EANS-Adhoc: Kapsch TrafficCom AG preliminary results of the financial year 2019/20 clearly below expectations; proposed dividend reduced
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Disclosed inside information pursuant to article 17 Market Abuse Regulation
(MAR) transmitted by euro adhoc with the aim of a Europe-wide distribution.
The issuer is responsible for the content of this announcement.
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Annual Result/Dividend Announcements/Distribution/Earnings
20.04.2020
Vienna - The preliminary financial results for financial year 2019/20 show
revenues of approximately EUR 731 million, hence, below guidance.
The operating result ("EBIT") is expected to come out at about EUR -38 million.
Excluding one-off effects of about EUR -39 million, the expected EBIT would have
been slightly positive.
The one-off effects comprise: Impairments based on updated forecasts regarding
the further business in Zambia (about EUR -27 million), write-downs relating to
the early termination of the German infrastructure charge projects (about EUR -
7 million) as well as expenses to end the business activities of Streetline
(about EUR -3 million) and regarding the ending of operations of the toll
project in Czech Republic (about EUR -2 million). Other one-off effects (net)
are expected to amount to EUR -1 million.
In the operative business, significant additional costs for the challenging
implementation of new software applications into existing customer systems
caused major cost overruns.
The negative share price development of a financial investment (15.4% stake in
Q-Free ASA, Norway) had an impact of about EUR -6 million on the financial
result. Furthermore, exchange rate turbulences towards the end of the financial
year caused (almost exclusively unrealized) exchange rate losses of presumably
about EUR -9 million.
Due to the weak result for the period and as far as legally permissible, the
Executive Board intends to propose a reduced dividend of presumably EUR 0.25 per
share to the Annual General Meeting.
For financial year 2020/21, the management expects the EBIT to be clearly
positive again. Due to the current global situation (SARS-CoV-2), no concrete
guidance can be given for the time being.
Kapsch TrafficCom will announce the final results for the financial year 2019/20
on June 16, 2020.
Further inquiry note:
Press Contact:
Carolin Treichl
Executive Vice President Marketing & Communications
Kapsch TrafficCom AG
Am Europlatz 2,1120 Vienna, Austria
P +43 50 811 1710
carolin.treichl@kapsch.net
Markus Karner
Public Relations
Kapsch TrafficCom AG
Am Europlatz 2, 1120 Vienna, Austria
P +43 50 811 1705
markus.karner@kapsch.net
Investor Contact:
Hans Lang
Investor Relations Officer
Kapsch TrafficCom AG
Am Europlatz 2, 1120 Vienna, Austria
P +43 50 811 1122
ir.kapschtraffic@kapsch.net
end of announcement euro adhoc
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issuer: Kapsch TrafficCom AG
Am Europlatz 2
A-1120 Wien
phone: +43 50811 1122
FAX: +43 50811 99 1122
mail: ir.kapschtraffic@kapsch.net
WWW: www.kapschtraffic.com
ISIN: AT000KAPSCH9
indexes:
stockmarkets: Wien
language: English