Ad-hoc | 31 October 2001 07:51

Init AG english

Init meets planned figures, increase in sales + 56 percent to 16.3 Mio. Euro Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Init meets planned figures Increase in sales + 56 percent to 16.3 Mio. Euro and EBIT to 0.91 Mio. Euro Karlsruhe. Init innovation in traffic systems AG listed at the Neuer Markt since 24th of July has scored gains in sales and results in the first nine months compared with last year. According to preliminary figures (US-GAAP), sales to the end of September have risen by about 56 percent to 16.3 Mio. Euro (last year: 10.5 Mio. Euro). The EBIT was improved to 0.91 Mio. Euro (last year: 0.17 Mio. Euro). Part of this improved earnings is INITs huge project for e-ticketing in Bremen. Business in North America of the US-subsidiary INIT Innovations in Transportation, Inc. with headquarters in Chesapeake (Virginia) is developing as expected. Traditionally, Init realizes about one half of sales in the last quarter of the year. Last year, 55 percent of the trade volume was settled in the last quarter. Since expenses are much smaller relative to the volume of sales in the last quarter, this should be taken into consideration when having a close look at the 9-months-report. According to the financial plan Init is expecting an increase in sales of more than 35 percent to 31.1 Mio. Euro for the year 2001 (2000: 22.9 Mio. Euro). The EBIT is expected to rise to 3.9 Mio. Euro (last year: 2 Mio. Euro). Because of the current positive business development and the high backlog of orders the company is confident to fulfil the anticipated goals in sales and returns. The complete 9-months-report of Init innovation in traffic systems AG should be published in mid-November. For further information please contact Mr. Bernd Gorenflo, telephone +49/721/6100-358 or mail ir@initag.de end of ad-hoc-announcement (c)DGAP 31.10.2001 ——————————————————————————– WKN: 575980; Index: Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, München und Stuttgart 310751 Okt 01