Ad-hoc | 7 August 2015 17:45
init innovation in traffic systems AG / Key word(s): Half Year Results/Half Year Results
07.08.2015 17:45
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
---------------------------------------------------------------------------
Karlsruhe, 7 August 2015. init innovation in traffic systems AG (ISIN DE
0005759807) reported an improvement in revenues in the first half of
financial year 2015. Ongoing major projects were accounted for according to
plan, resulting in a pleasing year-on-year increase in total revenues in
excess of 7 per cent to EUR 47.1m (prior year: EUR 43.9m).
Although revenues even came in above target, the half-year results were
impacted by negative currency effects. Earnings before interest and taxes
(EBIT) were less dynamic than planned in the second quarter due to the
exchange rate volatility and expenses incurred by new development work on
current major projects and activities in the Asian market. Although the
result of the second quarter compared to the first quarter of 2015 doubled
to EUR 2.5m, however, the value of EUR 3.7m as at 30 June 2015 is
significantly lower than in the prior year (EUR 6.4m).
Net profit accordingly declined as at 30 June 2015 year-on-year to around
EUR 2.4m (Q1-Q2 2014: EUR 4.3m). This corresponds to earnings per share of
EUR 0.23 (Q1-Q2 2014: EUR 0.44). Taking into account unrealised gains from
currency translation, total comprehensive income presented a more positive
picture, even rising to EUR 4.8m as at 30 June 2015 year-on-year (Q1-Q2
2014: EUR 4.5m).
Over the year as a whole, the Managing Board holds on to its revenue
forecast of EUR 104m to 110m for 2015. Whether it succeeds in reaching its
targeted earnings before interest and taxes (EBIT) will largely depend on
developments in the second half of the year - in particular with regard to
exchange rates. The Managing Board still considers EBIT of its current
planning of between EUR 17m and 19m to be achievable.
A continued high order backlog of some EUR 121m covers more than the
one-year revenues. Over the longer term, the large number of international
tenders that have been put out for public transport infrastructure
projects, telematics and ticketing systems also give cause to be confident
about init's future growth.
07.08.2015 The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------------
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: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich,
Stuttgart
End of Announcement DGAP News-Service
---------------------------------------------------------------------------