init innovation in traffic systems AG

EANS-Adhoc: init innovation in traffic systems AG
init reports revenues increase and record amount of incoming orders in 2012 dividend to remain at EUR 0.80


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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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annual result/preliminary figures
06.03.2013


Karlsruhe, 6 March, 2013. Following the strong fourth quarter of 2012, init
innovation in traffic systems AG continues to grow. According to the available
preliminary figures, the group revenues in the financial year ended increased
9.7 percent to EUR 97.3m (2011: EUR 88.7m). At the same time, init's incoming
orders amounted to a record figure of EUR 152.2m (2011: EUR 81.4m). The order
backlog as of the end of the year amounted to EUR 176 million, 50 percent more
than the prior-year value. In terms of the revenues, init is thus approaching
the tenth successive year of growth.
Though init reached its revenues growth target in 2012, the earnings before
interest and taxes totaled EUR 17.3m, slightly less than planned (EUR 19m) and
the prior year (2011: EUR 20.4m). This was mainly due to production start-up
costs of the newly established US subsidiary SQM (Superior Quality Manufacturing
LLC), a loss by the subsidiary CarMedialab and a value adjustment on receivables
in Dubai. Compared to the prior year, it must be taken into consideration that
the earnings in 2011 included one-time special effects amounting to EUR 2.8m. 
The lower EBIT and a significantly higher tax rate are also reflected in the
consolidated net profit, which reached EUR 10.9m in 2012 (2011: EUR 15.1m). The
earnings per share thus dropped to EUR 1.11 (2011: EUR 1.51).
Based on the high order backlog and the growth potential in the markets newly
entered in 2012, the Managing Board expects revenues to grow to more than EUR
105m and an increase of earnings before interest and taxes (EBIT) to EUR 18m.
Due to this perspective and to excellent liquidity, the Managing Board of init
innovation in traffic systems AG (ISIN DE 0005759807) decided today to submit a
proposal for the appropriation of earnings to the Supervisory Board for
submission to the Annual General Meeting, which recommends to distribute a
consistently high dividend of EUR 0.80 per share entitled to dividend (prior
year: EUR 0.80). This resolution is subject to the approval of the annual
financial statements for the financial year 2012.
init innovation in traffic systems AG will publish the complete annual report
for 2012 on 28 March 2013 at the press and analyst conference.


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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