Corporate | 20 November 2012 07:30
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InTiCa Systems AG / Key word(s): Quarter Results
CONTACT Walter Brückl | CEO
/ Nine-month result remains positive despite the economic slowdown Consolidated sales decline 17% year-on-year to EUR 27.5 million EBITDA of EUR 3.6 million is below the year-back level (2011: EUR 4.7 million) EBIT amounts to EUR 0.4 million (2011: EUR 1.2 million) Positive net result of EUR 0.03 million (2011: EUR 0.7 million) Forecasts for 2012 confirmed Passau, November 20, 2012 – InTiCa Systems AG, quoted in the Prime Standard of the Frankfurt Stock Exchange (ISIN DE0005874846, Ticker IS7), today publishes the interim report for 9M 2012. The increasing economic slowdown resulting from the ongoing debt crisis in Europe, the difficult situation in the European solar industry and the downtrend on the communication technology market continued to weigh on sales and earnings in the past quarter.
Earnings position
There was a significant improvement in the ratio of material costs to total output from 66% in the first nine months of 2011 to 60% in the first nine months of 2012. In view of an increase in headcount and the reduction in sales revenues, the personnel expense ratio increased from 14% in the first nine months of 2011 to 17% in the first nine months of 2012. Analogously to the drop in business volume, EBITDA contracted from EUR 4.7 million to EUR 3.6 million in the first nine months of 2012. Consolidated EBIT was EUR 0.4 million in the first nine months of 2012 (9M 2011: EUR 1.2 million). The EBIT margin dropped from 3.7% to 1.4%. Automotive Technology was mainly responsible for the positive earnings, with EBIT coming in at EUR 0.8 million in the first nine months of 2012 (9M 2011: EUR 0.8 million). Due to the weak market situation, the Communication Technology segment reported negative EBIT of minus EUR 0.4 million (9M 2011: minus EUR 0.1 million) while Industrial Electronics reported EBIT of minus EUR 0.1 million (9M 2011: EUR 0.5 million). The financial result was minus EUR 0.4 million in the reporting period (9M 2011: minus EUR 0.4 million), although financial expenses declined from EUR 0.5 million to EUR 0.4 million). Group net income for the first nine months of 2012 was EUR 0.03 million (9M 2011: EUR 0.7 million). Earnings per share were therefore EUR 0.01 (9M 2011: EUR 0.16). As a result of currency translation gains of EUR 0.4 million (9M 2011: losses of EUR 0.2 million) from the translation of foreign business operations, comprehensive income was EUR 0.4 million in the first nine months of 2012 (9M 2011: EUR 0.5 million). The equity ratio increased to 56% in the reporting period (December 31, 2011: 52%) as a result of lower liabilities. Current liabilities to banks were reduced from EUR 2.3 million to EUR 1.8 million and trade payables declined by around EUR 1.0 million to EUR 1.8 million. Repayment of EUR 0.6 million of non-current debt also contributed to the increase in the equity ratio. In the reporting period, both scheduled repayment of a EUR 1.5 million bonded loan and the significant improvement in the operating cash flow to EUR 1.5 million had a positive impact on the company’s liquidity.
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. 430 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
End of Corporate News 20.11.2012 Dissemination of a Corporate News, transmitted by DGAP – a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. DGAP’s 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: | 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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