Corporate | 23 May 2013 07:45
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InTiCa Systems AG / Key word(s): Quarter Results
Consolidated sales increased 11% year-on-year to EUR 9.9 million (2012: 8.9 million) EBITDA of EUR 1.4 million (2012: EUR 1.3 million) EBIT was around the year-back level at EUR 0.3 million
Positive net profit of EUR 0.14 million (2012: EUR 0.06 million)
Passau, May 23, 2013 – InTiCa Systems AG, quoted in the Prime Standard of the Frankfurt Stock Exchange (ISIN DE0005874846, Ticker IS7), today publishes the interim report for Q1 2013. ‘We are pleased to report that our business performance improved considerably in the first quarter, even though conditions remained adverse. Overall, we grew sales appreciably year-on-year. The growth in the Automotive Technology segment continued and the Communication Technology segment also posted higher sales. Stringent cost discipline and continuous process optimization resulted in a good operating result (EBITDA) in the reporting period, with a margin of over 14% and positive earnings after taxes’, concluded Walter Brückl, CEO of InTiCa Systems AG for the first three months of 2013.
Sales and earnings position
The ratio of material costs to total output remained low at 61.6%, and the personnel cost ratio was reduced from 17% to 16% despite an increase in the number of employees. EBITDA rose 7% year-on-year to EUR 1.4 million in Q1 2013 (Q1 2012: EUR 1.3 million). The EBITDA margin was 14.3%. Group EBIT was EUR 0.3 million in the reporting period (Q1 2012: EUR 0.3 million). The EBIT margin therefore slipped slightly from 2.9% in Q1 2012 to 2.8% in Q1 2013. In the Automotive Technology segment, EBIT was unchanged from the previous year at EUR 0.3 million (Q1 2012: EUR 0.3 million). In the Industrial Electronics segment, it improved to EUR 0.2 million (Q1 2012: EUR 0.02 million). Only the Communication Technology segment again reported negative EBIT of minus EUR 0.2 million (Q1 2012: minus EUR 0.1 million). The financial result was minus EUR 0.1 million in the reporting period (Q1 2012: minus EUR 0.1 million). Taking into account tax expense of EUR 26 thousand (Q1 2012: EUR 62 thousand), the Group’s net income in the first three months of 2013 was EUR 0.14 million (Q1 2012: EUR 0.06 million) and earnings per share were EUR 0.03 (Q1 2012: EUR 0.01). The equity ratio decreased to around 55% in the reporting period (December 31, 2012: 58%) as a consequence of higher current liabilities. The operating cash flow was still negative at minus EUR 0.6 million in the first quarter of 2013 due to the increase in inventories and trade accounts receivable. Moreover, around EUR 0.6 million was spent on selective investments in expansion and modernization of production capacities in the first quarter.
Outlook
For 2013 as a whole, the Board of Directors currently assumes that, providing overall economic growth is a least moderate, there will be a perceptible rise in sales and earnings. Overall, the Board of Directors expects Group sales in 2013 to be around EUR 40 million, with an EBITDA margin of around 15% and an EBIT margin of around 3%. The full interim report for the first three months of 2013 is available for download on the Internet site of InTiCa Systems under www.intica-systems.de in the Investor Relations section. 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. 435 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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