Corporate | 31 May 2006 08:12

InTiCom Systems Aktiengesellschaft:Sales and earnings growth of InTiCom Systems in Q1 2006

Corporate-news transmitted by DGAP – a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. —————————————————————————— • Sales and earnings growth of InTiCom Systems in Q1 2006 • Ramp up of serial production in automotive applications in Czech Republic • Capital increase secures future capacity expansion Passau, 31 May 2006 – InTiCom Systems AG (ISIN DE0005874846, Prime Standard) achieved sales and earnings growth of more than 11 % each in the first quarter of fiscal 2006. Sales in the first quarter increased to EUR 10.2 million (prior year EUR 9.2 million). This represents a revenue increase of 11. %. DSL splitters for subscribers and national telecommunication companies remained the main sales driver with growth particularly generated outside of Germany once again. A lower material cost ratio in Q1 2006 – despite the production establishment and the test and start-up phase of the new automotive applications plant in the Czech Republic – of 78.9 % compared to 80.8 % in the same period of the previous year documents the company’s consistent focus on profitability. Earnings growths of EBITDA of almost 25 % to EUR 1.1 million (prior year EUR 0.9 million) and EBIT of more than 16 % to EUR 0.9 million (prior year EUR 0.7 million) document this operative strength. The profit from ordinary activities (EBT) increased by some 18 % to EUR 0.9 million in Q1 2006 (prior year EUR 0.8 million) and net income of EUR 0.6 million in the quarter exceeded the previous year’s figure of EUR 0.5 million by approximately 11 %. The achieved earnings per share of EUR 0.39 in Q1 2006 (previous year EUR 0.35) are already calculated on the number of shares outstanding fully diluted after the capital increase to 1.429.000 shares. Liquid funds as of 31 March 2006 amounted to EUR 18.5 million (previous year EUR 10.5 million) compared to EUR 10.7 million as of the balance sheet date 2005. The strong rise in liquid funds was primarily the result of the cash proceeds from the capital increase in Q1 totalling some EUR 9.4 million as well as a stringent working capital management. As of 31 March 2006, the order backlog of InTiCom Systems amounted to some EUR 12.3 million (prior year EUR 9.4 million) and therewith exceeded the previous year’s figure considerably. In light of the 2005 sales volume, coverage remains constant with a period of around 3 months. Capital expenditures in Q1 2006 came out to EUR 1.8 million (previous year EUR 0.9 million) and provided the basis for the establishment of serial production for automotive electronics at the modern and highly automated production location in the Czech Republic. There production will be started for the service of already existing serial orders for keyless go and tyre pressure monitor systems, immobiliser modules and filter applications by multiple systems suppliers and automobile manufacturers from Asia and Germany as of May 2006. The early financing of these investments through additional equity was a good example of safeguarding the additional expansion of the automotive business of InTiCom Systems early on through start-up investments far exceeding the capital expenditures already planned for 2006 and 2007. This also enables us high flexibility with upcoming investment decisions in the future. InTiCom Systems AG received cash proceeds of EUR 9.4 million in Q1 2006 from the placement of a multiply oversubscribed capital increase of 129,000 shares. The Group’s equity rose at the end of the quarter (31 March 2006) to EUR 23.4 million (2005 year end: EUR 13.5 million) and resulted in a strengthened and solid equity ratio of more than 67 % (31 Dec 2005: nearly 55 %). InTiCom Systems expects to see moderate sales and earnings growth for 2006 compared to the past fiscal year. The full-year effect from the automotive sector will first become noticeable in 2007. InTiCom Systems AG The Management Board For further details of the first quarter accounts and the complete quarterly report of Q1 2006 please use: www.inticom-systems.de/berichte.html or please contact: eMail: d.schopf@inticom-systems.de Dieter Schopf Telephone: +49 – (0)851 – 966 92 – 0 Management Board Fax: +49 – (0)851 – 966 92 – 15 (c)DGAP 31.05.2006 ————————————————————————— Language: English Issuer: InTiCom Systems Aktiengesellschaft Spitalhofstraße 94 94032 Passau Deutschland Phone: +49 (0)851 9 66 92-0 Fax: +49 (0)851 9 66 92-15 email: info@InTiCom-Systems.de WWW: www.InTiCom-Systems.de ISIN: DE0005874846 WKN: 587484 indices: Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin-Bremen, Hamburg, München, Stuttgart End of News DGAP News-Service —————————————————————————