KapschTrafficCom FY 20/21 - Positive EBIT outlook for transitory year of refocussing
Final FY 2020/21 results in line with preliminariesFY 2021/22 guidance: sales up by a decent amount, EBIT margin in low single-digit percentage (the latter in line with RBIe of 2.3% and consensus of 2.4%)
With the bad news already digested in April and the outlook roughly in line in terms of profitability, we have a neutral take
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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