Regola Drives FREQUENTIS Order Intake in Public Safety & Transport Segment

• Order intake +9.6% to EUR 227.9 million
• Orders on hand +13.6% to EUR 621.1 million
• Revenues +10.4% to EUR 206.2 million
• EBIT at EUR -2.8 million as a result of the seasonality of projects

"Thanks to our well-positioned product portfolio and the focused commitment of over 2,300 employees, we are continuing to grow steadily on all continents. The global safety and mobility megatrends are supporting our growth,” says Frequentis’ CEO Norbert Haslacher. “All key parameters such as order intake, orders on hand, and revenues grew by around 10% or more in the first six months. Orders on hand exceeded EUR 600 million for the first time.”

More orders in both segments
The Air Traffic Management segment posted growth of 9.9% in the first six months of 2024. For
example, an appreciable, long-term order was acquired from the U.S. Federal Aviation Administration
(FAA): Frequentis has been awarded a nationwide contract to implement the air-to-ground protocol
control system (APCS) for the U.S. National Airspace System, which supports over one billion
passengers a year.

In the Public Safety & Transport segment, order intake rose by 9.0%. The Public Safety business
domain drove forward the expansion of its portfolio using the CAD (Command and Control / Computer- Aided Dispatch) products of the Italian company Regola (acquired in 2022), achieving initial successes in Germany and the UK. New orders supported the strategic market expansion in Australia, South-East Asia, the Middle East, and North America.

Development of revenues and earnings
Revenues increased by 10.4% to EUR 206.2 million in the first half of 2024. The regional revenue split
was 64% in Europe, 17% in the Americas, 12% in Asia, and 7% in Australia / Pacific / Africa. Demand
for Frequentis products remains high. Order intake increased by 9.6% to EUR 227.9 million in the first half of 2024 and orders on hand were EUR 621.1 million, a rise of 13.6%. The higher inflation in 2023 resulted in corresponding pay rises in 2024, which led to a disproportionately high increase in personnel expenses compared to revenue.

Due to customer structure and type of project business, the project progress, acceptances and
therefore revenues tend to be highest at year-end, which generally leads to negative earnings in the
first half. In view of the seasonality of business with the public sector, EBITDA was EUR 6.7 million at
the end of the first six months, and EBIT was EUR -2.8 million. Similarly to previous years, the second
half of the year will therefore be far more relevant for full-year profitability.

Asset and capital structure
As of the end of June 2024, equity stood at EUR 149.4 million with an equity ratio of 38.8%. The net
cash position was EUR 66.6 million.

Outlook
Depending on the development of inflation, the war in Ukraine, and the Middle East conflict, Frequentis considers itself to be moving in the right direction to achieve the following targets for 2024 (compared with 2023):
• Increase revenues,
• Increase order intake,
• EBIT margin of around 6%.