Berlin, 21 November 2018 | IVU Traffic Technologies AG today published its interim report for the third quarter of 2018. Along with growing sales and gross profit, the Berlin-based public-transport IT specialist posted a significant leap in earnings and adjusted its outlook for the year accordingly.
In the third quarter of 2018, IVU considerably exceeded its expectations, with sales climbing by 27% year-on-year to EUR 51,932 thousand (2017: EUR 40,756 thousand) while gross profit was up 21% at EUR 35,317 thousand (2017: EUR 29,303 thousand). The number of employees increased by 10% to 454 FTEs (2017: 414 FTEs). These developments are reflected in EBIT, which surged significantly to EUR 3,149 thousand (2017: EUR 65 thousand).
“We are heading for the best annual result in IVU’s history,” says Martin Müller-Elschner, CEO of IVU Traffic Technologies AG. “The outstanding result for the third quarter underscores our strong market position. In addition, our efforts to smooth out the disparity in seasonal business performance and to recognise revenue during the year are making an impact.”
In view of the positive business performance, IVU has raised its forecast for the year as whole. It now anticipates sales of more than EUR 75 million (previously: EUR 72 million), a gross profit of around EUR 52 million (previously: EUR 50 million) and EBIT of more than EUR 6 million (previously: EUR 4 million to EUR 5 million). “Our products are still in high demand, particularly in Western Europe and Switzerland, where we have a strong presence on the market,” Müller-Elschner continues. “We want to make use of this potential and create further opportunities internationally, too.”
The full quarterly report is available for download on the company website at www.ivu.com/investors/financial-reports/2018.html.