau
                   Germany
   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:    1914927

End of News EQS News Service
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1914927 31.05.2024 CET/CEST