EANS-Adhoc: Kapsch TrafficCom finished a weak fiscal year 2012/13 with an
outstanding fourth quarter
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ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide
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announcement.
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Financial Figures/Balance Sheet/Company Information
11.06.2013
- The company has passed through a transition period on the way to new projects
and structures
- Revenue and earnings are below expectations, but the balance sheet
demonstrates financial potential
- Proposed dividend of EUR 0.40 corresponds to a 54% payout ratio
- Strategy and organizational structure are aligned with further growth on the
ITS market
_________________________________________________________________________
|
|1_April-31_March_____|___2012/13____|_________+/-_________|___2011/12____|
|
|Revenues (in million | 488.9 | -11 % | 549.9 |
|EUR)_________________|______________|_____________________|______________|
|
|EBIT_(in_million_EUR)|_____15.3_____|________-64_%________|_____42.2_____|
|
|Profit for the period| 16.7 | -39 % | 27.5 |
|(in_million_EUR)_____|______________|_____________________|______________|
|
|Earnings per share | 0.74 | -54 % | 1.62 |
|(in_EUR)*____________|______________|_____________________|______________|
|
|Dividend per share | 0.40** | -56 % | 0.90 |
|(in_EUR)_____________|______________|_____________________|______________|
* Earnings per share 2012/13 relate to 13.0 million shares, 2011/12 relate to a
weighted average number of 12.74 million shares
** Proposal of the executive board subject to approval of the shareholders?
meeting on 12 September 2013
Vienna, 11 June 2013 -Kapsch TrafficCom AG (ISIN AT000KAPSCH9), listed on the
Vienna Stock Exchange in the prime market segment, is reporting on its fiscal
year 2012/13 as a transition period in terms of projects and the company's
organizational structure, which was retooled during the reporting period for the
planned continuation of growth.
The Kapsch TrafficCom Group made significant progress during the past fiscal
year, although the investments in the future as well as project delays led to
lower revenues with simultaneously high expenditures. The earnings figures of
the reporting year therefore lie clearly below the targets of the executive
board.
The revenue in the fiscal year 2012/13 was EUR 488.9 million, which is 11.1 %
below the previous year's value of EUR 549.9 million. This decline reflects, on
one hand, the fact that the major installation projects in Poland and South
Africa were already completed but the new projects were of smaller overall
volume and only began contributing revenue as of the second half of the year. On
the other hand, the operation revenues in Poland and South Africa were still
significantly below expectations since the completed system in South Africa did
not go into operation by the end of the fiscal year and the revenues earned in
Poland reached the expected levels only as of the third quarter.
Only in the fourth quarter did the improved system operation in Poland together
with progress in the project in Belarus enable a significant increase in
revenue, making the quarterly earnings more than satisfactory at EUR 24.9
million. For the entire year, the EBIT was EUR 15.3 million, following EUR 42.2
million in the previous year. This puts the EBIT margin at 3.1 %, considerably
below the previous year's value of 7.7 %.
The executive board will recommend to the annual general meeting on 12 September
2013, the payment of a dividend of EUR 0.40 per share (2011/12: EUR 0.90 per
share) for the fiscal year 2012/13. The payout ratio is therefore roughly 54 %
(2011/12: roughly 57 %).
The balance sheet of the Kapsch TrafficCom Group paints an extremely solid
picture. The conclusion of the system implementation in Poland and the
associated payment of the last milestone from construction of the system in the
first quarter of the reporting year led to noticeable improvements compared with
the balance sheet date of 31 March 2012. The free cash flow, which was negative
in the comparison period, amounted to EUR 48.3 million at the end of the
reporting year. This confirms that Kapsch TrafficCom has the necessary financial
potential for the planned growth.
The fiscal year 2013/14 will be marked by a continuation of the existing
projects. In particular, the further developments in South Africa will influence
the revenue and earnings situation. In addition, an invitation to tender has
already begun in Slovenia. Kapsch TrafficCom expects additional tenders in
Belgium and the U.S.A. Extensive toll systems are under discussion in Bulgaria,
Russia and the surrounding countries as well as in Germany, and these
discussions are also being followed with great interest.
An overview of the fiscal year 2012/13 (key aspects and figures) can be found at
http://www.kapsch.net/ktc/investor_relations/reports/download/KTC_Key-
Aspect_FY13?lang=en-US. The annual financial statements and the annual report
will be published sooner than planned on 14 June 2013 (instead of 26 June 2013).
Further inquiry note:
Marcus Handl
Investor Relations Officer
Kapsch TrafficCom AG
Am Europlatz 2
1120 Vienna, Austria
phone: +43 50.811 1120
email: {ir.kapschtraffic@kapsch.net}
[HYPERLINK: mailto:ir.kapschtraffic@kapsch.net]
Press contact:
Katharina Riedl
Unternehmenssprecherin
Kapsch AG
Am Europlatz 2
1120 Vienna, Austria
phone: +43 50.811 1705
email: {katharina.riedl@kapsch.net}
[HYPERLINK: mailto:katharina.riedl@kapsch.net]
end of announcement euro adhoc
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issuer: Kapsch TrafficCom AG
Am Europlatz 2
A-1121 Wien
phone: +43 1 50811 1122
FAX: +43 1 50811 99 1122
mail: ir.kapschtraffic@kapsch.net
WWW: www.kapschtraffic.com
sector: Technology
ISIN: AT000KAPSCH9
indexes: Prime Market
stockmarkets: official market: Wien
language: English