Ad-hoc | 5 November 2013 14:11
init innovation in traffic systems AG / Key word(s): Quarter Results/Quarter Results
05.11.2013 14:11
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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Karlsruhe, 5 November 2013. Based on preliminary figures for the third
quarter, init innovation in traffic systems AG eked out marginal growth in
revenues and earnings but remained below target as at the end of September.
Reasons for this include delays in major projects as well as exchange rate
effects resulting from a weaker US dollar. On the current state, the
managing board is confident that the revenues and earnings target (revenues
of EUR 105m, EBIT of EUR 18m) remain widely achievable. The fourth quarter
has traditionally proved to generate the highest revenues for init.
The group's medium and long-term growth prospects continue to be intact.
The order backlog of more than one-and-a-half-times of annual revenues
already now extends far into 2015. It aggregated EUR 163m as at 30
September 2013 (previous year: EUR 185m). By mid-October two projects with
signalling effect were added in Finland and France, worth a total of more
than EUR 8m.
Based on preliminary figures for the third quarter of 2013, revenues at
init rose by a good 7 per cent on the previous year to EUR 24m (Q3 2012:
EUR 22.4m), with operating earnings before interest and taxes (EBIT)
improving to EUR 3.3m (Q3 2012: EUR 3.2m)
Group revenues totalled EUR 61.1m as at the end of September (Q1-Q3 2012:
EUR 64.4m). At EUR 7.5m, earnings before interest and taxes (EBIT) also
remained below the prior-year benchmark (Q1-Q3 2012: EUR 10.7m). Net profit
as at the end of September stood at EUR 5.1m (Q1-Q3 2012: EUR 7.2m), which
translates into earnings per share of EUR 0.51 (Q1-Q3 2012: EUR 0.74).
Revenues and earnings are expected to improve significantly by the end of
the year. Moreover, init is currently participating in further tenders
worth more than EUR 100m in total.
The full report for the first nine months of the 2013 financial year will
be published on 8 November 2013.
05.11.2013 DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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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 Announcement DGAP News-Service
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