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Original-Research: init innovation in traffic systems SE - from Quirin

Privatbank Kapitalmarktgeschäft

13.11.2025 / 16:37 CET/CEST

Dissemination of a Research, transmitted by EQS News - a service of EQ

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Classification of Quirin Privatbank Kapitalmarktgeschäft to init innovation

in traffic systems SE

Company Name: init innovation in traffic systems SE

ISIN: DE0005759807

Reason for the research: update

Recommendation: Buy

from: 13.11.2025

Target price: 60.00

Last rating change:

Analyst: Ralf Marinoni

Tailwind for year-end target

init showed strong results in its third quarter: sales increased by 34% yoy

and EBIT margin came in 10%, reaching double-digit terrain. Furthermore,

Thanks to the positive earnings performance and agreed advance payment

terms, cash flow from operating activities quadrupled to EUR 33.3m in the

nine-month period (September 30, 2024: EUR 8.0m). We therefore confirm our

Buy recommendation and the EUR 60.00 TP.

You can download the research here:

https://eqs-cockpit.com/c/fncls.ssp?u=a38fb66a49a960322ee70bf6d0099450

For additional information visit our website:

https://research.quirinprivatbank.de/

Contact for questions:

Quirin Privatbank AG

Institutionelles Research

Schillerstraße 20

60313 Frankfurt am Main

research@quirinprivatbank.de

https://research.quirinprivatbank.de/

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2229620 13.11.2025 CET/CEST

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