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
init SE: A real hidden champion In the 2025 fiscal year, init achieved an EBIT increase of 32.5% to EUR 32.5m. The company has become the global market leader in telematics solutions for public transportation. A true hidden champion! The current weakness in the stock price—due to a weak stock market environment—should be used as an opportunity to buy more shares. We confirm our Buy recommendation and raise the TP from EUR 60.00 to EUR 68.00 based on higher peer group multiples and a DCF valuation. You can download the research here: INIT20260324k 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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2296704 24.03.2026 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 | ||||||||
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026e | ||
| Sales1 | 180,67 | 176,66 | 191,25 | 210,80 | 265,67 | 329,67 | 402,00 | |
| EBITDA1,2 | 28,89 | 27,41 | 31,21 | 32,26 | 38,74 | 49,23 | 57,60 | |
| EBITDA-Margin3 | 15,99 | 15,52 | 16,32 | 15,30 | 14,58 | 14,93 | 14,33 | |
| EBIT1,4 | 19,64 | 17,57 | 21,01 | 21,02 | 24,51 | 32,52 | 40,50 | |
| EBIT-Margin5 | 10,87 | 9,95 | 10,99 | 9,97 | 9,23 | 9,87 | 10,08 | |
| Net Profit (Loss)1 | 14,94 | 12,45 | 16,50 | 15,15 | 15,18 | 19,38 | 24,40 | |
| Net-Margin6 | 8,27 | 7,05 | 8,63 | 7,19 | 5,71 | 5,88 | 6,07 | |
| Cashflow1,7 | 24,44 | 16,01 | 24,38 | 7,98 | 10,84 | 48,80 | 36,00 | |
| Earnings per share8 | 1,50 | 1,25 | 1,66 | 1,54 | 1,57 | 1,97 | 2,43 | |
| Dividend per share8 | 0,55 | 0,55 | 0,70 | 0,70 | 0,80 | 0,90 | 0,80 | |
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.
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| Init | ||||||
| WKN | ISIN | Legal Type | Marketcap | IPO | Recommendation | Plus Code |
| 575980 | DE0005759807 | SE | 448,79 Mio € | 24.07.2001 | Kaufen | 8FXC2C5R+HC |
| PE 2027e | PE 10Y-Ø | BGFL-Ratio | Shiller-PE | PB | PCF | KUV |
| 17,88 | 24,37 | 0,73 | 32,72 | 3,40 | 9,20 | 1,36 |
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Dividend '2023 in € |
Dividend '2024 in € |
Dividend '2025e in € |
Div.-Yield '2025e in % |
| 0,70 | 0,80 | 0,90 | 2,01% |
| Annual General Meeting | Q1-figures | Q2-figures | Q3-figures | Annual press conference |
| 21.05.2026 | 13.05.2026 | 13.08.2026 | 12.11.2026 | 19.03.2026 |
| Distance 60-days-line | Distance 200-days-line | Performance YtD | Performance 52 weeks | IPO |
| +2,02% | -1,64% | -4,28% | +14,03% | +776,47% |
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