EANS-Adhoc: Kapsch TrafficCom AG out of consideration in Hungary
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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
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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