Original-Research: init innovation in traffic systems SE (von Quirin Privatbank Kapitalmarktgeschäft): Buy
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Original-Research: init innovation in traffic systems SE - from Quirin Privatbank Kapitalmarktgeschäft
Classification of Quirin Privatbank Kapitalmarktgeschäft to init innovation in traffic systems SE
Solid H1-25 development init’s development in the first half of FY 2025 was characterized by a strong sales increase; in July, the company increased its FY 2025 guidance following a rise of a customer’s order from Atlanta. We adjusted our estimates and increase the DCF-based TP from EUR 55.00 to EUR 60.00. The recommendation remains, of course, Buy. H1-25 overview In the first six months of 2025, init generated revenue of EUR 141.8m. This is ~ 24% above the previous year’s figure of EUR 114.5m. The DILAX group (acquired in September 2024) contributed around EUR 10.1m to the increase in revenue, meaning organic growth amounted to around 15% compared to H1-24. Intensive project activities in North America remained the main driver of organic growth. EBIT came in at EUR 6.5m. In the same period of the previous year, EBIT amounted to EUR 6.7m. You can download the research here: INIT_SE_20250814k For additional information visit our website: https://research.quirinprivatbank.de/ Contact for questions: Quirin Privatbank AG Institutionelles Research Schillerstraße 20 60313 Frankfurt am Main research@quirinprivatbank.de https://research.quirinprivatbank.de/
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2184118 14.08.2025 CET/CEST
Boersengefluester.de (BGFL) provides an overview of the key figures on sales, earnings, cash flow and dividends to help you better assess the fundamental development of the respective companies. All information is entered manually in our database - the source is the respective annual reports. All estimates for future figures are provided by BGFL.
| The most important financial data at a glance | ||||||||
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025e | ||
| Sales1 | 156,46 | 180,67 | 176,66 | 191,25 | 210,80 | 265,67 | 358,00 | |
| EBITDA1,2 | 23,45 | 28,89 | 27,41 | 31,21 | 32,26 | 38,74 | 48,80 | |
| EBITDA-Margin3 | 14,99 | 15,99 | 15,52 | 16,32 | 15,30 | 14,58 | 13,63 | |
| EBIT1,4 | 16,24 | 19,64 | 17,57 | 21,01 | 21,02 | 24,51 | 34,00 | |
| EBIT-Margin5 | 10,38 | 10,87 | 9,95 | 10,99 | 9,97 | 9,23 | 9,50 | |
| Net Profit (Loss)1 | 11,34 | 14,94 | 12,45 | 16,50 | 15,15 | 15,18 | 21,30 | |
| Net-Margin6 | 7,25 | 8,27 | 7,05 | 8,63 | 7,19 | 5,71 | 5,95 | |
| Cashflow1,7 | 21,13 | 24,44 | 16,01 | 24,38 | 7,98 | 10,84 | 13,90 | |
| Earnings per share8 | 1,13 | 1,50 | 1,25 | 1,66 | 1,54 | 1,57 | 2,12 | |
| Dividend per share8 | 0,40 | 0,55 | 0,55 | 0,70 | 0,70 | 0,80 | 0,85 | |
1 in Mio. Euro; 2 EBITDA = Earnings before interest, taxes, depreciation and amortisation; 3 EBITDA in relation to sales; 4 EBIT = Earnings before interest and taxes; 5 EBIT in relation to sales; 6 Net profit (-loss) in relation to sales; 7 Cashflow from operations; 8 in Euro; Source: boersengefluester.de
Auditor: PricewaterhouseCoopers
All relevant valuation ratios, dates and other investor information on your share at a glance. Good to know: All data comes from boersengefluester.de and is updated daily. This means you are always up to date. You can get brief explanations of the key figures by moving the cursor or mouse over the relevant field.
| INVESTOR-INFORMATION | ||||||
| ©boersengefluester.de | ||||||
| Init | ||||||
| WKN | ISIN | Legal Type | Marketcap | IPO | Recommendation | Plus Code |
| 575980 | DE0005759807 | SE | 466,86 Mio € | 24.07.2001 | Kaufen | 8FXC2C5R+HC |
| PE 2026e | PE 10Y-Ø | BGFL-Ratio | Shiller-PE | PB | PCF | KUV |
| 21,33 | 24,03 | 0,89 | 38,46 | 3,85 | 43,06 | 1,76 |
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Dividend '2023 in € |
Dividend '2024 in € |
Dividend '2025e in € |
Div.-Yield '2025e in % |
| 0,70 | 0,80 | 0,85 | 1,84% |
| Annual General Meeting | Q1-figures | Q2-figures | Q3-figures | Annual press conference |
| 21.05.2026 | 13.05.2026 | 14.08.2025 | 13.11.2025 | 19.03.2026 |
| Distance 60-days-line | Distance 200-days-line | Performance YtD | Performance 52 weeks | IPO |
| -2,76% | +9,23% | +26,50% | +24,13% | +807,84% |
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