EANS-Adhoc: Kapsch TrafficCom releases results for fiscal year 2008/09
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annual report
08.06.2009
Revenues: + 8 % to EUR 200.3 million (previous year 2007/08: EUR 185.7 million) EBITDA: - 10 % to EUR 35.0 million (previous year: EUR 39.0 million) EBIT: - 17 % to EUR 29.0 million (previous year: EUR 34.9 million) Profit after tax: - 49 % to EUR 16.4 million (previous year: EUR 32.1 million) Earnings per share: EUR 1.06 (previous year: EUR 2.60) Dividend proposal: EUR 0.50 per share (previous year: EUR 0.90) - payout ratio: 47 % (35 %) Free cashflow: EUR 19.9 million (previous year: EUR - 14.8 million) Cash position as of 31 March 2009: + 27 % to EUR 60.2 million (31 March 2008: EUR 47.4 million)
Vienna, 8 June 2009 - Kapsch TrafficCom AG (ISIN AT000KAPSCH9), listed on the Vienna Stock Exchange in the prime market segment, reported an increase in consolidated revenues at reduced earnings in fiscal year 2008/09 as compared to the same period in the previous fiscal year 2007/08. Kapsch TrafficCom Group, the international supplier of innovative road traffic telematics solutions, generated a clear positive free cashflow and clearly advanced its cash position. The managing board will propose that the shareholders´ meeting resolve a dividend of EUR 0.50 per share for fiscal year 2008/09, representing a payout ratio of approximately 47 % (previous year: approximately 35 %).
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 by 8 % from EUR 185.7 million in the previous fiscal year to EUR 200.3 million in fiscal year 2008/09. By segment, the RSP segment reported an increase in revenues by 21 % to EUR 56.8 million (previous fiscal year: EUR 47.0 million) due to the realisation of projects in the Czech Republic, in Chile, Australia and New Zealand. The performance of the SEC segment remained strong, generating revenues of EUR 135.6 million, up by 5 % from EUR 128.8 million recorded 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 8.0 million, down from EUR 10.0 million during the previous fiscal year.
Due to a large investment in the expansion into new markets, particularly the U.S.A., EBITDA declined by 10 % compared to the previous fiscal year (2007/08: EUR 39.0 million) to EUR 35.0 million. EBIT also declined by 17 % to EUR 29.0 million (2007/08: EUR 34.9 million). Due to a negative financial result resulting from currency losses and the impairment of certain short-term financial assets (securities), profit before tax decreased by 49 % to EUR 21.9 million (2007/08: EUR 42.8 million) and profit after tax also decreased by 49 % to EUR 16.4 million (2007/08: EUR 32.1 million).
In accordance with the development of its profitability, Kapsch TrafficCom recorded a decline in its earnings per share to EUR 1.06 (2007/08: EUR 2.60 per share). Applying a consistent dividend policy, the managing board will propose that the shareholders´ meeting to be held on 24 June 2009 resolve a dividend of EUR 0.50 per share (2007/08: EUR 0.90).
Financial position and cashflows With total assets of EUR 324.5 million and total equity of EUR 134.2 million as of 31 March 2009, the Kapsch TrafficCom Group´s equity ratio was 41.4 % (31 March 2008: 44.7 %). The Kapsch TrafficCom Group clearly increased cash and cash equivalents in the past fiscal year: At EUR 60.2 million as of 31 March 2009 cash and cash equivalents were 27 % ahead of the EUR 47.4 million as of 31 March 2008. The free cashflow was improved to EUR 19.9 million compared to EUR - 14.8 million in the previous fiscal year.
Outlook With the fiscal year 2009/10 in mind, the company takes an optimistic long-term view on its markets even in a changed economic environment. The fiscal year 2009/10 will be shaped by participation in tenders and by project awards in Hungary, Slovenia, France, Portugal, South Africa, and in the U.S.A.
The annual report for the 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 220 references in 36 countries in all 5 continents, and with more than 14 million delivered on-board units (OBUs) and nearly 12,000 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.
end of announcement euro adhoc
Further inquiry note:
Marcus Handl
Investor Relations
Kapsch TrafficCom AG
Tel: +43 (0) 50 811 1120
Am Europlatz 2, A-1120 Vienna, Austria
E-mail: ir.kapschtraffic@kapsch.net
www.kapschtraffic.com
Branche: Technology
ISIN: AT000KAPSCH9
WKN:
Index: Prime.market
Börsen: Wien / official market