EANS-Adhoc: Kapsch TrafficCom AG
Kapsch TrafficCom releases results for the
third quarter of fiscal year 2010/11
-------------------------------------------------------------------------------- ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide distribution. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------------
9-month report
28.02.2011
Vienna, 28 February 2011 - Kapsch TrafficCom AG (ISIN AT000KAPSCH9), listed on the Vienna Stock Exchange in the prime market segment, increased revenues of the Kapsch TrafficCom Group by 74 % and more than tripled the operating result (EBIT) in the first three quarters of fiscal year 2010/11 compared with the same period of the previous fiscal.
Revenues and earnings In the first three quarters of fiscal year 2010/11 (1 April 2010 to 31 December 2010), the Kapsch TrafficCom Group generated revenues of EUR 258.5 million, an increase of 74 % compared with the same period of the previous fiscal year (EUR 149.0 million). Hence, revenues after nine months already exceeded the full last fiscal year (EUR 216.0 million). With EUR 23.2 million, EBIT more than tripled after nine months compared with the same period during the previous fiscal year (EUR 6.6 million) and almost reached the full last fiscal year (EUR 24.5 million). In relation to revenues, the Kapsch TrafficCom Group generated an EBIT margin of 9.0 % compared with 4.4 % during the same period in the previous fiscal year.
By segment, the segment SEC (Services, System Extensions, Components Sales), which accounts for the recurring part of the business of the Kapsch TrafficCom Group, showed an excellent performance. With EUR 147.8 million, revenues increased by 26 % after nine months compared with the same period during the previous fiscal year. The on-board units (OBUs) business remained strong at approximately 2.9 million units (previous year: approximately 2.5 million units) delivered. The EBIT of the segment SEC slightly decreased to EUR 27.4 million (previous year: EUR 27.9 million) after nine months, representing an EBIT margin of 18.5 % (previous year: 23.7 %).
At EUR 105.9 million after nine months, the second large segment RSP (Road Solution Projects), which contains the project business, more than quadrupled revenues compared with the same period during the previous fiscal year (EUR 25.2 million). During the same period, the EBIT of this segment improved considerably from EUR -21.3 million in the previous fiscal year to EUR -4.5 million in the current fiscal year. This improvement was largely attributable to the progress of the project in South Africa and the start of the system implementation in Poland.
Financial position and cash flows The balance sheet clearly changed after the placement of a 4.25 % corporate bond with a tenor of seven years and a volume of EUR 75 million on 3 November 2010. The equity ratio was at 40.8 % as of 31 December 2010 (31 December 2009: 52.3 %). While the free cash flow was negative at EUR -21.2 million in the first half of this fiscal year, it turned back clearly positive to EUR 16.3 million on an accumulated basis after nine months.
Outlook The last quarter of the current fiscal year 2010/11 will be shaped by the projects in South Africa and Poland, the preparation for the expected tenders in Hungary, Slovenia and Denmark as well as the integration of MARK IV IVHS in North America which was acquired in November 2010.
The report on the third quarter of fiscal year 2010/11 can be downloaded at www.kapschtraffic.com/Investor Relations/Financial information.
end of ad-hoc-announcement ========================================== ====================================== Kapsch TrafficCom is an international supplier of superior intelligent transportation systems (ITS). 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, as well as electronic access systems and parking management. With more than 250 references in 41 countries on all 5 continents, and with more than 42 million on-board units (OBUs) delivered and approximately 17,200 lanes equipped, 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 29 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 not be distributed to U.S. persons (as defined in Regulation S of the U.S. Securities Act (Securities Act) of 1933, as amended) or to publications with a general circulation in the U.S.A. This stock 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 release is exclusively addressed to persons (i) outside the United Kingdom, or (ii) who are investment professionals for the purposes of article 19(5) U.K. Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the Order), as amended, or (iii) who are included under article 49(2)(a)(d) of the Order (high net worth companies, unincorporated associations, etc.). All such persons are hereinafter referred to as Relevant Persons. No person who is not a Relevant Person may take action on the basis of this press release or the information contained herein or rely thereon. Investment or investment activities in connection with this press release are only available to Relevant Persons, and investment business will only be transacted with Relevant Persons.
end of announcement euro adhoc --------------------------------------------------------------------------------
Contact:
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