InTiCa Systems SE, a provider of electronic components and systems, published its interim report for the first half of 2026, revealing a slight uptick in sales and earnings despite ongoing market difficulties. Group sales rose by 1.5% year-on-year to EUR 35.0 million, while EBIT improved to minus EUR 1.1 million from minus EUR 1.3 million in the prior-year period. The company continues to grapple with adverse conditions in the automotive sector, but growth in the Industry & Infrastructure segment provided some offset.
Dr. Gregor Wasle, CEO of InTiCa Systems, commented on the performance: "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."
The Mobility segment, a key focus, saw sales decline by 6.4% to EUR 30.0 million, reflecting a weaker second quarter. Conversely, the Industry & Infrastructure segment posted a remarkable 104.8% increase in sales, reaching EUR 5.0 million. This diversification is part of the company's strategic transformation, aimed at reducing reliance on the volatile automotive market.
On the cost side, the ratio of material costs to total output escalated to 61.1% from 57.2%, driven primarily by soaring copper prices. Personnel expenses also inched up to 23.6% of total output. However, other operating expenses decreased to EUR 4.3 million from EUR 5.2 million, helping to mitigate some of the impact.
EBITDA rose slightly to EUR 2.0 million, with a margin of 5.8%, up from 5.6% a year earlier. Despite these improvements, the group reported a net loss of EUR 1.8 million, translating to a loss per share of EUR 0.42. The financial result was minus EUR 0.7 million, and tax income was minimal.
Cash flow remained under pressure due to the net loss. Operating activities resulted in a net cash outflow of EUR 0.6 million, a reversal from an inflow of EUR 2.8 million in H1 2025. Total cash outflow was minus EUR 0.1 million. The equity ratio decreased to 28.0% from 32.1% at the end of 2025, but remains at a "solid level," according to the company.
Orders on hand increased to EUR 81.4 million as of June 30, 2026, up from EUR 76.7 million a year earlier, with 93% coming from the Mobility segment. New orders were primarily for inverter components, and the company noted that extending contract terms is a recurring issue due to European manufacturers' model policies. The stability of orders is uncertain, with potential adjustments expected in the fourth quarter.
Friedrich Erfuth of the Board of Directors offered a cautious outlook: "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."
For the full year 2026, the Board anticipates Group sales between EUR 68.0 million and EUR 73.0 million, with EBIT ranging from minus EUR 1.5 million to minus EUR 2.5 million, corresponding to an EBIT margin between -2.1% and -3.7%. The forecast assumes no further deterioration in the cyclical trend, no escalation of geopolitical and trade conflicts, and ensured financing. However, unforeseen negative effects could impact suppliers, InTiCa Systems, or its customers, potentially leading to unmet expectations.
For more details, the complete interim report is available on the company's website at www.intica-systems.com.
