Corporate | 16 May 2013 17:30

init innovation in traffic systems AG: init Annual General Meeting in Karlsruhe

init innovation in traffic systems AG / Key word(s): AGM/EGM/AGM/EGM

16.05.2013 / 17:30

Shareholders pleased about share price and growth prospects

– Dividend unchanged at EUR 0.80 per share

– Order backlog 43 per cent higher than previous year

– Revenues target of EUR 105m set for 2013 (2012: EUR 97.3m)

– init will develop Asia and Arabia as new growth market

Karlsruhe, 16 May 2013. Shareholders of init innovation in traffic systems AG (ISIN DE 0005759807) were pleased to learn about the company’s ongoing positive growth prospects and that the dividend will remain unchanged at EUR 0.80 per share. Although the Management Board narrowly missed getting the unanimous backing it had sought for its policies, with 98.5 per cent approval for the grant of discharge this year, there was no shortage of praise and applause for both managers and the workforce at this year’s Annual General Meeting. init continues on the right track. Revenues, incoming orders and share price are still out. In spite of all the excellent results you can be proud of, especially of the employees,’ the shareholder representatives

init’s founder and long-standing chairman, Dr. Gottfried Greschner, had previously made clear that the growth trend remains upwards following nine straight years of growth for the company, which now sells traffic telematics and electronic fare collection systems on four continents.

‘In 2013 we will in all likelihood generate revenues in excess of EUR 100 million for the very first time’, he predicted. ‘Furthermore, we have already guaranteed the bulk of our revenues for 2014 thanks to record-high order backlog of EUR 178m. Although the 2013 financial year is generally expected to be a very tough one, we are once again expecting new orders worth more than EUR 105m, which will help us maintain our long-term growth.’

init systems control largest vehicle fleets
Thanks to its integrated telematics, planning and electronic fare collection solutions, init is a globally sought-after partner of transport companies seeking to expand their intelligent infrastructure. init hardware and software control the world’s largest local public transport fleets. Major projects currently underway include those with the Rheinbahn/VIA in Düsseldorf and Essen (more than 1,500 vehicles), Luxembourg (more than 900 buses) and Montreal (approx. 2,000 buses). init is also securing itself new market potentials through innovations such as the fully-integrated systems solution MOBILE, which covers and simultaneously optimises a transport company’s entire supply chain within a closed IT circuit, as well as a new on-demand service management solution for which an app was specially developed to provide drivers with all the information they need via their smartphones.

The challenge: Asia
The Chairman told the meeting that the expansion of init’s sales operations in the Asia-Pacific region would be the greatest challenge facing the company in the years ahead. ‘Responses to our initial activities suggest that within five years we could be generating higher revenues there than in North America, which is currently our largest market’, he said confidently. To this end, INIT Asia-Pacific Pte. Ltd began operating in Singapore in November 2012 with the intention of participating in forthcoming major tenders in this region. In addition, there is great need for investment in major cities in the Arab world with good opportunities for init in upcoming tenders

In view of this development, the init Board is confident that it can follow up on 2012, which was the company’s most successful year ever on the stock exchange, not only maintaining but even increasing its unprecedentedly high share price.

End of Corporate News

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Language:	English
Company:	init innovation in traffic systems AG
	Käppelestraße 4-6
	76131 Karlsruhe
	Germany
Phone:	+49 (0)721 6100 0
Fax:	+49 (0)721 6100 399
E-mail:	ir@initag.de
Internet:	www.initag.de
ISIN:	DE0005759807
WKN:	575980
Listed:	Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, München, Stuttgart

End of News DGAP News-Service

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