Corporate | 22 May 2014 07:30
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InTiCa Systems AG / Key word(s): Quarter Results
Group sales at EUR 10.0 million (2013: EUR 9.9 million)
Passau, May 22, 2014 – InTiCa Systems AG, quoted in the Prime Standard of the Frankfurt Stock Exchange (ISIN DE0005874846, Ticker IS7), today publishes the interim report for the first three months of 2014. While group sales of EUR 10.0 million were only slightly above the year back level, profit margins improved significantly in the reporting period. In total, a positive net profit of EUR 0.2 million could be achieved. “The first three months of 2014 brought a continuation of the trend that emerged in 2013. While the Automotive Technology segment continued its dynamic growth and increased sales by over 23%, the Industrial Electronics and Communication Technology segments registered a further drop in sales compared with the first quarter of 2013”, concluded Walter Brückl, CEO of InTiCa Systems AG for Q1 2014. “Due to the good order situation, we assume a continuation of the growth in the Automotive Technology segment and that we will achieve our envisaged targets for 2014.” Sales and earnings position Group sales totaled EUR 10.0 million in the first three months of 2014, about 1.1% higher than in the previous year (2013: EUR 9.9 million). The slight overall growth was driven by the sustained growth momentum in the Automotive Technology segment, which grew sales 23.5% to EUR 6.2 million (2013: EUR 5.1 million). By contrast, sales dropped 40.6% to EUR 1.1 million (2013: EUR 1.9 million) in the Communication Technology segment and 10.9% to EUR 2.6 million (2013: EUR 2.9 million) in the Industrial Electronics segment. There was a clear year-on-year improvement in the ratio of material costs to total output from 61.6% to 58.6%. By contrast, the personnel cost ratio increased from 15.8% to 18.1% as a result of an increase in the headcount. In the first three months of 2014, EBITDA remained virtually unchanged at EUR 1.4 million (2013: EUR 1.4 million). The EBITDA margin declined slightly from 14.3% to 14.1%. Group EBIT was EUR 0.4 million in the reporting period (2013: EUR 0.3 million). The EBIT margin therefore improved from 2.8% in Q1 2013 to 3.5% in Q1 2014. In the Automotive Technology segment, EBIT increased to EUR 0.4 million in the first three months of 2014 (2013: EUR 0.3 million). In the Industrial Electronics segment, EBIT slipped slightly to EUR 0.1 million (2013: EUR 0.2 million). Only the Communication Technology segment again reported negative EBIT of minus EUR 0.2 million (2013: minus EUR 0.2 million). The financial result was minus EUR 0.1 million in the reporting period (2013: minus EUR 0.1 million). Tax expense was EUR 3 thousand (2013: EUR 26 thousand). Interim net income for the first three months of 2014 was EUR 0.24 million (2013: EUR 0.14 million) and earnings per share were EUR 0.06 (2013: EUR 0.03). The equity ratio declined to 54% in the reporting period (December 31, 2013: 57%). The operating cash flow was minus EUR 1.4 million owing to the increase in trade receivables in the first quarter. Moreover, around EUR 0.9 million was spent on selective investments to expand production capacity in the Automotive Technology segment in the first quarter. At the same time, cash and cash equivalents dropped to EUR 0.1 million (December 31, 2013: EUR 1.3 million). Outlook The business trend in the first three months was in line with the Board of Directors’ expectations so it is retaining its outlook for fiscal 2014. Assuming at least moderate overall growth, from the present viewpoint the Board of Directors therefore expects to raise sales and earnings further in 2014. Overall, the Board of Directors expects Group sales in 2014 to be around EUR 43 million, with an EBIT margin of around 3.5%. The full interim report for the first three months of 2014 is available for download on the Internet site of InTiCa Systems under www.intica-systems.de in the Investor Relations section.
InTiCa Systems AG
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. 470 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 22.05.2014 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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