init innovation in traffic systems AG
EANS-News: init innovation in traffic systems AG
init affirms positive outlook
for 2013:
For the first time revenues will exceed the EUR 100 million mark
-------------------------------------------------------------------------------- Corporate news transmitted by euro adhoc. The issuer/originator is solely responsible for the content of this announcement. -------------------------------------------------------------------------------- annual report Karlsruhe/Frankfurt, 28 March 2013 (euro adhoc) - Record order backlog of EUR 177 million sustainably holds on to good growth prospects Incoming orders should once again be over EUR 100 million in the current year New growth potential in the rail sector and in Asia In 2013 init innovation in traffic systems AG (ISIN DE 0005759807) is preparing to exceed the EUR 100 million mark in revenues for the first time after nine consecutive growth years. "With a record order backlog of EUR 177 million we have already secured a majority of revenues for 2013 and 2014. Therefore, in our planning for 2013 we are currently assuming an increase in revenues to EUR 105 million with a operating performance (EBIT) of EUR 18 million," init founder and chairman of the Managing Board Dr. Gottfried Greschner affirmed the positive outlook of the company today when presenting the annual report for 2012. The system house based in Karlsruhe also expects incoming orders of more than EUR 105 million again for the year 2013, which is generally expected to be a very difficult economic year. With integrated solutions for telematic, planning and electronic payments systems, today init is a sought-after partner for transportation companies on four continents for the development of their intelligent infrastructures. "We can expand our range of services technologically and regionally on this foundation and in so doing, appropriately participate in the expected growth of our industry," said Greschner. The number of passengers using public transport systems will double worldwide by 2025. "This too makes our market very, very exciting and opens up sustainable growth potential for init." By 2018 Asia-Pacific could become init's largest market The Managing Board of init sees sustainable growth potential in the future above all in the Asian-Pacific region. For this reason, INIT Asia-Pacific Pte. Ltd. took up its work in Singapore in November 2012 and is to participate in large upcoming tenders in this region. "Judging by the response to our initial ac-tivities, our chances are good in this region for making more revenues in five years' time than in our currently largest market North America. But we will also be seeing larger tenders in Europe and in the Middle East in the short term," Greschner emphasized. Furthermore, init is preparing its entry into the rail sector. An innovative, sensor-based and effective passenger counting system was developed especially for this new business field. It is characterized by high accurateness, thus creating new options for rail operators to optimise their vehicle use and service offers. Consistent dividend for financial year 2012 Due to its intact growth perspective and the continued excellent liquidity position, the Managing Board also intends to propose to the Annual General Meeting of init innovation in traffic systems AG on 16 May 2013 the same high dividend of EUR 0.80 per no-par-value share, even though the earnings per share in 2012 - above all due to a higher tax rate - fell to EUR 1.11 (2011: EUR 1.51). "We intend to continue to pay our shareholders a proper dividend and in future years we will strive to increase it again as earnings rise," said Greschner. In the report about the financial year 2012 just ended, Greschner expressed his satisfaction overall despite the drop to EUR 10.9 million in the consolidated net profit (2011: EUR 15.1 million). "We have reached our goals for revenues, but what particularly counts is that we significantly increased our order volume to EUR 177 million (2011: EUR 117 million). That means that we are clearly on a course of growth," said the Chairman of the Managing Board. In comparing with the previous year it has also to be taken into account that in 2011 the EBIT was affected by two special factors, namely the reversal of the risk provision for Dubai and the appreciation, as prescribed by IFRS, of the company shares held by init resulting from the complete takeover of id systeme GmbH. These special effects made up a total of around EUR 3 million in 2011. Taken this into account, init did not perform worse operationally in 2012 than in the previous year. As already reported ad hoc on 6 March, the EBIT came to EUR 17.3 million (previous year: EUR 20.4 million). This also reflects investment costs for new markets such as Asia and France, production start-up costs of the newly established US subsidiary SQM (Superior Quality Manufacturing, LLC) in the amount of EUR 0.4 million, an unscheduled loss by the subsidiary CarMedialab in the amount of EUR 0.5 million, and a value adjustment for accounts receivable in Dubai amounting to EUR 0.6 million. As already reported, the group revenues of init in the financial year ended increased by 9.6 percent to EUR 97.3 million (2011: EUR 88.7 million). At the same time, the group's incoming orders amounted to a record figure of EUR 152.2 million (2011: EUR 81.4 million). The annual report of init innovation in traffic systems AG is now available on the Internet at www.initag.de as well as on the website of the Deutsche Börse. Further inquiry note: Simone Fritz Investor Relations Tel.: +49 (0)721/6100-115 mailto:ir@initag.de end of announcement euro adhoc -------------------------------------------------------------------------------- company: init innovation in traffic systems AG Käppelestraße 6 D-76131 Karlsruhe phone: +49(0)721 6100-0 FAX: +49(0)721 6100-399 mail: info@initag.de WWW: http://www.initag.de sector: Semiconductors & active components ISIN: DE0005759807 indexes: CDAX, Prime All Share, Technology All Share stockmarkets: free trade: Hannover, Berlin, München, Hamburg, Düsseldorf, Stuttgart, regulated dealing/prime standard: Frankfurt language: English