InTiCa Systems SE: Interim report for H1 2025 published – Operating conditions still extremely challenging, some success visible

InTiCa Systems SE: Interim report for H1 2025 published – Operating conditions still extremely challenging, some success visible

Group sales amounted to EUR 34.4 million (H1 2024: EUR 39.4 million)

EBIT negative at minus EUR 1.3 million (H1 2024: positive EBIT of EUR 0.5 million)

Operating cash flow improved to EUR 2.8 million (H1 2024: minus EUR 39 thousand)

Orders on hand still below the prior-year level at EUR 76.7 million (June 30, 2024: EUR 82.3 million)

Guidance specified, improvement in profitability expected in the second half of the year

Passau, August 8, 2025 – InTiCa Systems SE (Prime Standard, ISIN DE0005874846, ticker IS7) today published the interim report for the first half year of 2025. Uncertainty remained high in the second quarter, resulting in continued sluggish demand and persistently volatile order offtake. Contrary to the negative sales and earnings trend, operating cash flow increased significantly in the reporting period. That reflects the efforts to reduce costs and increase productivity.

Dr. Gregor Wasle, CEO of InTiCa Systems SE, on the company’s business performance and outlook: “In the Industry & Infrastructure segment in particular, sales were below expectations. Here, Asia had a stronger influence than some customers had anticipated in advance. The positive factors in the first six months included slight sales growth in the Mobility segment for the first time for several periods. The success of the ongoing efficiency measures should become more apparent in the second half of the year. In the reporting period, non-cash currency losses in Mexico and increased consulting expenses for transformation tasks offset the positive effects. In the medium term, we need to increasingly achieve higher value-added and raise the sale of assemblies rather than individual components. In addition, with our new product and sales areas we are stepping up our focus on speciality markets.”

Development of sales and earnings

Group sales declined by 12.6% year-on-year to EUR 34.4 million in the first six months of 2025 (H1 2024: EUR 39.4 million). The Industry & Infrastructure segment in particular saw an ongoing downward trend. Sales of EUR 2.4 million correspond to a decline of 70.4% compared to the first half of 2024 (H1 2024: EUR 8.2 million). By contrast, sales in the Mobility segment slightly exceeded the previous year's level at EUR 32.0 million (H1 2024: EUR 31.2 million). The rise compared to the first half of 2024 amounted to 2.6%.

In the reporting period, the sale of materials to a customer negatively affected the cost ratio. However, at 57.2% the ratio of material costs to total output remained at a low level (H1 2024: 54.3%). By contrast, there was a further slight decrease in the personnel expense ratio (including agency staff) from 24.5% to 23.2%. At EUR 5.2 million, other operating expenses were slightly above the prior-year level (H1 2024: EUR 5.1 million). This was mainly due to additional reporting and consulting costs incurred in connection with the ongoing restructuring measures.

EBITDA (earnings before interest, taxes, depreciation and amortization) fell disproportionately year-on-year to EUR 1.9 million (H1 2024: EUR 3.7 million). As a result, the EBITDA margin of 5.6% was below the previous year's level (H1 2024: 9.4%). EBIT (earnings before interest and taxes) was negative at minus EUR 1.3 million (H1 2024: positive EBIT of EUR 0.5 million). At segment level, Mobility reported EBIT of minus EUR 0.7 million in the first six months of 2025 (H1 2024: minus EUR 0.3 million) and the Industry & Infrastructure segment reported EBIT of minus EUR 0.6 million (H1 2024: positive EBIT of EUR 0.7 million).

The financial result was minus EUR 0.8 million in the reporting period (H1 2024: minus EUR 1.0 million). Tax income was EUR 13 thousand in the reporting period (H1 2024: EUR 53 thousand). Group net income was therefore minus EUR 2.1 million in the first six months of 2025 (H1 2024: minus EUR 0.5 million). Earnings per share were minus EUR 0.49 (H1 2024: minus EUR 0.11).

Despite the negative effect of the loss for the period, the net cash flow for operating activities was clearly positive at EUR 2.8 million in the first six months of 2025 (H1 2024: outflow of EUR 39 thousand). That reflects the efforts to optimize working capital management. As a result of high repayments of principal, which were set against a low level of new debt, the total cash flow was negative at minus EUR 0.9 million despite the reduction in capital expenditure (H1 2024: positive total cash flow of EUR 0.3 million). Therefore, liquidity management still has very high priority. The equity ratio declined slightly to 28.4% in the reporting period but remains at a solid level (Dezember 31, 2024: 29.8%).

Outlook

The macroeconomic environment is still dominated by numerous risk factors. That also affects InTiCa Systems’ order situation. At the end of the first six months, orders on hand amounted to EUR 76.7 million, which was still far lower than in the prior-year period (June 30, 2024: EUR 82.3 million). 92% of orders were for the Mobility segment (30 June 2024: 90%). So far, there has been a slight upturn in the third quarter and looking ahead to the fourth quarter this seems to be picking up. However, in view of the high volatility of order offtake, the sustainability of orders on hand cannot be estimated reliably at present.

On the product side, demand for antennas, in particular, is currently stable. New orders for antennas and for plastic components have been received in Mexico. There are also new enquiries about stator coils for hybrid vehicles. In addition, the start-up of a new product could lead to rising volume sales for EMC filters, countering the downward trend seen in recent years. While decisions on new orders are often taken very late or delayed, the situation is different with regard to long-term extensions of orders for existing products. In the Mobility segment, there are regular enquiries about this and successful negotiations. This strengthens profitability due to the use of existing equipment, some of which has already been fully depreciated. In the medium term, it is, however, essential to win new orders. Though volumes are not yet sufficient to offset the weakness of the established markets, the development of the new product groups and markets is moving in the right direction. The first major orders are about to be placed, initial samples have been delivered and have either already been validated or are in the process of being validated.

Taking into account the ongoing high uncertainty, at present the Board of Directors is retaining its forecast for 2025. Group sales are expected to be in the middle of the EUR 66.0 million to EUR 72.0 million range. On the earnings side, it is anticipated that EBIT will be at the lower end of the range of minus EUR 0.5 million to EUR 1.5 million. This is based on the assumption that in the second half of the year consulting expenses and non-cash currency losses will be lower than in the reporting period. Where possible, the material cost ratio should be optimized further in both segments and the equity ratio should remain stable.

The complete interim report for H1 2025 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 SE is an international provider of electronic components and systems. Its innovative solutions for the automotive industry, renewable energy, industrial applications and other sectors make a contribution to a more sustainable, networked future. You can find further information at www.intica-systems.com.

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.