Kapsch TrafficCom (KTCG) Q1 2026 earnings summary

Executive summary

• Revenues for Q1 2025/26 were €100.4 million, down 27.7–28% year-over-year, mainly due to the removal of two major tolling projects and revenue deferrals.

• EBIT rose sharply to €21.7–22 million from a loss of €3.4 million in the prior year, reflecting a settlement income from Germany and effective cost management.

• Net result attributable to equity holders improved to €10–10.3 million from a loss of €9.9–10 million year-over-year.

• Major progress was made on project implementations and new projects were secured.

Financial highlights

• EBIT margin increased to 21.6% from -2.4% in the previous year.

• Free cash flow was negative at €-18 to -18.3 million, compared to €0.7–1 million in Q1 2024/25.

• Net debt rose to €125.7–126 million, up from €101 million sequentially.

• Equity ratio improved to 24.1% from 20% at the end of the previous quarter.

• Total assets decreased by 4.3% to €435.0 million.

Outlook and guidance

• Full-year 2025/26 revenues are expected to decline to around €510 million, with EBIT projected at approximately €45 million.

• Focus remains on increasing efficiency and reducing net debt.

• Additional positive one-time effects are possible.