EANS-News: Kapsch TrafficCom AG ? Final Earnings for the first quarter 2018/19.
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Corporate news transmitted by euro adhoc with the aim of a Europe-wide
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Mid Year Financial Report
Vienna -
Zwtl.: Highlights.
* Delays in existing projects led to a decline in revenues and EBIT
* The order situation remains positive
* Decisions on the awarding of a number of major projects are expected by the
end of 2018
"Although the results of the first quarter are weaker than initially expected I
remain optimistic about the future. We have not lost any significant orders, but
there have been differences between the planned and current project progress in
some projects for various reasons - which were sometimes beyond our control. The
order situation remains positive and we also expect decisions on the awarding of
a number of major projects," said Georg Kapsch, CEO of Kapsch TrafficCom.
______________________________________________________________________________
|Unless stated | | | |
|otherwise, all | Q1 2017/18| Q1 2018/19| +/-|
|figures are in EUR| | | |
|million.__________|___________________|___________________|___________________|
|Revenues__________|______________164.3|______________158.2|______________-3.7%|
|EBIT______________|_______________11.7|________________7.1|_____________-39.3%|
|EBIT_margin_______|_______________7.1%|_______________4.5%|_____________-2.6%p|
|Earnings for the | 6.6| 2.5| -62.3%|
|period____________|___________________|___________________|___________________|
|Earnings per share| 0.52| 0.21| -60.3%|
|(EUR_)____________|___________________|___________________|___________________|
Vienna, August 23, 2018 - The final earnings for the first quarter of fiscal
year 2018/19 were published by Kapsch TrafficCom today and hardly deviate from
the preliminary revenues and operating result (EBIT) announced on July 24, 2018.
It was primarily delays in existing implementation projects (ETC segment) that
caused revenues in the first quarter of 2018/19 to decline by 3.7% to EUR 158.2
million as compared to this period in the previous year. Since the contribution
margins have also not yet been included in the results as planned, EBIT fell by
39.2% to EUR 7.1 million. This corresponds to an EBIT margin of 4.5%.
The project business accounts for a significant portion of Kapsch TrafficCom's
revenues (more than 25% in Q1 2018/19). It can occasionally happen that project
milestones are reached in a different quarter than planned. Sometimes even a
short delay (beyond the end of the reporting period) is enough to cause shifts
between quarters.
Furthermore, higher currency losses in the financial result and income taxes led
to a decline of more than 60% in the result for the period and to earnings per
share of EUR 0.21.
Zwtl.: Segment results.
In Q1 2018/19, 75.6% of the revenues were attributed to the ETC segment and 24.4
% to the IMS segment.
______________________________________________________________________________
|ETC (toll | | | |
|segment). | | | |
|Unless stated | Q1 2017/18| Q1 2018/19| +/-|
|otherwise, all | | | |
|figures are in EUR| | | |
|million.__________|___________________|___________________|___________________|
|Revenues__________|______________123.4|______________119.6|______________-3.1%|
|EBIT______________|_______________14.6|________________7.0|_____________-52.3%|
|EBIT_margin_______|______________11.9%|_______________5.8%|_____________-6.0%p|
Revenues in the ETC segment totaled EUR 119.6 million (-3.1%) and the EBIT
reached EUR 7.0 million (-52.3%). Since approximately 67% of Kapsch TrafficCom's
total revenues were generated in the EMEA region, a 7.4% drop in revenues could
not be offset by revenue increases in the regions of the Americas (+3.7%) and in
the APAC region (+19.7%).
The 3.3 million on-board units sold in the first quarter set a new record.
______________________________________________________________________________
|IMS (Intelligent | | | |
|Mobility | | | |
|Solutions). | | | |
|Unless stated | Q1 2017/18| Q1 2018/19| +/-|
|otherwise, all | | | |
|figures are in EUR| | | |
|million.__________|___________________|___________________|___________________|
|Revenues__________|_______________40.9|_______________38.6|______________-5.7%|
|EBIT______________|_______________-2.9|________________0.1|_______________n.a.|
|EBIT_margin_______|______________-7.1%|_______________0.3%|_____________+7.5%p|
Revenues in the IMS segment decreased by 5.7% to EUR 38.6 million. While
revenues in the EMEA region increased (+8.9%), they fell in the region of the
Americas (-17.8%) and in the APAC region (-46.7%). The IMS EBIT was positive for
the second quarter in a row (EUR 0.1 million).
Zwtl.: Free cash flow and balance sheet.
As a consequence of the lower earnings and changes in working capital, the free
cash flow in the first quarter amounted to EUR -12.2 million (Q1 2017/18: EUR -
4.3 million). The balance sheet continues to be strong - with an equity ratio of
37.6% as of June 31, 2018, exceeding the value as of March 31, 2018 (37.0%). A
net debt of EUR 5.8 million (March 31, 2018: net cash of EUR 16.2 million)
corresponds to a gearing ratio of 2.5%. Kapsch TrafficCom had total assets of
EUR 614.8 million as of June 30, 2018 (March 31, 2018: EUR 621.1 million).
Zwtl.: Event after the end of the quarter.
Kapsch TrafficCom increased its shareholding in Intelligent Mobility Solutions
Ltd., a joint venture in Zambia, to 51% already in May 2018. In August 2018, the
shareholders agreement was adapted giving Kapsch TrafficCom control over the
joint venture so that it will be fully consolidated going forward.
You can find the report on Q1 2018/19 at: http://kapsch.net/ktc/ir [http://
kapsch.net/ktc/ir]
Further inquiry note:
Press contact:
Alf Netek
Chief Marketing Officer & Press Officer
Kapsch Aktiengesellschaft
Am Europlatz 2
1120 Wien
Österreich
T +43 50 811 1700
alf.netek@kapsch.net
Alexandra Vieh
Head of Marketing and PR, Global
Kapsch TrafficCom AG
Am Europlatz 2
1120 Vienna
Austria
T +43 50 811 1728
alexandra.vieh@kapsch.net
Investor contact:
Mag. Hans Lang
Investor Relations Officer
Kapsch TrafficCom AG
Am Europlatz 2, 1120 Wien, Österreich
Tel.: +43 50 811 1122
E-Mail: 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 1 50811 1122
FAX: +43 1 50811 99 1122
mail: ir.kapschtraffic@kapsch.net
WWW: www.kapschtraffic.com
ISIN: AT000KAPSCH9
indexes:
stockmarkets: Wien
language: English