InTiCa Systems SE (Prime Standard, ISIN DE0005874846, ticker IS7) has published its interim report for the first half of 2026, revealing a modest uptick in group sales and a slight improvement in earnings indicators. However, the company continues to grapple with a significant loss for the period, driven by elevated material costs and a challenging automotive market.
Group sales for the first six months of 2026 reached EUR 35.0 million, a 1.5% increase compared to EUR 34.4 million in the prior-year period. The Mobility segment experienced a 6.4% decline in sales to EUR 30.0 million, while the Industry & Infrastructure segment saw a remarkable 104.8% surge to EUR 5.0 million, up from EUR 2.4 million in H1 2025. This growth was largely attributed to strong demand for inverters and charging systems.
Despite the top-line improvement, the company's profitability remained under pressure. The ratio of material costs to total output escalated to 61.1% from 57.2% in the previous year, primarily due to the sharp rise in copper prices and increases in oil-dependent precursors such as plastics and enamelled copper wire. The personnel expense ratio also inched up slightly to 23.6% from 23.2%. Other operating expenses were reduced to EUR 4.3 million from EUR 5.2 million.
EBITDA (earnings before interest, taxes, depreciation, and amortization) increased to EUR 2.0 million from EUR 1.9 million, with the EBITDA margin improving to 5.8% from 5.6%. However, EBIT (earnings before interest and taxes) remained negative at minus EUR 1.1 million, albeit better than the minus EUR 1.3 million in H1 2025. The Mobility segment reported an EBIT of minus EUR 1.1 million, while Industry & Infrastructure achieved a positive EBIT of EUR 0.1 million.
The financial result was minus EUR 0.7 million, and after a small tax income of EUR 2 thousand, the group net loss stood at minus EUR 1.8 million, an improvement from minus EUR 2.1 million in the prior year. Earnings per share were minus EUR 0.42, compared with minus EUR 0.49 in H1 2025.
The net loss negatively impacted cash flows, with operating activities generating a net cash outflow of EUR 0.6 million, versus an inflow of EUR 2.8 million in the same period last year. Total cash flow was minus EUR 0.1 million. Liquidity management remains a high priority, and the equity ratio decreased to 28.0% from 32.1% at the end of 2025, due to increased current financial liabilities.
Despite the challenging environment, orders on hand stabilized and rose above the prior-year level to EUR 81.4 million (June 30, 2025: EUR 76.7 million), with 93% attributable to the Mobility segment. New orders in the first half were mainly for inverter components. The company notes that extending contract terms is a recurring issue in the Mobility segment due to European manufacturers' model policies, and adjustments are expected particularly in the fourth quarter.
Dr. Gregor Wasle, CEO of InTiCa Systems SE, commented: “The challenging market conditions for automotive producers have not spared InTiCa Systems SE in the second quarter. However, this was more than offset by significant growth in business with inverters and charging systems in the Industry & Infrastructure segment. On the earnings side, InTiCa is affected by the hike in copper prices and the increase in the price of precursors that are dependent on the oil price, such as plastics and enamelled copper wire. This overshadows successful measures to reduce costs and enhance productivity.”
Looking ahead, the Board of Directors maintains its forecast for the 2026 financial year, projecting group sales between EUR 68.0 million and EUR 73.0 million, and EBIT between minus EUR 1.5 million and minus EUR 2.5 million, corresponding to an EBIT margin between -2.1% and -3.7%. The assumptions include that the cyclical trend does not deteriorate further, geopolitical and trade policy conflicts do not escalate, no new conflicts emerge, and financing remains ensured. Unforeseeable negative effects could impact suppliers, InTiCa Systems, or its customers, potentially leading to unmet expectations.
Friedrich Erfuth of the Board of Directors added: “The development of orders and the volatility of order offtake were in line with expectations and liquidity is protected by the standstill agreements with the banks. We are consistently continuing the transformation we have initiated through diversification, specialization and localization. The focus on electric motors and EMC filters will be stepped up further in the second half of the year, with increased attention being paid to the new areas of business. The local-to-local approach still plays an important role, especially in North America.”
The complete interim report for H1 2026 is available for download from the Investor Relations section of InTiCa Systems’ website at www.intica-systems.com.
