init innovation in traffic systems AG
euro adhoc: init innovation in traffic systems AG
quarterly or semiannual
financial statement
Consolidated net income nearly doubled -
init continues on record course
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
06.11.2006
The satisfactory upward trend of init innovation in traffic systems AG continues steadily. According to the preliminary figures published in the nine-month report, both sales and earnings revealed above-average growth at a high level. By the end of the third quarter, the net income nearly doubled on the prior-year period, aggregating 2.3 mill. Euro (previous year: 1.2 mill. Euro). As of September 30, 2006, earnings generated before interest and taxes (EBIT) totaled 3.3 mill. Euro (previous year: 2.2 mill. Euro) and thus proved well above projections.
In the third quarter, init managed to increase its sales figure by yet another 8 percent, from 7.3 mill. Euro in the previous year to 7.8 mill. Euro. With 24.6 mill. Euro, sales for the whole nine months thus exceed the prior-year figure (22.9 mill. Euro) by around 7 percent.
In terms of earnings before interest and taxes (EBIT), init realized a notable gain: at 1.0 mill. Euro, the past quarter made a significant difference up by around 70 percent as against the third quarter of 2005 (0.6 mill. Euro). Even after taxes, the figure rose by leaps and bounds to improve by an impressive 126 percent, from 285 TEuro in the prior-year period to 644 TEuro. This excellent performance was due not least to a significantly improved gross margin, coming in at 37.1 percent compared with 29.8 percent in the previous year.
At 52.9 mill. Euro, the level of orders as of September 30, 2006 rose to record levels (previous year: 23.2 mill. Euro). The cushion of existing orders will extend well beyond 2007 and forms the basis for considerable growth potential over the next few years.
Business projections for 2006 currently anticipate sales of around 37 mill. Euro and earnings before interest and taxes of 4.5 mill. Euro. Consequently, at the end of the third quarter, init is on course to achieve the best results in company history in terms of sales, EBIT and consolidated net income.
The full nine-month report of init innovation in traffic systems AG will be published on November 10.
end of announcement euro adhoc 06.11.2006 09:39:58
Further inquiry note:
Alexandra Weiß
Investor Relations
Telefon: +49(0)721 6100-102
E-Mail: aweiss@initag.de
Branche: Semiconductors & active components
ISIN: DE0005759807
WKN: 575980
Index: CDAX, Prime All Share, Technologie All Share
Börsen: Frankfurter Wertpapierbörse / regulated dealing
Börse Berlin-Bremen / free trade
Hamburger Wertpapierbörse / free trade
Baden-Württembergische Wertpapierbörse / free trade
Börse Düsseldorf / free trade
Niedersächsische Börse zu Hannover / free trade
Bayerische Börse / free trade