init innovation in traffic systems AG
euro adhoc: init innovation in traffic systems AG
quarterly or semiannual
financial statement
init quadruples quarterly net profit and almost doubles
sales
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
9-month report
07.11.2007
init innovation in traffic systems AG has finished yet another record quarter. From July to the end of September, quarterly sales for the company virtually doubled from 7.8 mio. EUR in the previous year to 15.1 mio. EUR. At the same time, the final figures now available revealed an increase in gross profit on sales from 2.8 to 5.5 mio. EUR. The earnings before interest and taxes on income (EBIT) in the same period more than trebled from 1.0 to 3.3 mio. EUR. Even more significant was the increase in net earnings for the period, rising to 2.6 mio. EUR, after 0.6 mio. EUR in the previous year. This corresponds to earnings per share of 0.26 EUR (Q3 2006: 0.07 EUR).
After the first nine months of fiscal 2007, the Karlsruhe-based telematics specialist for buses and light railways thus managed to exceed earlier projections. Over the nine-month period, revenues improved by 40 percent on the previous year to 34.5 mio. EUR (2006: 24.6 mio. EUR). The EBIT rose by around 36 percent to 4.5 mio. EUR (2006: 3.3 mio. EUR), while the consolidated surplus increased by 50 percent to 3.4 mio. EUR (2006: 2.2 mio. EUR). With earnings per share of 0.35 EUR (end of September 2006: 0.23 EUR) init matched the prior-year level for the full 2006 fiscal year (0,36 EUR) after only nine months.
In the third quarter, it was predominantly the start of hardware deliveries for major projects in New York and Vancouver that ensured above-average earnings growth. For the same reason, init again expects sales in the fourth quarter to range in the two-digit millions. Thus, the sales target set for 2007 of some 45 mio. EUR (2006: 36.3 mio. EUR), with earnings before interest and taxes (EBIT) of 6.5 mio. EUR (2006: 5.6 mio. EUR), will probably, if not certainly be reached.
According to the projections of the Managing Board, the company is set for above-average growth in 2008. This is confirmed not only by the current order volume of 90.1 mio. EUR (end of September 2006: 52.9 mio. EUR) but also by promising invitations to tender, such as in Australia and Europe, are also a likely contributing factor for init.
end of announcement euro adhoc 07.11.2007 08:27:12
Further inquiry note:
Alexandra Weiß
Investor Relations
Telefon: +49(0)721 6100-102
E-Mail: aweiss@initag.de
Branche: Semiconductors & active components
ISIN: DE0005759807
WKN: 575980
Index: CDAX, Prime All Share, Technologie All Share
Börsen: Börse Frankfurt / regulated dealing/prime standard
Börse Berlin / free trade
Börse Hamburg / free trade
Börse Stuttgart / free trade
Börse Düsseldorf / free trade
Börse Hannover / free trade
Börse München / free trade