Kapsch TrafficCom prel. 1Q 20/21 - Preliminary 1Q results deep in the red
Kapsch TrafficCom posted preliminary 1Q 20/21 results late Friday afternoon. Revenues dropped by 26% yoy to EUR 138 mn and EBIT came in negative at EUR -11 mn, vs. last year's EUR 4.6 mn. Sales suffered from phase out of contracts in the Czech Republic and Bulgaria as well as the cancellation of the German toll project. At the same time, personnel shortage-related cost overruns in the US and software issues continued and weighed on EBIT, which turned negative.Kapsch TrafficCom is an international supplier of superior intelligent transportation systems (ITS). Co. subdivided into the following three segments: Road Solution Projects; Services, System Extensions, Components Sales; and Others. The segment Road Solution Projects relates to the installation of ITS solutions. The segment Services, System Extensions, Components Sales relates to the sale of services and components in the area of ITS solutions. The segment Others relates to non-core business activities conducted by Kapsch Components KG. In this segment, Co. offers engineering solutions, electronic manufacturing and logistics services to affiliated entities and third parties.
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