EANS-Adhoc: Kapsch TrafficCom Decrease in revenues and negative EBIT in Q1 2020/21. No dividend for financial year 2019/20.
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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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Dividend Announcements/Distribution/Financial Figures/Balance Sheet
24.07.2020
Vienna - Based on preliminary numbers, Kapsch TrafficCom expects first quarter
2020/21 revenues of about EUR 138 million (previous year: EUR 186 million) and
an operating result (EBIT) of about EUR -11 million (previous year: EUR 5
million).
As already communicated in the course of the presentation of the results for
financial year 2019/20, the management expects that the challenges (and the
respective costs) regarding the personnel shortage in North America will
presumably last until the end of 2020. Furthermore, the management assumes that
additional expenses for the implementation of new software will probably be
incurred up to the first half of the year. These negative factors have turned
out to be much more severe than expected, as the yet available results for Q1
2020/21 show.
The significantly lower revenues and earnings compared to the first quarter of
the previous year are also a result of the expiry of major projects - operation
of the nation-wide toll system in Czech Republic and implementation of a nation-
wide toll system in Bulgaria - as well as of the tolling projects in Germany,
which have been terminated in the meantime.
Already a few weeks ago, Kapsch TrafficCom initiated a cost cutting and
efficiency program comprising both short-term measures and sustainable measures.
It is one aim of the program to mitigate the negative factors impacting the
results of the current financial year.
The final results for Q1 2020/21 will be published on August 12, 2020, as
scheduled. Until then, impairment tests are performed, based on updated
estimates, for various long-term assets (intangible assets including goodwill as
well as property, plant and equipment).
As a result of the international COVID-19-maeasures, the visibility regarding
new business is still very low. Because of this and because of the weak results
for the first quarter, the Executive Board decided to refrain from the initial
dividend proposal (EUR 0.25 per share) and to propose no dividend to the
ordinary Annual General Meeting on September 9, 2020.
Further inquiry note:
Press Contacts:
Carolin Treichl
Executive Vice President Marketing & Communications
Kapsch TrafficCom AG
Am Europlatz 2, 1120 VIENNA, AUSTRIA
T +43 50 811 1710
carolin.treichl@kapsch.net
Markus Karner
Public Relations
Kapsch TrafficCom AG
Am Europlatz 2, 1120 VIENNA, AUSTRIA
T +43 50 811 1705
markus.karner@kapsch.net
Investor Contact:
Hans Lang
Investor Relations Officer
Kapsch TrafficCom AG
Am Europlatz 2, 1120 VIENNA, AUSTRIA
T +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