Corporate | 21 August 2013 07:56
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InTiCa Systems AG / Key word(s): Half Year Results
Consolidated sales increased by 8.5% year-on-year to EUR 19.5 million (2012: EUR 18.0 million)
EBITDA margin improved to 15.5% (2012: 13.7%) EBIT more than doubled from EUR 0.3 million to EUR 0.7 million Passau, August 21, 2013 – InTiCa Systems AG, quoted in the Prime Standard of the Frankfurt Stock Exchange (ISIN DE0005874846, Ticker IS7), today publishes the interim report for H1 2013. In spite of the economic slowdown, the company grew both sales and earnings considerably, living up to the successful level reported for 2011. ‘Although prospects for the important Automotive Technology and Industrial Technology segments were affected by the general deterioration in the economic situation in Germany, we grew both sales and earnings considerably compared with the first six months of last year. Our progressive shift from a components supplier to a solutions provider, which we are systematically driving forward within all segments, is increasingly paying off. Recording an EBITDA margin of 15.5 percent while generating revenues of EUR 19.5 million within the Reporting Period, we have met our targets for the first half year’, concluded Walter Brückl, CEO of InTiCa Systems AG for the first six months of 2013.
Sales and earnings position
InTiCa Systems AG also posted a strong improvement in operating profit in the reporting period: Group EBIT increased to EUR 0.7 million (H1 2012: EUR 0.3 million) and the EBIT margin rose from 1.7 percent to 3.6 percent. It should be noted that the Industrial Electronics segment returned to profit. This segment’s EBIT was EUR 0.3 million in the first six months of 2013, compared with minus EUR 28 thousand in the first half of 2012. The Automotive Technology segment continued to develop positively, reporting EBIT of EUR 0.7 million in the first six months of 2013 (H1 2012: EUR 0.6 million). Only the Communication Technology posted slightly negative EBIT of minus EUR 0.3 million in the reporting period, as in the first six months of 2012. The financial result was minus EUR 0.2 million in the reporting period (H1 2012: minus EUR 0.3 million). Taking into account tax expense of EUR 0.1 million (H1 2012: tax income of EUR 32 thousand), the interim result for the Group in the first six months of 2013 was EUR 0.4 million (H1 2012: EUR 0.1 million). Earnings per share were EUR 0.08 (H1 2012: EUR 0.02). The equity ratio declined slightly year-on-year from 56 percent to 55 percent, mainly because current liabilities to banks rose from EUR 1.2 million to EUR 2.5 million in connection with financing for the increase in sales. The operating cash flow was slightly positive at EUR 81 thousand. However, overall there was a cash outflow of EUR 2.0 million in the reporting period (H1 2012: inflow of EUR 1.2 million) due to higher investment in intangible assets and property, plant and equipment as well as, the repayment instalments on loans and leasing rates.
Outlook
For 2013 as a whole, the Board of Directors therefore currently still assumes that, providing overall economic growth is at least moderate, there will be a perceptible rise in sales and earnings. Overall, the Board of Directors expects Group sales in 2013 to be close to EUR 40 million, with an EBITDA margin of around 15% and an EBIT margin of around 3%. The full interim report for the first six 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
CONTACT Walter Brückl | CEO
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 21.08.2013 Dissemination of a Corporate News, transmitted by DGAP – a company of EQS Group 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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