Ad-hoc | 20 February 2004 07:33

init anticipates 2003 sales and earnings to stay below previous year

Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– init anticipates 2003 sales and earnings to stay below previous year init innovation in traffic systems AG is expected to close the 2003 financial year with sales and earnings figures below prior year levels. Due in part to the devaluation of the US dollar, the reasons for this are found in the delay of a number of large-scale projects. These delays have led to a failure of sales and income originally calculated for 2003 to make the books by the end of the year. Thus, init now anticipates sales of just over 30 million Euro. The operating result (EBIT) will be below the prior-year figure, though clearly in the positive range. The provisional figures will be published within the next two weeks following the completion of the consolidated financial statements. The audited figures for the 2003 financial year, the full report of the Managing Board, and detailed prospects for 2004 will be published by init in time for the press conference on financial statements on March 29, 2004. For further details please contact Mr. Bernhard Schmidt phone +49 / 721 / 6100 398 or Mail ir@initag.de . end of ad-hoc-announcement (c)DGAP 20.02.2004 ——————————————————————————– WKN: 575980; ISIN: DE0005759807; Index: Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin- Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 200733 Feb 04