Corporate | 21 August 2012 07:30
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InTiCa Systems AG / Key word(s): Half Year Results
CONTACT Walter Brückl | CEO
/ Weak market conditions in the communications and industrial sectors dampened business in H1 2012 Consolidated sales decline 20% year-on-year to EUR 18.0 million EBITDA of EUR 2.5 million is below the year-back level (H1 2011: EUR 3.2 million) EBIT amounts to EUR 0.3 million (H1 2011: EUR 0.8 million) Positive net result of EUR 0.1 million (H1 2011: EUR 0.4 million) Forecasts for 2012 adjusted to the economic environment Passau, August 21, 2012 – InTiCa Systems AG, quoted in the Prime Standard of the Frankfurt Stock Exchange (ISIN DE0005874846, Ticker IS7), today publishes the interim report for H1 2012. Despite the continued good development of the Automotive Technology segment, the generally poor market conditions prevented InTiCa Systems from repeating the previous year’s good sales and earnings figures.
Earnings position
The ratio of material costs to total output improved from 67% in H1 2011 to 59% in H1 2012. However, lower sales accompanied by an only slightly lower headcount lifted the personnel expense ratio to 20% (H1 2011: 14%). Analogously to the drop in business volume, EBITDA slipped from EUR 3.2 million to EUR 2.5 million in the first six months of 2012. Group EBIT dropped from EUR 0.8 million in H1 2011 to EUR 0.3 million in H1 2012. The EBIT margin declined from 3.7% in H1 2011 to 1.7%. Earnings are still positive thanks to the Automotive Technology segment, which reported EBIT of EUR 0.6 million in H1 2012 (H1 2011: EUR 0.5 million). The Communication Technology segment posted negative EBIT of minus EUR 0.3 million (H1 2011: minus EUR 0.1 million). EBIT was also negative in the Industrial Electronics segment at minus EUR 0.03 million (H1 2011: positive at EUR 0.4 million). The financial result was minus EUR 0.25 million at the end of the first six months (H1 2011: minus EUR 0.28 million). Taking into account tax income of EUR 32 thousand (H1 2011: tax expense of EUR 171 thousand), Group net income was EUR 0.1 million in the first half of 2012 (H1 2011: EUR 0.4 million). As a result of currency translation gains of EUR 49 thousand (H1 2011: EUR 149 thousand) from the translation of foreign business operations, comprehensive income was EUR 0.1 million in the first half of 2012 (H1 2011: EUR 0.5 million). The net cash flow from operating activities was EUR 1.5 million in the first six months of 2012 (H1 2011: cash outflow of EUR 0.9 million). Cash and cash equivalents (less overdraft facilities used) increased considerably year-on-year to EUR 0.7 million (H1 2011: minus EUR 2.9 million). The equity ratio increased to 56% (December 31, 2011: 52%).
Outlook
The interim report for H1 2012 is available at Investor Relations/Publications on the company’s website at www.intica-systems.de. InTiCa Systems AG The Board of Directors About InTiCa Systems: InTiCa Systems is a European leader in the development, manufacture and commercialization of inductive components, passive analogue switching technology and mechatronic assemblies. It operates in the Automotive Technology, Communication Technology and Industrial Technology segments and has ca. 410 employees at its sites in Passau (Germany) and Prachatice (Czech Republic). The Automotive Technology segment focuses on innovative products that raise the comfort and safety of cars, improve the performance of electric and hybrid vehicles and reduce carbon emissions. InTiCa Systems’ Communication Technology segment is the German market leader in splitters for the transmission of broadband signals, while the Industrial Electronics segment develops and manufactures mechatronic assemblies for the solar industry and other industrial applications.
Forward-looking statements and predictions
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| Language: | English | |
| Company: | InTiCa Systems AG | |
| Spitalhofstraße 94 | ||
| 94032 Passau | ||
| Germany | ||
| Phone: | 0851 / 96692 0 | |
| Fax: | 0851 / 96692 15 | |
| E-mail: | investor.relations@intica-systems.de | |
| Internet: | www.intica-systems.de | |
| ISIN: | DE0005874846 | |
| WKN: | 587484 | |
| Listed: | Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Hamburg, München, Stuttgart | |
| End of News | DGAP News-Service |
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