euro adhoc: Kapsch TrafficCom AG
quarterly or semiannual financial statement /
Kapsch TrafficCom AG: first quarter of fiscal year 2007/08
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quaterly report
27.08.2007
Vienna, 27 August 2007 - Kapsch TrafficCom AG (ISIN AT000KAPSCH9) showed a significant improvement in respect of both revenues and earnings in the first quarter of the fiscal year 2007/08 which ended on 30 June 2007.
Significant increase in both revenues and earnings The start of operations of phase I of the nationwide truck tolling system in the Czech Republic on 1 January 2007 and a high level of components sales resulted in a significant increase of total revenues, which were EUR 33.8 million in the first three months of the current fiscal year compared to EUR 27.3 million in the same period last year, which is an increase by 24%. Thereof, the RSP segment (Road Solution Projects) contributed revenues of EUR 7.3 million, or 21.6% (Q1 2006/07: EUR 7.6 million). As a result of the start of commercial operations and the components sales of phase I of the nationwide truck tolling system in the Czech Republic in combination with follow-up business in Chile Kapsch TrafficCom's SEC segment (Services, System Extensions and Components Sales) revenues increased by more than 47%, from EUR 15.9 million to EUR 23.4 million (equal to a contribution of the SEC segment of 69.2% to total revenue). With EUR 3.2 million (Q1 2006/07: EUR 3.9 million) the third segment, OTH, (Others) accounted for 9.5% of total revenue.
Kapsch TrafficCom's first quarter adjusted EBITDA (earnings before interest, taxes, depreciation and amortisation) increased from EUR 4.0 million in the first quarter of the fiscal year 2006/2007 to EUR 5.3 million (or by 34%). Adjusted EBIT (earnings before interest and taxes) increased by 46% to EUR 4.4 million (compared to EUR 3.0 million in Q1 2006/07).
The adjusted EBIT for the RSP segment was EUR 0.1 million. The EBIT decline in this segment is largely attributable to preparatory work for the participation in tenders for upcoming large-scale projects in Central and Eastern Europe. The additional transaction volume of the operations, service and components business resulted in an increase of the SEC segment's EBIT by 77.3% to EUR 3.9 million. The OTH segment improved its EBIT by EUR 0.2 million due to a break- even result.
Kapsch TrafficCom's profit before tax increased from EUR 3.1 million to EUR 4.0 million. Profit after tax increased from EUR 2.2 million to EUR 2.9 million and the profit for the period went up from EUR 1.8 million to EUR 2.9 million.
Financial condition As a result of its successful IPO, Kapsch TrafficCom AG's balance sheet as at 30 June 2007 has undergone material changes. The IPO resulted in a significant improvement in the liquidity position (cash and cash equivalents of EUR 69.9 million greatly exceed the financial liabilities of EUR 28.2 million, which were reduced in the first three months of the fiscal year 2007/2008). The Group's liquid assets have increased by EUR 49.5 million due to the successful public offering, despite a reduction of financial liabilities by EUR 4.5 million and of current liabilities by EUR 8.4 million.
Equity increased to EUR 106.7 million, equal to an equity ratio of 39%. The Group's total assets amount of the balance sheet rose to EUR 275.8 million.
Outlook Assuming positive macroeconomic developments and based on the growing interest worldwide in toll systems solutions and traffic telematics, the management of Kapsch TrafficCom view its future prospects optimistically.
The quarterly report for the first quarter of the fiscal year 2007/08 can be downloaded at www.kapschtraffic.com at the Investor Relations Side.
Kapsch TrafficCom is an international supplier of innovative road traffic telematics systems, products and services. Its principle business is the development and supply of electronic toll collection (ETC) systems, in particular MLFF (multi-lane free-flow) ETC systems, and the technical and commercial operation of such systems. Kapsch TrafficCom also supplies traffic management systems, with a focus on road safety and traffic control, and electronic access systems and parking management. With more than 100 installed toll systems in 26 countries in Europe, Australia, Latin America, the Asian/Pacific region and South Africa, and more than nine million transponders
and 11,000 equipped lanes Kapsch TrafficCom has positioned itself among the market leaders in ETC systems worldwide. Kapsch TrafficCom is headquartered in Vienna, Austria, and has subsidiaries and representative offices in 18 countries.
This ad hoc release constitutes neither an offer to sell nor a solicitation to buy any securities. The securities have already been sold.
This ad hoc release is not being issued in the United States of America and
must not be distributed to U.S. persons (as defined in Regulation S
of the U.S. Securities Act of 1933, as amended ("Securities Act"))
or publications with a general circulation in the United
States. This press release does not constitute an offer or
invitation to purchase any securities in the United States. The
securities of Kapsch TrafficCom AG have not been registered under
the Securities Act and may not be offered, sold or delivered within
the United States or to U.S. persons absent from registration
under or an applicable exemption from the registration
requirements of the United States securities laws.This ad hoc release is directed only at persons (i) who are outside
the United Kingdom or (ii) who have professional experience in
matters relating to investments falling within Article 19(5) of the
Financial Services and Markets Act 2000 (Financial Promotion) Order
2005 (as amended) (the "Order") or (iii) who fall within
Article 49(2)(a) to (d) ("high net worth companies,
unincorporated associations etc.") of the Order (all such
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person who is not a Relevant Person must not act or rely on this
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available only to Relevant Persons and will be engaged in only with
Relevant Persons.end of announcement euro adhoc 27.08.2007 07:30:00
Further inquiry note:
Marcus Handl
Investor Relations
Kapsch TrafficCom AG
Wagenseilgasse 1,1120 Wien, Austria
phone: +43 (0) 50 811 1122
mail: ir.kapschtraffic @ kapsch.net
www.kapschtraffic.com
Branche: Technology
ISIN: AT000KAPSCH9
WKN:
Index: Prime.market
Börsen: Wiener Börse AG / official market