EANS-Adhoc: Kapsch TrafficCom AG out of consideration in Hungary
17.12.2012 – 08:31
-------------------------------------------------------------------------------- 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. -------------------------------------------------------------------------------- Government Contracts/Company Information/Tollsystems, public tender, Hungary, 17.12.2012 Ad hoc Release Vienna, 17 December 2012 - Kapsch TrafficCom AG (ISIN AT000KAPSCH9), listed on the Vienna Stock Exchange in the prime market segment, informs that it is out of consideration for the invitation to tender concerning a nationwide toll collection system in Hungary. "It was our firm intention to supply the nation of Hungary with a toll collection system based on Global Navigation Satellite System (GNSS) technology to secure reliable toll revenue for many years to come. However, after evaluating the conditions of the invitation to tender in detail, we came to the conclusion that we must offer a feasible date for the system commissioning since the starting point required in the invitation to tender of July 1st, 2013, is not feasible based on our assessment and our experience in numerous system implementation projects around the world," says Erwin Toplak, Chief Operating Officer of Kapsch TrafficCom AG. "We did not make this decision lightly. We are always prepared to undertake a calculable risk. In the end, we made the decision for the good of the organization and our shareholders. We are committed to maintaining our reputation on the market and to avoid clouding the visibility of our company's development and its shares over the short and medium term. In consideration of the many potential projects around the world, we are nevertheless optimistic that the growth course of the Kapsch TrafficCom Group can be continued over the long term even without the revenue and profit contributions in this and the next fiscal year that were hoped for from the project in Hungary," says Georg Kapsch, Chief Executive Officer of Kapsch TrafficCom AG. Kapsch TrafficCom is a provider of high-performance intelligent transportation systems (ITS) in the application fields of toll collection, urban access management and traffic safety and security. Kapsch TrafficCom covers the entire value creation chain of its customers as a one-stop shop by providing products and components as well as subsystems as open market products, by integrating them into turnkey systems or by developing end-to-end solutions, including services for the technical and commercial operations of systems. Within its current core business of electronic toll collection (ETC), Kapsch TrafficCom designs, builds and operates ETC systems, in particular for multi-lane free-flow traffic. With 280 references in 41 countries on all continents and with almost 70 million on-board units delivered and about 18,000 lanes equipped, Kapsch TrafficCom has positioned itself among the internationally recognized suppliers of electronic toll collection worldwide. Kapsch TrafficCom is headquartered in Vienna, Austria, and has subsidiaries and representative offices in 30 countries. For additional information, please visit: {www.kapschtraffic.com}[HYPERLINK: http://www.kapschtraffic.com]. Follow us on Twitter: twitter.com/kapschnet Further inquiry note: Mag. Marcus Handl Investor Relations Officer Kapsch TrafficCom AG Am Europlatz 2 1120 Vienna, Austria Phone: +43 50.811 1120 E-mail: {ir.kapschtraffic@kapsch.net} [HYPERLINK: mailto:ir.kapschtraffic@kapsch.net] Press contact: Mag. Katharina Riedl Spokesperson Kapsch AG Am Europlatz 2 1120 Vienna, Austria Phone: +43 50.811 1705 E-mail: {katharina.riedl@kapsch.net} [HYPERLINK: mailto:katharina.riedl@kapsch.net] end of announcement euro adhoc -------------------------------------------------------------------------------- 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