Frequentis AG: Order intake of half a billion euros for the first time

Vienna / Austria (pta016/09.04.2024/10:16 UTC+2)

• Revenues +10.8% to EUR 427.5 million
• Order intake +24.7% to EUR 505 million
• EBIT increased to EUR 27 million
• Proposal to increase the dividend again to EUR 0.24

Revenues, earnings, order development

The stable Frequentis business model led to a further increase in revenues of almost 11% to EUR 427.5 million. Revenues grew by around 14% in the Air Traffic Management segment and almost 5% in the Public Safety & Transport segment. By region, 66% of revenues were generated in Europe, 16% in the Americas, 11% in Asia, and 7% in Australia / Pacific / Africa.

Order intake rose by EUR 100.0 million to EUR 504.8 million, an increase of almost 25%. Higher inflation was reflected in purchases from suppliers and in pay rises. Nevertheless, EBIT improved to EUR 26.6 million and the EBIT margin was 6.2%.

"We managed to increase revenues and order intake volumes in all segments. That is a tremendous success for our team. I would like to thank the 2,200 employees who work for Frequentis around the world for their commitment and contribution to this success," said Frequentis CEO Norbert Haslacher.

Substantial orders were received, for instance, from the USA (from Verizon / FAA for the delivery of an Enterprise Network Service system), Canada (a voice communication system for the Canadian air navigation service provider), France (a communication system for the nationwide rail network), and Norway (nationwide control centre communication for emergency rescue and medical on-call services).

Research & development for a safer world

For Frequentis, the growing global need for safety and mobility are driving forces for investment in innovative products and technologies. In 2023, Frequentis invested around 6% of revenues in company-funded R&D, for example, for the ongoing development of aeronautical information systems for drone management, digital towers, and the use of network technology in the safety-critical sector.

That has resulted in several products that are already in operation. Examples are the digital traffic management system for Austro Control Dronespace and the drone-controlled inspection system for the Austrian rail network (ÖBB).

5 years on the stock exchange, 9 acquisitions

Frequentis has made nine acquisitions since its IPO in 2019. In 2023, the focus was on technology acquisitions. The purchase of a 76.76% interest in the German company FRAFOS strengthens Frequentis' cybersecurity competence. The acquisition of the Norwegian company GuardREC extends the recording and data analytics business, i.e., the recording and evaluation of voice and flight data.

Proposal to raise the dividend again, increase in equity

The profit for 2023 was EUR 20.0 million and earnings per share were EUR 1.39. Frequentis proposes to pay a 9% higher dividend of EUR 0.24 this year. Equity rose to EUR 155.6 million, the equity ratio was 41.9%, and the net cash position was EUR 84.3 million.

Outlook

Based on the three megatrends – safety & security, mobility, and technology – which remain intact, Frequentis expects order intake and revenues to increase further in 2024 compared with 2023. In view of the ramp-up costs for the major projects acquired in 2023 and persistent inflation, the EBIT margin is expected to be around 6% in 2024.

The current financial publications can be found at: www.frequentis.com/publications.

About FREQUENTIS

Frequentis is a global supplier of communication and information systems for control centres with safety-critical tasks. The listed family company develops and markets its "control centre solutions" in the Air Traffic Management segment (civil and military air traffic control, air defence) and the Public Safety & Transport segment (police, fire brigades, emergency rescue services, railways, coastguards, port authorities). With a market share of 30%, Frequentis is the world market leader in voice communication systems for air traffic control. Frequentis is also the global leader in aeronautical information management and aeronautical message handling systems.

As a global player with around 2,200 employees (full-time equivalents/FTE), Frequentis has a global network of companies and representatives in more than 50 countries. Its head office is in Vienna, Austria. Frequentis' products, services, and solutions are used at more than 49,000 operator working positions in around 150 countries. Shares in Frequentis are traded on the Vienna and Frankfurt stock exchanges; ISIN: ATFREQUENT09, WKN: A2PHG5. In 2023, revenues were EUR 427.5 million and EBIT was EUR 26.6 million.

Wherever Frequentis' systems are used, safety-critical operators bear responsibility for the safety of other people and goods. The company also works towards a more sustainable future through its air traffic optimisation solutions.

For more information, please visit www.frequentis.com

Jennifer McLellan, Global Media Relations Manager
jennifer.mclellan@frequentis.com, +44 2030 050 188

Barbara Fürchtegott, Head of Communications/Company Spokesperson
barbara.fuerchtegott@frequentis.com, +43 1 81150-4631

Stefan Marin, Head of Investor Relations
stefan.marin@frequentis.com, +43 1 81150-1074

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Emitter:	Frequentis AG Innovationsstraße 1 1100 Wien Austria
Contact Person:	Stefan Marin
Phone:	+431811501074
E-Mail:	stefan.marin@frequentis.com
Website:	www.frequentis.com
ISIN(s):	ATFREQUENT09 (Share)
Stock Exchange(s):	Vienna Stock Exchange (Official Trade)
Other Stock Exchanges:	Regulierter Markt in Frankfurt