- Growth target of 15 percent achieved: Revenues increase to EUR 156m (previous year: EUR 135.7m)
- EBIT more than doubled to EUR 16m (previous year: EUR 6.4m)
- EBIT margin again above 10 percent - milestone reached
- Operating cash flow significantly increased to more than EUR 20m (previous year: EUR 12.8m)

init innovation in traffic systems SE (ISIN DE 0005759807) achieved the growth targets set for 2019 and particularly the EBIT margin was increased significantly as indicated by the provisional figures of the past financial year that are now available. Based on these figures, revenues of EUR 156m (previous year: EUR 135.7m) set a new record. Operating earnings before interest and taxes (EBIT) more than doubled compared to the previous year (EUR 6.4m). At EUR 16m, it is slightly above the target corridor. "Our measures to improve the earnings margin are showing effect. With an EBIT margin of more than 10 percent, we have achieved our milestone," comments CFO Jennifer Bodenseh.

The efficiency improvement measures implemented are increasingly showing positive effects in all group companies. At the same time, investments in e-ticketing and electromobility are bearing fruit with growth.

Due to the particularly good EBIT development, operating cash flow also increased significantly to more than EUR 20m.

The incoming orders achieved in 2019 exhibit sustained strong growth for the init group. At EUR 160m (previous year: EUR 161.8m), incoming orders are still higher than annual revenues, matching the record level of the previous year. Order backlog at year-end 2019 reached EUR 151m and is thus above the previous-year figure (EUR 142.6m).

"2019 was an excellent year for us. Our investments in pioneering technologies are paying off. We will roll out further innovative products and are already working on the next generation of our integrated product range," said the init Managing Board.

The final figures, the complete annual report for 2019 and the forecast for financial year 2020 to be presented and explained by the Managing Board at the Annual Press and Analyst Conference on 25 March 2020 in Frankfurt am Main.