euro adhoc: Kapsch TrafficCom AG
Financial Figures/Balance Sheet
Kapsch
TrafficCom with significant increase in revenues, earnings and cash flow in the
first half of fiscal year 2008/09
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
6-month report
18.11.2008
Vienna, 18 November 2008 - Kapsch TrafficCom AG (ISIN AT000KAPSCH9), listed on the Vienna Stock Exchange in the prime market segment, reported a considerable increase in revenues and a disproportionate increase in earnings during the first half of fiscal year 2008/09 as compared to the same period in the previous fiscal year. The Kapsch TrafficCom Group generated a clear positive free cash flow and advanced its cash position significantly.
Revenues and earnings Improvements in both large segments - SEC (Services, System Extensions, Components Sales) and RSP (Road Solution Projects) - resulted in a considerable increase in revenues of Kapsch TrafficCom Group, up 58 % from EUR 68.8 million to EUR 108.5 million in the first six months of the current fiscal year compared to the same period of the previous fiscal year. Broken down by segment, the RSP segment reported an increase in revenues to EUR 40.2 million (first half of previous fiscal year: EUR 13.2 million) in the first half of the current fiscal year due to increased business volumes. The performance of the SEC segment remained strong, generating revenues of EUR 64.2 million during the first six months of the current fiscal year, 27 % up from EUR 50.4 million recorded during the same period in the previous fiscal year. This increase is primarily attributable to a significant increase in sales of components and recurring revenues from operations. The Others (OTH) segment recorded revenues of EUR 4.2 million for the first six months of the current fiscal year, down from EUR 5.2 million during the same period in the previous fiscal year.
For the same period, Kapsch TrafficCom Group is reporting improved earnings in excess of the increase in revenues. EBIT was up 173 % from EUR 6.7 million in the first half of the previous fiscal year to EUR 18.3 million in the same period of the current fiscal year. Profitability also improved, with the EBIT margin increasing from 9.8 % in the first six months of the previous fiscal year to 16.9 % in the first six months of the current fiscal year. The analysis by segment for the first six months of fiscal year 2008/09 shows the RSP segment increasing from EUR -0.8 million to EUR 4.9 million, the SEC segment´s EBIT growing from EUR 7.9 million to EUR 14.0 million (up 78 %), and the OTH segment with an EBIT of EUR -0.6 million.
Earnings per share in the first six months of the current fiscal year increased by 174 % from EUR 0.47 in the same period of the previous fiscal year to EUR 1.29.
Financial position and cash flows With total assets of EUR 340.5 million and total equity of EUR 138.3 million as of 30 September 2008, the Kapsch TrafficCom Group´s equity ratio was 40.6 %. Kapsch TrafficCom also clearly strengthened its financial position. In the first half of fiscal year 2008/09, the Kapsch TrafficCom Group improved the free cash flow by EUR 52.4 million from EUR -21.3 million in the first six months of the previous fiscal year to EUR 31.1 million in the same period of the current fiscal year. Cash and cash equivalents for the same period increased from EUR 47.4 million as of 31 March 2008 to EUR 77.5 million as of 30 September 2008, even though dividends of approximately EUR 11.0 million were paid and EUR 10.8 million were invested in the acquisition of the "Mobility Solutions" business of TechnoCom Corporation in the US. This reserve in liquidity serves as a basis to finance future projects or strategic acquisitions of companies.
Outlook The management takes an optimistic view on the Company´s markets even in a changed economic environment. Even if the growth rates above average in the first half year can presumably not be continued at the same level for the rest of the year, the management takes a positive view on the development of Kapsch TrafficCom in the second half of the fiscal year.
The interim report for the first half of fiscal year 2008/09 can be downloaded at www.kapschtraffic.com / Investor Relations / Financial information.
Kapsch TrafficCom is an international supplier of innovative road traffic telematics solutions. Its principle business is the development and supply of electronic toll collection (ETC) systems, in particular for the multi-lane free-flow (MLFF) of the traffic, 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 210 references in 33 countries in Europe, Australia, Latin America, in the Middle-East, in the Asian/Pacific region and in South Africa, and with almost 13 million delivered on-board units (OBUs) and nearly 11,300 equipped lanes, Kapsch TrafficCom has positioned itself among the leading suppliers of ETC systems worldwide. Kapsch TrafficCom is headquartered in Vienna, Austria, and has subsidiaries and representative offices in 22 countries.
Disclaimer 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 and the information it contains are
not for publication in the United States of America (U.S.A.) and may
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U.S. Securities Act ("Securities Act") of 1933, as amended) or to
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exchange announcement does not constitute an offer for the sale of
securities or solicitation of an offer to purchase securities in the
U.S.A. The securities of Kapsch TrafficCom AG have not been
registered under the provisions of the Securities Act and may not be
offered, sold or delivered to U.S. persons without prior registration
under or exemption from the registration requirements. This ad-hoc
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Promotion) Order 2005 (the "Order"), as amended, or (iii) who are
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transacted with Relevant Persons.end of announcement euro adhoc
Further inquiry note:
Marcus Handl
Investor Relations
Kapsch TrafficCom AG
Tel: +43 (0) 50 811 1122
Wagenseilgasse 1, A-1120 Vienna, Austria
E-mail: ir.kapschtraffic@kapsch.net
www.kapschtraffic.com
Branche: Technology
ISIN: AT000KAPSCH9
WKN:
Index: Prime.market
Börsen: Wiener Börse AG / official market