Kapsch TrafficCom AG Announces Sale of Non-Core Strategic Assets

On May 2, 2024, Kapsch TrafficCom AG reported the sale of specific assets outside their strategic focus, realizing approximately EUR 11 million from these transactions. This includes a complete divestiture of their 42.4% holding in Traffic Technology Services, Inc. (TTS), a U.S. company specializing in intelligent transportation technologies. This sale, finalized before March 31, 2024, will enhance the 2023/24 financial results by EUR 4.4 million.

Additionally, through its subsidiary KTC-ZA Holding Proprietary Limited in South Africa, Kapsch TrafficCom has sold its 82.9% stake in TMT Services and Supplies Proprietary Limited, which deals in enforcement and fare collection technologies. This transaction occurred post the March 31, 2024, balance sheet date and therefore does not affect the financial results of the previous year.

CEO Georg Kapsch emphasized that these divestitures align with strategic streamlining efforts set out in their Strategy 2027, aiming to generate at least EUR 30 million in cash inflows to reduce the company's gearing ratio. The financial evaluations from these sales will be included in upcoming financial reports and quarterly highlights.