^
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 EQS
Group.
The issuer is solely responsible for the content of this research. The
result of this research does not constitute investment advice or an
invitation to conclude certain stock exchange transactions.

---------------------------------------------------------------------------

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 targets

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/

---------------------------------------------------------------------------

The EQS Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
View original content:
https://eqs-news.com/?origin_id=6ed501bd-c0a5-11f0-be29-0694d9af22cf&lang=en

---------------------------------------------------------------------------

2229620 13.11.2025 CET/CEST

°