InTiCa Systems AG

Interim / Quarterly Report • Nov 25, 2025

INTERIM REPORT 9M 2025

9M 2025 in figures

The Group	Q3 2024 EUR '000	Q3 2025 EUR '000	9M 2024 EUR '000	9M 2025 EUR '000	Change vs. 9M 2024
Sales	15,987	16,150	55,403	50,586	-8.7%
Net margin (net result for the period)	-7.9%	-7.2%	-3.1%	-6.4%	-
EBITDA	857	850	4,557	2,785	-38.9%
EBIT	-849	-812	-396	-2,115	-
EBT	-1,281	-1,187	-1,801	-3,292	-
Net result for the period	-1,259	-1,166	-1,726	-3,258	-
Earnings per share (diluted/basic in EUR)	-0.29	-0.27	-0.40	-0.76	-
Total cash flow	375	-9	634	-940	-
Net cash flow for operating activities	4,788	1,066	4,749	3,880	-18.3%
Capital expenditure	355	385	2,539	1,688	-33.5%

	Sep 30, 2024 EUR ′000	Dec 31, 2024 EUR '000	Sep 30, 2025 EUR '000	Change vs. Dec 31, 2024
Total assets	61,772	59,829	54,187	-9.4%
Equity	18,394	17,822	15,097	-15.3%
Equity ratio	29.8%	29.8%	27.9%	-
Number of employees incl. agency staff	603	571	545	-4.6%

The Stock	9M 2024	2024	9M 2025
Closing price (in EUR)	2.88	2.02	2.08
Period high (in EUR)	6.40	6.40	4.22
Period low (in EUR)	2.88	1.58	1.76
Market capitalisation at end of period (in EUR million)	12.25	8.66	8.92
Number of shares	4,287,000	4,287,000	4,287,000

The stock prices are closing prices on XETRA.

InTiCa Systems in the First Nine Months of 2025	2
Foreword by the Board of Directors	4
Board of Directors & Supervisory Board	6
The Stock	7
InTiCa Systems Stock	7
Key data, Share Price Performance & Shareholder Structure	8
Interim Management Report of the Group	9
Economic report	9
Earnings, Asset and Financial Position	10
Risks and Opportunities	12
Outlook	12
Consolidated Interim Financial Statements 9M 2025	14
Consolidated Balance Sheet	15
Consolidated Statement of P&L and Comprehensive Income	17
Consolidated Cash Flow Statement	18
Consolidated Statement of Changes in Equity	19
Notes to the Consolidated Interim Financial Statements	20
Other Information	21
Segment Report	23
Responsibility Statement	24
Financial Calendar	25

Dear shareholders, employees and business associates,

As outlined in the ad-hoc announcement of our revised guidance for this year, the challenging conditions in the first half of the year did not improve significantly in the third quarter. There has been no let-up in the economic storm affecting our business areas. According to a survey conducted by the German automotive association (VDA) this autumn, one in two SMEs in the automotive sector currently regard their situation as poor to very poor; only 20 percent are projecting a positive trend. The business climate in the electro and digital industry has recently clouded noticeably as well. Moreover, in September the German solar industry registered a clear downturn in newly installed capacity.

It is evident that our target markets are in a permanent structural transition. A return to the old situation cannot be expected. Regardless of company size and sector, it is therefore necessary to evolve business models, build up new competencies and drive forward innovative solutions. InTiCa systematically embarked on this transformation process last year. We are convinced that the planned expansion of our product portfolio and the strategic refocusing of our segments are an appropriate response to the changing market requirements.

In the Mobility segment, this means, above all, continuing to extend the original stators business to include electric drives for special categories of vehicles and, more generally, for alternative applications. In the Industry & Infrastructure segment, we are focusing on new areas such as power components for charging infrastructure and electric motors for new applications such as small-scale stationary power generating facilities and initial developments for robotics. We have secured relevant customer projects, which we consider to have high potential, so we are dynamically driving forward their realization.

It is also evident that a strategic adjustment like this cannot generate visible results overnight. Therefore, the new business areas cannot be expected to contribute substantial sales in 2025. Moreover, the volatility of order offtake in our established areas of business remained high in the third quarter. In the Mobility segment, demand for stators and antennas was relatively stable, but other product groups were weak. In the Industry & Infrastructure segment, Chinese producers are continuing to gain a foothold on the European inverter market. That is also affecting volume sales of our power components such as transformers and chokes. Nevertheless, at least part of the drop in orders in this product segment can be offset in 2026 thanks to substantial additional sales from a new order.

Despite the difficult environment, sales rose slightly year-onyear in the third quarter. Although there is still a clear

reduction over the nine-month period, unlike the situation at the half-year stage, this was in the single-digit percentage range. Looking ahead to the future, it should be noted that we have secured several long-term follow-on orders. In addition, the Mexico site is benefiting from the fact that US companies are stepping up local-to-local sourcing strategies.

At Group level, total sales were low at EUR 50.6 million and orders on hand do not point to a turnaround in the short term. In view of this, the review of our planned data indicates that year-end sales in the middle of the forecast range (EUR 66-72 million) cannot be achieved unless there is a sustained market recovery. We have therefore revised our guidance and now expect Group sales to be at the lower end of this range.

The sales shortfall is also impacting the earnings situation. The transformation process requires resources that cannot be fully offset by the savings in fixed costs and measures to enhance productivity, while the diversification of our supplier structure will only have an effect in the medium term. Moreover, although the non-cash currency losses declined in the third quarter, the reduction was less pronounced than had been anticipated. This is reflected in our reduced EBIT guidance of between minus EUR 1.5 million and minus EUR 2.5 million.

To drive forward further optimization projects, Bernd Reichle, an experienced financial expert, joined the management team at the beginning of November. As the new CFO, Mr. Reichle is responsible, in particular, for Finance, Controlling and Procurement, but is not a member of the Board of Directors. At present, the liquidity situation is stable and is being monitored closely.

Despite the turbulent changes, one thing remains unchanged: the electrification of all major areas of life, industrial processes and mobility is a massive task for the future. We are working hard to play our part in successfully shaping that future.

Finally, I would like to thank our employees most sincerely for their hard work and ideas. I would also like to thank our business partners for their good collaboration and our shareholders for their trust and support in these very challenging times.

Passau, November 2025

Yours,

Dr. Gregor Wasle Chairman of the Board of Directors

Company Boards

Board of Directors

Dr. Gregor Wasle Chairman of the Board of Directors Engineering graduate

Strategy, investor relations, R&D, production, finance, human resources and IT

Supervisory Board

Udo Zimmer Chairman Business administration graduate Rottach-Egern

• - Managing Director of GUBOR Schokoladen GmbH,
• - Managing Director of
• Hans Riegelein GmbH & Co. KG
• - Managing Director of
• Rübezahl Schokoladen GmbH & Co. KG
• - Member of the Supervisory Board of VIA Optronics AG

Dr. Michael Hönig Deputy Chairman Advocat Grünwald

- Managing director of Dr. Hönig & Cie. GmbH

Christian Fürst Member of the Supervisory Board Business administration graduate Thyrnau

• - Managing partner of ziel management consulting gmbh
• - Managing partner of Fürst Reisen GmbH & Co. KG
• - Chairman of the Supervisory Board of Electrovac AG
• - Advisory Board of Eberspächer Gruppe GmbH & Co. KG
• - Advisory Board of Karl Bach GmbH & Co. KG

InTiCa Systems' share price performance1)

While the DAX, TecDAX and DAXsector Technology indices posted very divergent trends in 2024, at the beginning of 2025 all markets trended upward. Prices rose continuously until mid-February, then moved sideways at a high level. Against the background of the global tariff conflicts, a downward trend began in mid-March. This had a particularly adverse effect on technology small caps. In the reporting period, the DAX hit a low of 19,670.88 points on April 9, before embarking on a rally and topped 24,000 points at the end of May. During the remainder of the period, it fluctutated between the high of 24,323.58 points reached on July 9 and 23,000 points. The DAX closed the period at 23,880.72 points on September 30, a rise of 20.0% compared with the previous year's closing level. The gains made by the TecDAX and the DAXsector Technology were considerably lower at 6.8% and 4.8% respectively.

Shares in InTiCa started the year at EUR 2.10 and traded sideways in a range of EUR 2.00 to EUR 2.50 in the first weeks of 2025. That was followed by slight correction in mid-February and shares in InTiCa Systems then remained just under EUR 2 until mid-March. The lowest share price in the reporting period was EUR 1.76 on March 5, 2025. Dominated by increasing volatility, shares in InTiCa Systems rose to EUR 4.22 on March 19, 2025, the highest level in the reporting period. The share price subsequently dipped significantly, to its previous level between EUR 2.00 and EUR 2.50. The closing price in XETRA trading was EUR 2.08 on September 30, 2025. InTiCa Systems' market capitalization was therefore EUR 8.9 million at the end of the first nine months (December 31, 2024: EUR 8.7 million).

In the first nine months of 2025, InTiCa Systems provided timely information for its shareholders and the general public on current business trends, specific events and the company's overall prospects. As in the past, the press conference to mark the publication of the annual report for 2024 attracted considerable interest from analysts and investors. The presentation given at the press conference can be accessed on the company's homepage at Investor Relations [available in German only]. The presentation given at this year's Annual General Meeting on July 8, 2025, which was held virtually again, is also available on the website. At the AGM, shareholders were able to inform themselves about fiscal 2024 and the current situation at InTiCa Systems SE.

Key data on the share

DE0005874846
587484
IS7
Regulated Market
Prime Standard
BankM AG
SMC Research
4,287,000
XETRA® , Frankfurt, Hamburg, Berlin, München, Stuttgart, Düsseldorf

Shareholder structure

Dr. Axel Diekmann	over 30%
Thorsten Wagner	over 25%
Tom Hiss	over 5%
Treasury stock	1.5%
Management	less than 1%

As of November 1, 2025

Share price performance

in %

Economic report

General economic conditions

The global economy is adjusting to a landscape reshaped by new policy measures. Some extremes of higher tariffs were tempered, thanks to subsequent deals and resets. As a result, projections in the latest World Economic Outlook have been revised slightly upward, with global growth of 3.2% expected for 2025 (+0.2% vs. the July 2025 outlook). Even though the tariff shock has been smaller than originally announced, headwinds from uncertainty and protectionism persist. The overall environment remains volatile, and temporary factors that supported activity in the first half of 2025 - such as front-loading - are fading.

While emerging market and developing economies continued to drive the global economy with above 4% growth, the Chinese economy slowed in recent months. Signs are mounting that large-scale subsidies to the manufacturing sector have reached their limit and are contributing to significant misallocation of resources in the economy. Projections for the United States also remain subdued with expected growth of 2.0% as a result of pronounced policy uncertainty, high trade barriers, and lower growth in both the labour force and employment.

Similar issues impede growth in the euro area, where GDP growth slowed to 0.5% in the second quarter, from 2.3% in the first quarter. For 2025 overall, growth is projected to pick up modestly to 1.2%. The German economy stagnated in the third quarter and remains one of the lowest-performing industrial countries with a forecasted growth rate of 0.2% in 2025. If the economic conditions do not improve, the impact of the expansionary fiscal policy will be no more than a flash in the pan.

Market and market environment

Mobility

The global economic context remains particularly challenging and unpredictable for the automotive industry. Driven by rising demand for electric vehicles, the key regions nevertheless developed positively in the main in the third quarter.

China continued to expand its position as the largest market in the reporting period, with new registrations up 9.2%. In the USA, sales of cars and light commercial vehicles also grew by more than 4% in the reporting period due to a strong third quarter. Europe can look back on a successful third quarter, too, with a slight rise in new registrations of 0.9% year-on-year in the reporting period according to the sector association ACEA. In the commercial vehicle segment, only buses posted a rise (+3.6%) while there was a drop in new registrations of vans (-8.2%) and trucks (-9.8%).

In Germany, new registrations, exports and order intake all stagnated in the reporting period. Here too, the weakness was due to the combustion engine segment. Electric vehicles posted significant growth. The business climate in the automotive industry brightened considerably in the third quarter, albeit at a low level. The ifo sector index, which stood at -32.2 points in June 2025, was only -12.9 points in October 2025. While the situation is still considered negative, companies rated business expectations better than in the past two years. Thanks to rising demand, production capacity utilization climbed to 84.2%, the highest level this year.

Nevertheless, SMEs in the automotive industry are still facing major challenges. If there is neither economic impetus nor any improvement in Germany's international competitiveness, the situation could deteriorate further. Even now, according to a recent survey by the German sector association VDA, 80% of companies are deferring, relocating or cancelling planned investments in Germany.

Industry & Infrastructure

The global market for the electro and digital industry's products is also greatly affected by the trade conflicts and economic uncertainty. The German sector association ZVEI calculates that global growth in the market for electric and electronic products will be around 3% and thus below the long-term trend. Growth in China, the world's largest electrical and electronics market, is only moderate, as it is in the next largest markets, the USA, Japan and South Korea. The growth driver is India, which is expected to report a rise of 9% this year.

Germany looks set to lose market share, with ZVEI forecasting that real output will drop by 2% in 2025. This is supported by the trend so far this year. Up to and including August, inflation-adjusted real output of electrical and electronics goods in Germany was down 1.9% year-on-year. By contrast, aggregate sector revenue rose slightly, by 0.5%, in the same period. While sales to foreign customers were 3.1% higher, domestic sales fell by 2.5%.

The order growth observed in the second quarter recently slowed considerably again. Following a drop in July, a slight rise of 1.5% was registered in August. In the first eight months of 2025, orders increased by 3.3% overall, driven mainly by foreign demand. Capacity utilization in the sector was 76.3% at the beginning of the third quarter, which was slightly lower than it had been, but work on hand remained unchanged at 4.2 months.

The business climate in the electro and digital industry suffered a setback in the third quarter. Having risen four times in succession, sector sentiment deteriorated considerably in September 2025. Both the current situation (-10.9 points) and general business expectations (-7.8 points) are now clearly negative again. That is also affecting production plans. Only export expectations remain positive.

The German solar industry also reported a downturn in September with newly installed capacity of just 0.9 Gigawatt (GW). In all, the Federal Network Agency calculates that net installations amounted to around 11.8 GW in the first three quarters, slightly above the prior-year level of around 11.3 GW. In many other markets as well, demand has failed to keep pace with the expansion of production capacity, resulting in unsold inventories and corresponding price pressure. Nevertheless, the International Energy Agency projects a record global rise in installed capacity in 2025, mainly because of the development in China and India.

Significant events in the reporting period

Following the reduction in the trade credit insurance limit for a major customer in March 2025, an additional limit was agreed with another trade credit insurer in May 2025. This means that receivables from the major customer can once again be sold in full to the existing factor.

Mr. Bernhard Griesbeck resigned from his role as a member of the Board of Directors with effect from July 3, 2025. Until a decision is taken on a successor, Mr. Griesbeck's tasks will be taken on internally by the Chairman of the Board of Directors and the entire management team.

At the Annual General Meeting on July 8, 2025, the agenda included the routine election of the Supervisory Board. Long-standing members Mr. Udo Zimmer and Mr. Christian Fürst were elected to the Supervisory Board for a further five years. Dr. Michael Hönig was elected as successor to Mr. Werner Paletschek. As an experienced lawyer and businessman working for a family office, Dr. Hönig has proven expertise of the SME sector. Following the Annual General Meeting, the elected members of the Supervisory Board re-elected Mr. Zimmer as Chairman.

There were no other events of material significance for the company or its assets, financial position or results of operations in the reporting period.

Earnings, asset and financial position

Uncertainty remained high in the third quarter, resulting in continued sluggish demand and persistently volatile order offtake. In the Industry & Infrastructure segment, the difficult market situation for European producers was particularly evident for power components for inverters, where Chinese manufacturers are increasingly gaining a foothold on the European market. In the Mobility segment, the slightly positive trend seen in the previous quarter continued in the past three months. Demand for stators and antennas, in particular, remains stable, resulting in the extension of contracts and follow-on orders. Compared with the first six months, the drop in Group sales was reduced to less than 10% in the reporting period. Nevertheless, the level of orders on hand remains comparatively low, so building up new product groups and markets is especially important.

On the earnings side, despite continued successful costcutting measures and productivity gains, the reduction in volume sales had a disproportionately high impact in the reporting period. Non-cash currency losses in Mexico, ongoing consulting costs relating to the transformation and fluctuations in the product portfolio all played a part in this. As a consequence, EBIT was even more negative at the end of the first nine months.

Despite the negative effect of the high loss for the period, cash inflows from operating activities were clearly positive so far this year. That reflects the efforts to optimize working capital management. As a result of high repayments of principal, which was set against a low level of new debt, the total cash flow remained negative despite the reduction in capital expenditure. Therefore, liquidity management still has very high priority. The equity ratio declined slightly in the reporting period but remains at a solid level.

Earnings position

Group sales declined by 8.7% year-on-year to EUR 50.6 million in the first nine months of 2025 (9M 2024: EUR 55.4 million). The Industry & Infrastructure segment in particular continued the downward trend registered in the first quarters of the year. Sales of EUR 4.6 million correspond to a decline of 61.0% compared to the first nine months of 2024 (9M 2024: EUR 11.7 million). By contrast, sales in the Mobility segment were up 5.3% year-on-year at EUR 46.0 million (9M 2024: EUR 43.7 million).

In the reporting period, changes in the product mix, among other things, negatively affected the cost ratio. However, at 58.5% it remained at a low level (9M 2024: 55.0%). By contrast, there was a further slight decrease in the personnel expense ratio (including agency staff) from 25.1% to 23.8%. In spite of additional reporting and consulting costs incurred in connection with the ongoing restructuring measures, other operating expenses were clearly below the prior-year level at EUR 7.4 million (9M 2024: EUR 8.4 million).

Depreciation of property, plant and equipment and amortization of intangible assets amounted to EUR 4.9 million in the reporting period (9M 2024: EUR 5.0 million), and spending on research and development was EUR 1.8 million (9M 2024: EUR 2.1 million). Development work focused principally on new products in the e-solutions business and on innovative solutions for the newly defined business areas.

EBITDA (earnings before interest, taxes, depreciation and amortization) fell disproportionately year-on-year to EUR 2.8 million (9M 2024: EUR 4.6 million). As a result, the EBITDA margin of 5.5% was below the previous year's level (9M 2024: 8.2%). As in the previous year, EBIT (earnings before interest and taxes) was negative (minus EUR 2.1 million vs. minus EUR 0.4 million in the first nine months of 2024). At segment level, Mobility reported EBIT of minus EUR 1.2 million in the first nine months of 2025 (9M 2024: minus EUR 0.8 million) and the Industry & Infrastructure segment reported EBIT of minus EUR 0.9 million (9M 2024: positive EBIT of EUR 0.4 million).

The financial result was minus EUR 1.2 million in the reporting period (9M 2024: minus EUR 1.4 million). Tax income was EUR 34 thousand in the reporting period (9M 2024: EUR 75 thousand). Group net income was therefore minus EUR 3.3 million in the first nine months of 2025 (9M 2024: minus EUR 1.7 million). Earnings per share were minus EUR 0.76 (9M 2024: minus EUR 0.40).

After taking into account currency translation gains of EUR 0.5 million (9M 2024: losses of EUR 0.7 million) from the translation of foreign business operations, total comprehensive income was minus EUR 2.7 million in the first nine months of 2025 (9M 2024: minus EUR 2.4 million).

Non-current assets

Non-current assets decreased to EUR 29.9 million as of September 30, 2025 (December 31, 2024: EUR 33.0 million), primarily because property, plant and equipment declined from EUR 25.4 million to EUR 22.8 million due to lower capital expenditures. There was also a slight decrease in intangible assets to EUR 4.7 million (December 31, 2024: EUR 5.1 million), while at EUR 2.4 million deferred taxes remained at the year-end level (December 31, 2024: EUR 2.4 million).

Current assets

Current assets decreased to EUR 24.3 million as of September 30, 2025 (December 31, 2024: EUR 26.8 million). This was mainly attributable to the drop in inventories to EUR 13.9 million (December 31, 2024: EUR 15.9 million). Tax receivables also decreased slightly from EUR 0.8 million to EUR 0.6 million and other current receivables dropped from EUR 1.0 million to EUR 0.7 million. By contrast, trade receivables increased from EUR 6.4 million to EUR 7.4 million, while other financial assets remained at EUR 0.8 million. Cash and cash equivalents totalled EUR 0.9 million on September 30, 2025 (December 31, 2024: EUR 1.9 million).

Liabilities

Current liabilities decreased slightly to EUR 28.8 million in the reporting period (December 31, 2024: EUR 29.8 million). This was mainly due to the drop in financial liabilities from EUR 21.3 million to EUR 20.1 million. Trade payables also decreased slightly from EUR 3.3 million to EUR 3.1 million and tax liabilities decreased to EUR 2 thousand, (December 31, 2024: EUR 37 thousand). Other current provisions remained unchanged at EUR 1.5 million. By contrast, other current financial liabilities increased slightly from EUR 2.2 million to EUR 2.5 million and other current liabilities rose from EUR 1.6 million to EUR 1.7 million.

Non-current liabilities decreased from EUR 12.2 million to EUR 10.2 million as of September 30, 2025. In the reporting period, there was a decline in both non-current financial liabilities, which decreased to EUR 5.8 million (December 31, 2024: EUR 6.8 million), and other noncurrent financial liabilities, which decreased to EUR 2.6 million (December 31, 2024: EUR 3.5 million). At EUR 1.9 million, deferred taxes remained at the year-end level (December 31, 2024: EUR 1.9 million).

Equity

Equity decreased to EUR 15.1 million as of September 30, 2025 (December 31, 2024: EUR 17.8 million). This was attributable to the loss of EUR 2.4 million carried forward from the previous year (December 31, 2024: loss carryforward of EUR 0.1 million). The net loss for the period was EUR 3.3 million, compared to EUR 2.3 million for the 2024 financial year. In addition, the currency translation reserve changed from minus EUR 0.9 million to minus EUR 0.4 million. The capital stock of EUR 4.3 million, treasury shares of EUR 64 thousand, capital reserve of EUR 15.4 million and profit reserve of EUR 1.5 million were constant in the reporting period. Total assets decreased to EUR 54.2 million at the end of the first nine months of 2025 (December 31, 2024: EUR 59.8 million). The equity ratio declined from 29.8% to 27.9%.

Liquidity and cash flow statement

The net cash flow for operating activities amounted to EUR 3.9 million in the first nine months of 2025 (9M 2024: EUR 4.7 million). Improvements in working capital management thus could not fully offset the increase in the consolidated net loss for the period. Excluding tax expense and interest payments, there was a cash inflow from operating activities of EUR 4.9 million (9M 2024: EUR 5.9 million).

The net cash outflow for investing activities was EUR 1.7 million in the reporting period (9M 2024: outflow of EUR 2.5 million). Investment in intangible assets amounted to EUR 0.5 million (9M 2024: EUR 0.9 million) and investment in property, plant and equipment was EUR 1.2 million (9M 2024: EUR 1.7 million). As announced, capital expenditure was therefore once again reduced significantly. Based on the investment plan, expenditure of between EUR 1.0 million and EUR 1.5 million is planned for property, plant and equipment in 2025. Capital expenditure will be confined exclusively to new projects with corresponding sales volumes and a positive return on investment, for example, components for electrical equipment such as e-bikes.

The net cash outflow for financing activities was EUR 3.1 million in the first nine months of 2025 (9M 2024: EUR 1.6 million). In the reporting period, there were cash inflows of EUR 0.4 million from project-related loans (9M 2024: EUR 2.1 million) and EUR 1.1 million from the use of overdraft facilities (9M 2024: EUR 1.0 million), and cash outflows of EUR 3.7 million for the repayment of loans (9M 2024: EUR 3.8 million) and EUR 0.9 million for lease payments (9M 2024: EUR 0.8 million).

This resulted in a total cash outflow of EUR 0.9 million in the reporting period (9M 2024: inflow of EUR 0.6 million). Cash and cash equivalents were EUR 0.9 million as of September 30, 2025 (September 30, 2024: EUR 1.4 million). On the reporting date, InTiCa Systems had assured, undrawn credit facilities of EUR 2.2 million.

Employees

The headcount was 545 on September 30, 2025 (September 30, 2024: 603). 17 of these employees were agency staff (September 30, 2024: 17). On average, the Group had 558 employees in the reporting period (9M 2024: 666), including agency staff in both cases.

Risks and opportunities

The management report in the annual report for 2024 provides full details of risk factors that could affect the business performance of InTiCa Systems in section 4 "Risk management and risk report", while business potential is discussed in section 5 "Opportunities and management of opportunities". There was no material change in the risk/ opportunity profile of InTiCa Systems SE in the reporting period.

Outlook

The macroeconomic environment is still dominated by numerous risks. Prolonged uncertainty, more protectionism, and labour supply shocks could reduce growth. Fiscal vulnerabilities, potential financial market corrections, and erosion of institutional structures could threaten stability. On the upside, policies could help restore confidence and predictability, which would provide a significant lift to the global economy while AI could improve total factor productivity.

Moreover, the sector-specific context remains exposed to volatility. In Germany, car production and order intake declined significantly at the beginning of the fourth quarter. By contrast, there was a visible rise in new registrations, driven by demand for electric vehicles. However, expansion of the charging infrastructure, which is of relevance of the Industry & Infrastructure segment, remains sluggish. According to the VDA's ranking of the electric charging network, the pace of expansion has slowed recently. In all sectors, volatility remains high and market conditions are likely to remain challenging.

That also affects InTiCa Systems' order situation. At the end of the first nine months, orders on hand amounted to EUR 74.2 million, which was still far lower than in the prioryear period (September 30, 2024: EUR 86.0 million). 93% of orders were for the Mobility segment (September,30 2024: 92%). On the product side, demand for stators and antennas, in particular, is currently stable. For example, follow-on orders have recently been acquired and new enquiries are currently being processed. Contract extensions of up to ten years are presently being negotiated for major product groups. There has been a further significant increase in the local-to-local trend. US companies, in particular, are currently pushing this hard, which is opening up good opportunities for InTiCa's site in Mexico.

Nevertheless, the successful expansion into new business areas will be key to InTiCa's future development. In the Mobility segment, the focus is on stators and electric motors for alternative drives and for vehicles. Another area of focus is the commercial vehicle sector. Industry & Infrastructure is working resolutely on new areas such as power components (servomotors) for the charging infrastructure and small-scale stationary power generating facilities as well as on initial developments for high-power electric motors with potential, for example, for robotics. Here, InTiCa needs to achieve higher value-added and increase the sale of assemblies rather than individual components.

A new report published by IW Consult and the Federation of German Industries (BDI) on transformation pathways makes it very clear that electrification still offers enormous potential for growth and value creation, from AI-supported process automation through electrified heat supply to the transformation of drives in the vehicle sector. The Board of Directors considers that, as a solution provider that is not dependent on individual products but has long-standing expertise in key areas of technology as the basis for its future business development, InTiCa Systems is basically well-positioned to exploit the opportunities that arise.

Initial success is visible. Examples include interesting requests and development contracts for stationary power generating facilities (e.g. for data centres) and electric drives for maritime applications. However, these are currently very much in the early stages and they are not expected to make a significant contribution to sales this year. Overall, it is anticipated that order offtake will remain subdued in the fourth quarter.

To improve profitability at the present sales level, further savings in fixed costs and measures to enhance productivity are being implemented. Progress is being made in securing alternative suppliers in order to reduce material prices and customer approval has been obtained for a major component. Since the lead time is typically several months, the effect of the new supplier structure will probably be realized from mid-2026. Procurement is working on further optimization projects and most recently supply chains and the availability of materials were still intact. Working capital is also constantly being optimized and the liquidity situation is monitored closely. The current multi-year planning is fully financed.

However, a review of InTiCa's planning showed that the guidance for the present financial year needed to be revised. On the sales side, from the present perspective, Group sales are only expected to be at the lower end of the EUR 66.0 million to EUR 72.0 million range. Although the plans for the remainder of the year include high-margin sales, the shortfall in volumes is reflected in lower-thanforecast EBIT. While the Board of Directors previously anticipated that EBIT would be at the lower end of the minus EUR 0.5 million to plus EUR 1.5 million range, it now projects that it will be between minus EUR 1.5 million and minus EUR 2.5 million. So far, consulting costs and noncash currency losses have been lower in the second half of the year than in the first six months, but the reduction has not been as pronounced as had been anticipated. Where possible, the material cost ratio should be optimized further in both segments and the equity ratio should remain stable.

Further information on the segments can be found in the annual report for 2024 in section 6 "Outlook".

Consolidated interim financial statements in accordance with IFRS

The unaudited consolidated interim financial statements for InTiCa Systems SE and its subsidiaries as of September 30, 2025 have been drawn up in accordance with the International Financial Reporting Standards (IFRS), as applicable for use in the European Union, and the supplementary commercial law regulations set out in sec. 315a paragraph 1 of the German Commercial Code (HGB). No audit review has been conducted of the consolidated financial statements.

Forward-looking statements and predictions

This interim report contains statements and forecasts referring to the future development of InTiCa Systems SE, which are based on current assumptions and estimates by the management that are made using information currently available to them. If the underlying assumptions do not materialize, the actual figures may differ substantially from such estimates. Future performance and developments depend on a wide variety of factors which contain a number of risks and unforeseeable factors and are based on assumptions that may prove incorrect. We neither intend nor assume any obligation to update forward-looking statements on an ongoing basis as these are based exclusively on the circumstances prevailing on the date of publication.

Consolidated Balance Sheet

of InTiCa Systems SE in accordance with IFRS as of September 30, 2025

Assets	Sep 30, 2025 EUR ´000	Dec 31, 2024 EUR ´000
Non-current assets
Intangible assets	4,739	5,144
Property, plant and equipment	22,762	25,438
Deferred taxes	2,357	2,402
Total non-current assets	29,858	32,984
Current assets
Inventories	13,849	15,942
Trade receivables	7,452	6,449
Tax assets	619	813
Other financial assets	846	792
Other current receivables	692	998
Cash and cash equivalents	871	1,851
Total current assets	24,329	26,845
Total assets	54,187	59,829

Equity and liabilities	Sep 30, 2025 EUR ´000	Dec 31, 2024 EUR ´000
Equity
Capital stock	4,287	4,287
Treasury stock	-64	-64
General capital reserve	15,389	15,389
Profit reserve	1,479	1,479
Profit/loss carried forward	-2,386	-77
Consolidated net loss	-3,258	-2,309
Currency translation reserve	-350	-883
Total equity	15,097	17,822
Non-current liabilities
Interest-bearing non-current liabilities	5,826	6,827
Other liabilities	2,550	3,500
Deferred taxes	1,865	1,861
Total non-current liabilities	10,241	12,188
Current liabilities
Other current provisions	1,520	1,469
Tax payables	2	37
Interest-bearing current financial liabilities	20,069	21,283
Trade payables	3,092	3,286
Other financial liabilities	2,477	2,156
Other current liabilities	1,689	1,588
Total current liabilities	28,849	29,819
Total equity and liabilities	54,187	59,829
Equity ratio	27.9%	29.8%

Consolidated Statement of Profit and Loss and other Comprehensive Income

of InTiCa Systems SE in accordance with IFRS for the period from January 1 to September 30, 2025

	Q3 2025 EUR ´000	Q3 2024 EUR ´000	9M 2025 EUR ´000	9M 2024 EUR ´000	Change 2025 vs. 2024
Sales	16,150	15,987	50,586	55,403	-8.7%
Other operating income	397	1,117	992	2,234	-55.6%
Change in finished goods and work in progress	529	520	-518	-2,336	-
Other own costs capitalized	151	151	452	452	0.0%
Material expense	10,260	9,427	29,545	29,430	0.4%
Personnel expense	3,942	4,105	11,780	13,317	-11.5%
Depreciation and amortization	1,662	1,706	4,900	4,953	-1.1%
Other expenses	2,175	3,386	7,402	8,449	-12.4%
Operating profit (EBIT)	-812	-849	-2,115	-396	-
Cost of financing	375	432	1,177	1,405	-16.2%
Other financial income	0	0	0	0	-
Profit before taxes	-1,187	-1,281	-3,292	-1,801	-
Income taxes	-21	-22	-34	-75	-
Net profit / (loss) for the period	-1,166	-1,259	-3,258	-1,726	-
Other comprehensive income
Exchange differences from translating foreign business operations	300	-341	533	-707	-
Ohter comprehensive income, after taxes	300	-341	533	-707	-
Total comprehensive income for the period	-866	-1,600	-2,725	-2,433	-
Earnings per share (diluted/basic in EUR)	-0.27	-0.29	-0.76	-0.40	-
EBITDA	850	857	2,785	4,557	-38.9%

Consolidated Cash Flow Statement

of InTiCa Systems SE in accordance with IFRS for the period from January 1 to September 30, 2025

	Jan 1 - Sep 30, 2025	Jan 1 - Sep 30, 2024
	EUR ´000	EUR ´000
Cash flow from operating activities
Net profit for the period	-3,258	-1,726
Income tax expenditures / receipts	-35	-75
Cash outflow for borrowing costs	1,177	1,405
Income from financial investments	0	0
Depreciation and amortization of non-current assets	4,900	4,953
Other non-cash transactions
Net currency gains/losses	482	724
Increase/decrease in assets not attributable to financing or investing activities
Inventories Trade receivables	2,093 -1,003	2,306 -965
Other assets	202	673
Increase/decrease in liabilities not attributable to financing or investing activities
Other current provisions	51	616
Trade payables	-194	-1,627
Other liabilities	456	-369
Cash flow from operating activities	4,871	5,915
Cash outflow for income taxes	170	225
Cash outflow for interest payments	-1,161	-1,391
Net cash flow from operating activities	3,880	4,749
Cash flow from investing activities
Cash inflow from interest payments	0	0
Cash outflow for intangible assets	-499	-862
Cash outflow for property, plant and equipment	-1,189	-1,677
Net cash flow from investing activities	-1,688	-2,539
Cash flow from financing activities
Cash inflow from loans	402	2,110
Cash outflow for loan repayment installments	-3,688	-3,803
Cash inflow from the use of overdraft facilities	1,070	965
Cash outflow for liabilities under finance leases	-916	-848
Net cash flow from financing activities	-3,132	-1,576
Total cash flow	-940	634
Cash and cash equivalents at start of period	1,851	946
Impact of changes in exchange rates on cash and cash equivalents held in foreign currencies	-40	-164
Cash and cash equivalents at end of period	871	1,416

Consolidated Statement of Changes in Equity

of InTiCa Systems SE in accordance with IFRS for the period from January 1 to September 30, 2025

	Capital stock EUR ´000	Treasury stock EUR ´000	Paid-in capital EUR ´000	Profit reserve EUR ´000	Profit/loss carry forwards EUR ´000	Consoli dated net income EUR ´000	Currency translation reserve EUR ´000	Total equity EUR ´000
As of January 1, 2024	4,287	-64	15,389	1,479	1,051	-1,128	-187	20,827
Net result for 9M 2024	0	0	0	0	0	-1,726	0	-1,726
Other comprehensive income for 9M 2024	0	0	0	0	0	0	-707	-707
Total comprehensive income for 9M 2024	0	0	0	0	0	-1,726	-707	-2,433
Transfer of consolidated net profit/loss to profit/loss carryforward	0	0	0	0	-1,128	1.128	0	0
As of September 30, 2024	4,287	-64	15,389	1,479	-77	-1,726	-894	18,394
As of January 1, 2025	4,287	-64	15,389	1,479	-77	-2,309	-883	17,822
Net result for 9M 2025	0	0	0	0	0	-3,258	0	-3,258
Other comprehensive income for 9M 2025	0	0	0	0	0	0	533	533
Total comprehensive income for 9M 2025	0	0	0	0	0	-3,258	533	-2,725
Transfer of consolidated net profit/loss to profit/loss carryforward	0	0	0	0	-2,309	2,309	0	0
As of September 30, 2025	4,287	-64	15,389	1,479	-2,386	-3,258	-350	15,097

Accounting based on the International Financial Reporting Standards (IFRS)

The consolidated interim financial statements of InTiCa Systems SE as of September 30, 2025, prepared in accordance with International Accounting Standard (IAS) 34 "Interim Financial Reporting", use the same accounting policies and valuation methods as the consolidated financial statements for fiscal 2024, which were drawn up in accordance with the International Financial Reporting Standards valid as of the reporting date, as applicable for use in the European Union, and the relevant interpretations.

The consolidated interim financial statements have been prepared for the nine-month period ending on September 30, 2025. Comparative data refer to the consolidated financial statements as of December 31, 2024, or the consolidated interim financial statements as of September 30, 2024. The consolidated interim financial statements do not contain all information that would be required for a full set of annual financial statements. A detailed overview of the accounting and valuation principles applied can be found in the notes to the consolidated financial statements in the annual report for 2024. This is available at Investor Relations/Publications on the company's website at http://www.intica-systems.com/en.

The currency used to prepare the consolidated interim financial statements is the euro (EUR). Amounts are stated in thousands of euros (EUR '000) except where otherwise indicated.

Scope of consolidation

In addition to the parent company, InTiCa Systems SE, Passau, Germany, InTiCa Systems s.r.o., Prachatice, Czech Republic, Sistemas Mecatrónicos InTiCa S.A.P.I. de C.V., Silao, Mexico and InTiCa Systems TOV, Bila Tserkva, Ukraine are included in the consolidated financial statements. The Czech and Ukrainian subsidiaries are wholly owned companies, while InTiCa Systems SE holds 99% in the Mexican company and InTiCa Systems s.r.o. holds 1%. The annual financial statements and interim financial statements of the Group companies are drawn up as of the last day of the Group's fiscal year or the interim reporting period.

Compared with the 2024 financial year, there has been no change in the scope of consolidation of InTiCa Systems SE.

Currency translation

When preparing the financial statements for each individual Group company, business transactions in currencies other than the functional currency of that company (foreign currencies) are translated at the exchange rates applicable on the transaction date.

When preparing the consolidated interim financial statements, the assets and liabilities of the Group's foreign business operations are translated into euros (EUR) at the exchange rate applicable on the reporting date. Income and expenses are translated using the weighted average exchange rate for the period.

The following exchange rates were used for the consolidated financial statements:

		Closing rates
	Sep 30, 2025	Dec 31, 2024	Sep 30, 2024
	EUR 1	EUR 1	EUR 1
Czech Republic	CZK 24.340	CZK 25.185	CZK 25.180
USA	USD 1.172	USD 1.039	USD 1.119
Mexico	MXN 21.599	MXN 20.987	MXN 21.910
Ukraine	UAH 48.441	UAH 43.927	UAH 45.954
		Average rates
	Sep 30, 2025	Dec 31, 2024	Sep 30, 2024
	EUR 1	EUR 1	EUR 1
Czech Republic USA	CZK 24.827 USD 1.121	CZK 25.119 USD 1.082	CZK 25.076 USD 1.087
Mexico	MXN 21.581	MXN 19.871	MXN 19.230

Segment information

The notes to the consolidated financial statements in the annual report for 2024 contain a detailed overview of the assets allocated to each segment. There has not been any material change in the assets allocated to the segments since December 31, 2024.

Consolidated income statement / statement of comprehensive income

Group sales were EUR 50,586 thousand in the first nine months of 2025, down from EUR 55,403 thousand in the first nine months of 2024. While sales in the Mobility segment increased slightly, the Industry & Infrastructure segment recorded a significant decline compared to the prior-year period. EBITDA decreased from EUR 4,557 thousand to EUR 2,785 thousand. Group net income was minus EUR 3,258 thousand in the reporting period, compared with minus EUR 1,726 thousand in the first nine months of the previous year.

Consolidated balance sheet and cash flow statement

The capital stock of InTiCa Systems SE is EUR 4,287,000 and is divided into 4,287,000 no-par bearer shares with a theoretical pro rata share of the capital stock of EUR 1.00 per share. The equity ratio of around 27.9% as of September 30, 2025 (December 31, 2024: 29.8%) shows that the company is still soundly financed.

The net cash flow for operating activities was EUR 3,880 thousand in the first nine months of 2025 (9M 2024: EUR 4,749 thousand). The total cash outflow in the reporting period was EUR 940 thousand (9M 2024: inflow of EUR 634 thousand). Cash and cash equivalents therefore declined from EUR 1,851 thousand as of December 31, 2024 to EUR 871 thousand as of September 30, 2025. Equity and liabilities changed as follows in the reporting period: equity decreased to EUR 15,097 thousand (December 31, 2024: EUR 17,822 thousand) and noncurrent liabilities decreased to EUR 10,241 thousand (December 31, 2024: EUR 12,188 thousand). Current liabilities also decreased slightly to EUR 28,849 thousand (December 31, 2024: EUR 29,819 thousand). On the assets side of the balance sheet, non-current assets dropped to EUR 29,858 thousand (December 31, 2024: EUR 32,984 thousand), and current assets decreased to EUR 24,329 thousand (December 31, 2024: EUR 26,845 thousand).

Events after the reporting period

On November 20, InTiCa Systems SE reviewed its forecast for the current financial year and revised its guidance for 2025. As market conditions remain extremely challenging, Group sales are now only expected be at the lower end of the forecast range of between EUR 66 million and EUR 72 million, rather than in the middle. As a result of the sales shortfall, the operating result will be lower than forecast at between minus EUR 1.5 million and minus 2.5 million, not least because although consulting expenses and non-cash currency losses have so far been lower in the second half of the year than in the first six months, the reduction has not been as pronounced as had been anticipated.

Bernd Reichle assumed the function of CFO of InTiCa Systems SE on November 1, 2025. An experienced financial expert, his main responsibilities are Finance, Controlling and Procurement, but he is not a member of the Board of Directors.

No other reportable events have occurred since the reporting date on September 30, 2025.

Remuneration system of the Board of Directors and Supervisory Board

The remuneration system of the Board of Directors and the Supervisory Board is set out in detail in the Remuneration Report which will be available for download from the company's website at www.intica-systems.com in the section Investor Relations/Corporate Governance soon.

German Corporate Governance Code and corporate governance statement

The corporate governance statement for InTiCa Systems SE and the InTiCa Systems Group, which is required by sec. 289f and sec. 315d of the German Commercial Code (HGB), including the corporate governance report, is available on the internet at www.intica-systems.com in the section Investor Relations/Corporate Governance.

Related party transactions

No material transactions were conducted with related parties in the reporting period.

Other information

The capital stock of InTiCa Systems SE is EUR 4,287,000 and is divided into 4,287,000 no-par bearer shares, which constitute a theoretical pro rata share of the capital stock of EUR 1.00 per share. All shares have the same voting rights and dividend claims. The only exceptions are shares held by the company (treasury shares), which do not confer any rights on the company. The rights and obligations of the shareholders are set out in detail in the German Companies Act (AktG), in particular in sec. 12, sec. 53a et seq., sec. 118 et seq. and sec. 186.

Restrictions on the voting rights of shares could result from statutory provisions (sec. 71b and sec. 136 AktG). The Board of Directors is not aware of any other restrictions on the exercise of voting rights or the transfer of shares.

Under the provisions of German securities trading legislation, every investor whose proportion of the voting rights in the company reaches, exceeds or falls below certain thresholds as a result of the purchase or sale of shares or in any other way must notify the company and the Federal Financial Supervisory Authority (BaFin) thereof. The lowest threshold for such disclosures is 3%. Dr. Axel Diekmann (Germany) and Mr. Thorsten Wagner (Germany) have direct and indirect interests in the company's capital exceeding 10% of the voting rights.

There are no shares in InTiCa Systems SE with special rights according rights of control.

InTiCa Systems SE has not issued any shares that allow direct exercise of control rights.

The appointment and dismissal of members of the Board of Directors is governed by sec. 84 and sec. 85 of the German Companies Act (AktG) and sec. 5 of the articles of incorporation. Pursuant to the statutory provisions (sec. 179 paragraph 1 AktG) any amendment to the articles of incorporation requires a resolution of the General Meeting. Resolutions of the General Meeting are adopted on the basis of a simple majority vote except for amendments for which the German Companies Act stipulates a larger majority. Under sec. 8 paragraph 4 of the company's articles of incorporation, the Supervisory Board may make amendments to the articles of incorporation, providing these are merely editorial.

In addition, under sec. 3 paragraph 3 of the articles of incorporation, the Supervisory Board may alter the articles of incorporation in the event of a capital increase out of the authorized capital 2022/1 to bring them into line with the extent of the capital increase and may make any other amendments associated with this provided that these are merely editorial.

On the basis of the resolution of the Annual General Meeting of July 15, 2022, the Board of Directors is authorized to increase the capital stock with the Supervisory Board's consent, in one or more tranches, up to July 14, 2027, by a total of up to EUR 2,143,500.00 in return for cash or contributions in kind under exclusion of shareholders' subscription rights (authorized capital 2022). Further details are given in sec. 3 paragraph 3 of the company's articles of incorporation, which can be downloaded from the company's website at Company/Downloads [available in German only].

On the basis of the resolution of the Annual General Meeting of May 29, 2008, the company was authorized, until November 28, 2009, to repurchase up to 10% of the capital stock of 428,700 shares at the date of the resolution. This resolution was used to purchase 263,889 shares in the company. As of September 30, 2025, InTiCa Systems SE still had treasury stock amounting to 64,430 shares (September 30, 2024: 64,430).

On the basis of a resolution adopted by the Annual General Meeting on July 15, 2022, the company is authorized, up to July 14, 2027, to purchase its own shares, in one or more tranches, up to a total of 10% of the capital stock at the time of adoption of this resolution or, if the capital stock is lower when this authorization is utilized, of the capital stock at the time when it is utilized. The company has not yet used this authorization.

InTiCa Systems SE has an overdraft facility of EUR 3.0 million which gives the lender an extraordinary right of termination. This right takes effect if one other person acquires at least 30% of the borrower's voting rights and the parties cannot reach agreement on new terms.

There are no compensation agreements with either members of the Board of Directors or employees relating to a takeover bid.

Segment report as of September 30, 2025 Segment sales and segment earnings

Segment	Mobility		Industry & Infrastructure		Total
In EUR ´000	9M 2025	9M 2024	9M 2025	9M 2024	9M 2025	9M 2024
Sales	46,014	43,680	4,572	11,723	50,586	55,403
EBIT	-1,162	-755	-954	359	-2,116	-396

Key financial figures	9M 2025 EUR ´000 or %	9M 2024 EUR ´000 or %	Change 2025 vs. 2024
EBITDA	2,785	4,557	-38.9%
Net margin	-6.4%	-3.1%
Pre-tax margin	-6.5%	-3.3%
Material cost ratio (in terms of total output)	58.5%	55.0%
Personnel cost ratio	23.8%	25.1%
EBIT margin	-4.2%	-0.7%
Gross profit margin	41.5%	43.5%

"We hereby declare that, to the best of our knowledge and in accordance with the applicable reporting principles, the consolidated interim financial statements give a true and fair view of the assets, liabilities, financial position and profit or loss of the Group and that the interim management report for the Group includes a fair review of the development and performance of the business and the position of the Group, together with a description of the principal opportunities and risks associated with the expected development of the Group in the remainder of the financial year."

Passau, November 24, 2025

The Board of Directors

Dr. Gregor Wasle

Chairman of the Board of Directors

Financial Calendar 2025

November 25, 2025 Publication of Interim Financial Statements for Q3 2025

December 31, 2025 End of the financial year

Headquarter:

InTiCa Systems SE Spitalhofstraße 94 94032 Passau Germany

Phone +49 (0) 851 96692-0 Fax +49 (0) 851 96692-15

www.intica-systems.com info@intica-systems.com

Technologies for growth markets!