init innovation in traffic systems AG

euro adhoc: init innovation in traffic systems AG
Quarterly or Semiannual Financial Statements
init increases sales by 114 per cent in first quarter

--------------------------------------------------------------------- Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement. --------------------------------------------------------------------- 10.05.2005 At the end of the first quarter of 2005, init innovation in traffic systems AG is able to report an increase in sales by around 114 per cent as against the previous year, to 7.7 million Euro (Q1 2004: 3.6 million Euro). According to the final figures now available, the Karlsruhe-based telematics specialist also managed for the first time in company history to attain a distinctly positive operating result (EBIT) of 0.6 million Euro (Q1 2004: -2.2 million Euro) only three months into the fiscal year, with a quarterly net profit of 0.3 million Euro (Q1 2004: -1.4 million Euro. The earnings per share thus stood at 0.03 Euro (2004: -0.14 Euro). A further considerable turnaround was achieved in the operating cash flow. As at the end of March 2005, it stood at +2.3 million Euro, after -0.8 million Euro in the previous year. The equity ratio improved to 54.0 per cent (Q1 2004: 51.7 per cent). The target figures for both sales and earnings have thus been well exceeded. In addition to the sustained positive development in international business, the cause of this is found in a revitalization of demand on the domestic market. Thus, at 1.2 million Euro, the revenues on the domestic market were up by around 27 per cent as against the previous year (0.9 million Euro), in which the company had marked a low. In foreign business, the company recorded three-figure rates of growth: Sales in Europe (excluding Germany) were up by 103.4 per cent, totaling 2.7 million Euro (Q1 2004: 1.3 million Euro), while in North America, the revenues virtually tripled to 3.9 million Euro as compared to the previous year (Q1 2004: 1.3 million Euro). The lasting effect of the recovery of business in 2005 is indicated by the positive trend in incoming orders. Thus, at 7.7 million Euro in the first quarter of 2005, init managed to record a gain in new orders of over 20 per cent as against the previous year (6.4 million Euro), while in Germany, the number of incoming orders actually rose by 73 per cent. Within the course of the 2006 Football World Cup, further momentum is expected from investments in the local public transportation infrastructure. Consequently, we are confident that init will be able to reach its targets in sales and operating result set for 2005. end of announcement euro adhoc 10.05.2005 07:21:35 --------------------------------------------------------------------- Further inquiry note: Alexandra Weiß Investor Relations Telefon: +49(0)721 6100-102 E-Mail: aweiss@initag.de Branche: Semiconductors & active components ISIN: DE0005759807 WKN: 575980 Index: CDAX, Prime All Share, Technologie All Share Börsen: Frankfurter Wertpapierbörse / regulated dealing Berliner Wertpapierbörse / free trade Hamburger Wertpapierbörse / free trade Baden-Württembergische Wertpapierbörse / free trade Börse Düsseldorf / free trade Niedersächsische Börse zu Hannover / free trade Bayerische Börse / free trade Bremer Wertpapierbörse (BWB) / free trade

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