Kapsch TrafficCom (KTCG) Q2 2026 earnings summary

Executive summary

• Revenue for H1 2025/26 declined 27.2% year-over-year to €200mn, mainly due to the removal of two major EMEA projects and a challenging market with project delays and postponements.

• EBIT improved to €10.4mn, driven by a €27mn cash inflow from a settlement agreement with Germany; without this, EBIT would have been significantly negative.

• Net result attributable to equity holders improved to €2.1mn from a loss of €10.5mn in the prior year.

• Free cash flow was negative at €-4.5mn, and the equity ratio increased to 22.9%.

Financial highlights

• EBIT margin rose to 5.2% from -0.3% year-over-year.

• EBITDA increased to €17mn from €7.1mn.

• Net debt increased to €112.5mn; gearing ratio rose to 117.2%.

• Cash and cash equivalents fell to €28.8mn from €47.8mn at year-end.

• Earnings per share improved to €0.15 from €-0.73 year-over-year.

Outlook and guidance

• Full-year 2025/26 revenue guidance lowered to €450mn, with EBIT forecasted at €25mn, including the German settlement income.

• Management focus on order intake and cost base adjustment to align with lower revenue levels.