InTiCa Systems AG: Provisional figures for 2020 - Guidance confirmed, 2021 financial year off to a positive start

Sales rose 8.1% to EUR 71.1 million

EBIT margin was 1.0%

High order backlog and continued momentum in Q1 2021

Uncertainty due to coronavirus pandemic remains

Passau, March 24, 2021 - InTiCa Systems AG (Prime Standard, ISIN DE0005874846, ticker IS7) today announced provisional, unaudited figures for the 2020 financial year, which was overshadowed by the coronavirus pandemic. Thanks to a strong spurt at the end of the year, InTiCa was able to offset the downturn in business in the second and third quarters and ended the year with a visible increase in sales and a positive EBIT margin. Both figures are in line with the quantified guidance (sales >EUR 70 million; EBIT between EUR 0.5 million and EUR 1.0 million), which was only issued in January 2021 due to the enormous uncertainty.

Earnings, asset and financial position

Overall, Group sales increased by 8.1% year-on-year to EUR 71.1 million (2019: EUR 65.7 million). This was due to the high demand for e-solutions. The Automotive Technology segment benefited especially from this, with sales rising 12.4% to EUR 53.3 million (2019: EUR 47.4 million). The Industrial Electronics segment was also very stable. Here, sales amounted to EUR 17.8 million, only slightly below the very good prior-year level (2019: EUR 18.3 million).

EBITDA (earnings before interest, taxes, depreciation and amortization) was EUR 6.7 million in the reporting period, which was slightly below the prior-year level (2019: EUR 7.4 million), giving an EBITDA margin of 9.4% (2019: 11.2%). EBIT (earnings before interest and taxes) was EUR 0.7 million (2019: EUR 2.1 million) and the EBIT margin was 1.0% (2019: 3.2%). It should be noted that the sharp depreciation of the Czech koruna and Mexican peso at the start of the coronavirus pandemic led to significant currency losses, which increased other expenses but had no impact on cash flows.

Cash and cash equivalents totalled EUR 1.5 million on December 31, 2020 (December 31, 2019: EUR 0.7 million). On the reporting date, InTiCa Systems also had assured credit facilities of EUR 12.0 million, which can be drawn at any time. The equity ratio was 31.7% on the reporting date, slightly below the previous year's level of 32.5%.

Outlook

Due in part to its solid liquidity position, InTiCa Systems AG is confident that it will emerge strengthened from the coronavirus pandemic. The good order situation highlights the success of its overall strategic focus. At the end of the reporting period, orders on hand amounted to EUR 120.8 million, far higher than in the strong prior-year period (December 31, 2019: EUR 108.3 million). 73% of orders were for the Automotive Technology segment (2019: 78%). In both segments, a significant proportion of new orders are for new e-solutions products.

In view of this, the momentum seen in the fourth quarter of 2020 continued in the first weeks of 2021. This was partly attributable to volumes called off in 2020 as high demand meant that not all orders could be delivered by year end. All three sites are currently producing as circumstances permit, but there is continued uncertainty due to the renewed rise in the number of infections and the dangerous virus mutations. More detailed guidance for the 2021 financial year and the future development of the segments will therefore be issued at the earliest when the annual report is published on April 22, 2021.

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

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.