init innovation in traffic systems AG

EANS-Adhoc: init innovation in traffic systems AG
Successful first half-year for init: Continued double-digit growth in sales and earnings

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  ad-hoc disclosure pursuant to section 15 of the WpHG transmitted by euro
  adhoc with the aim of a Europe-wide distribution. The issuer is solely
  responsible for the content of this announcement.
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6-month report

02.08.2012

Karlsruhe, August 2, 2012. init innovation in traffic systems AG can look back
on a successful first half of 2012: Continuing double-digit growth rates in both
revenues and earnings exceeded expectations. According to the provisional
figures currently available, the init group generated revenues of EUR 22.4
million in the second quarter. This is 27 percent more than in the previous year
(Q2 2011: EUR 17.6 million). Earnings before interest and taxes (EBIT) increased
also by more than 27 percent to EUR 4.7 million (Q2 2011: EUR 3.7 million) in
the same period.

Revenues generated by the leading provider of integrated telematics, planning
and fare collection systems for transport companies reached a new high in the
first half-year with EUR 42.1 million (previous year: EUR 31.6 million).
Likewise, EBIT increased to EUR 7.6 million (compared to EUR 6.3 million in the
first half of 2011), although the further internationalisation of distribution,
the development of new markets and the resulting required establishment of
subsidiaries meant an increase in distribution and administration costs. 
 
At the end of June, the net profit of EUR 5.0 million was only slightly above
that of the same period last year (EUR 4.9 million), with the higher tax rate
resulting from the fact that the majority of tax-free benefits from the projects
in the Middle East can only be posted in the second half of 2012. Earnings per
share amount to EUR 0.52 as at the end of June (previous year: EUR 0.50). 

Despite the risks for the economy arising from the state debt crisis affecting
industrial countries, init's order book was not exposed to any negative effects
in 2012 to date. Taking into account the largest order in the company's history
received in July (Rheinbahn Duesseldorf, one of the largest telematics projects
for public transport in Germany), current orders on hand increased to more than
EUR 150 million (previous year: EUR 145 million). 

This covers more than 95 percent of the sales expected for 2012. For this
reason, the Managing Board of init innovation in traffic systems AG remains
confident that the sales target of more than EUR 95 million with an EBIT of
surely EUR 19 million for 2012 will be reached if no unexpected influences
arise. Based on the high level of orders on hand, the numerous current tenders
and the ongoing worldwide need for developing and modernising public transport
systems, the Managing Board also sees good conditions for continued growth in
2013. 

The detailed report on the first half-year will be published on August 9, 2012.


Further inquiry note:
Simone Fritz
Investor Relations
Tel.: +49 (0)721/6100-115
mailto: ir@initag.de

end of announcement                               euro adhoc 
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issuer:      init innovation in traffic systems AG
             Käppelestraße 6
             D-76131 Karlsruhe
phone:       +49(0)721 6100-0
FAX:         +49(0)721 6100-399
mail:     info@initag.de
WWW:      http://www.initag.de
sector:      Semiconductors & active components
ISIN:        DE0005759807
indexes:     CDAX, Prime All Share, Technology All Share
stockmarkets: free trade: Hannover, Berlin, München, Hamburg, Düsseldorf,
             Stuttgart, regulated dealing/prime standard: Frankfurt 
language:   English
 



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