Kapsch TrafficCom AG

euro adhoc: Kapsch TrafficCom AG
quarterly or semiannual financial statement / Kapsch TrafficCom AG: First half of 2007/08 fiscal year Not for publication in the United States of America, Canada, Australia and Japan

-------------------------------------------------------------------------------- Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement. -------------------------------------------------------------------------------- quaterly report 22.11.2007 Vienna, 22 November 2007 - Kapsch TrafficCom AG (ISIN AT000KAPSCH9), listed on the Vienna Stock Exchange in the prime market segment since 26 June 2007, continued its positive performance in the first half of fiscal 2007/08, posting improved earnings figures against a slight decline in revenues. Earnings Volatility of the project business and the Road Solution Projects (RSP) segment in particular led to a slight decline in revenues in the first six months of the current fiscal year compared to the same period during the previous fiscal year, down 5% from EUR 72.6m to EUR 68.8m. Broken down by segment, Road Solution Projects (RSP) reported a 64% decline in revenues to EUR 13.2m (H1 2006/07: EUR 36.6m). In the first half year of the previous year, revenues in the amount of EUR 33.3m were included for the major part of the construction of phase I of the nationwide truck tolling system in the Czech Republic though. Tenders for other major project in Central and Eastern Europe (CEE) in the current fiscal year have been postponed. The performance of the Services, System Extensions and Components Sales (SEC) segment improved significantly due to increased business volumes, generating revenues of EUR 50.4m for the first half of the fiscal year, 75% higher than the EUR 28.8m achieved during the same period in the previous fiscal year. This increase is primarily attributable to the successful technical and commercial operation of the nationwide truck tolling system in the Czech Republic and a significant increase in sales of components, particularly on-board units (OBUs). The Others (OTH) segment recorded revenues of EUR 5.2m, down about 28% against the same period in the previous fiscal year (H1 2006/07: EUR 7.2m). For the first half of 2007/08, Kapsch TrafficCom is reporting improved earnings. EBITDA was up 26% from EUR 7.6m to EUR 9.6m, while adjusted operating profit (adjusted EBIT) advanced 37% from EUR 5.6m to EUR 7.6m. Profitability also improved, with the EBIT margin improving from 8% to 10%. The analysis by segment for the first half of fiscal 2007/08 shows SEC´s EBIT growing from EUR 5.6m to EUR 7.9m (up 41%), with OTH also improving its EBIT, from EUR -1.2m to EUR -0.3m. In the RSP segment, expenses relating to preparations in order to participate in tenders for upcoming large-scale projects in Central and Eastern Europe (Slovakia and Hungary) and the United Kingdom resulted in a decline in EBIT from EUR 1.2m to EUR -0.8m. In the first half of 2007/08, Kapsch TrafficCom recorded a 48% increase in earnings before tax, from EUR 5.8m to EUR 8.6m. Profit after tax for the period was up 47% from EUR 4.3m to EUR 6.3m. Assets and capital structure As of 30 September 2007, Kapsch TrafficCom´s total assets increased by 26% to EUR 286.0m compared to 31 March 2007. Over the same period, total equity more than doubled, to EUR 109.1m (31 March 2007: EUR 45.6m), bringing the equity ratio as of 30 September 2007 to 38%. Due in parts to the successful initial public offering, net debt as of 31 March 2007 of EUR 12.5m has been transformed into net assets of EUR 27.1m as of 30 September 2007. The increased net cash outflow from operating activities of EUR 19.3m compared with a net outflow of EUR 2.9m in the same period of the previous fiscal year reflects project-related increases in inventories and trade receivables, and a significant decrease in trade payables. The net cash outflow from investment activities was EUR -31.4m (H1 2006/07: EUR -3.5m) and is attributable to the acquisition of securities amounting to EUR 30m. Outlook The second half of the year will be shaped by participation in tenders and by project awards in Australia, Chile, Hungary, Slovakia, South Africa and the United Kingdom. It should be noted that orders have already been taken in Chile, New Zealand and South Africa in the first half year. For the nationwide truck tolling system in the Czech Republic, Kapsch TrafficCom and the customer have now defined those "first class roads" which will go into operation on 1 January 2008. Kapsch TrafficCom is currently negotiating an amendment regarding the extension of the Czech nationwide truck tolling system (phase II). The interim report for the first half of fiscal 2007/08 can be downloaded at www.kapschtraffic.com / Investor Relations / Financial information. Kapsch TrafficCom is an international supplier of innovative road traffic telematics systems, products and services. Its principle business is the development and supply of electronic toll collection (ETC) systems, in particular MLFF (multi-lane free-flow) ETC systems, and the technical and commercial operation of such systems. Kapsch TrafficCom also supplies traffic management systems, with a focus on road safety and traffic control, and electronic access systems and parking management. With more than 130 installed tolling systems in 30 countries in Europe, Australia, Latin America, the Asian/Pacific region and South Africa, and more than nine million transponders and 11,000 equipped lanes, Kapsch TrafficCom has positioned itself among the market leaders in ETC systems worldwide. Kapsch TrafficCom is headquartered in Vienna, Austria, and has subsidiaries and representative offices in 18 countries. Legal information This stock exchange announcement constitutes neither an offer to sell nor a solicitation to buy any securities. The securities have already been sold. This stock exchange announcement and the information it contains are not for publication in the United States of America (U.S.A.) and may not be distributed to U.S. persons (as defined in Regulation S of the U.S. Securities Act ("Securities Act") of 1933, as amended) or to publications with a general circulation in the U.S.A. This stock exchange announcement does not constitute an offer for the sale of securities or solicitation of an offer to purchase securities in the U.S.A. The securities of Kapsch TrafficCom AG have not been registered under the provisions of the Securities Act and may not be offered, sold or delivered to U.S. persons without prior registration under or exemption from the registration requirements. This stock exchange announcement is exclusively addressed to persons (i) outside the United Kingdom, or (ii) who are investment professionals for the purposes of article 19(5) U.K. Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order"), as amended, or (iii) who are included under article 49(2)(a)-(d) of the Order ("high net worth companies, unincorporated associations, etc.). All such persons are hereinafter referred to as "Relevant Persons". No person who is not a Relevant Person may take action on the basis of this press release or the information contained herein or rely thereon. Investment or investment activities in connection with this press release are only available to Relevant Persons, and investment business will only be transacted with Relevant Persons. end of announcement euro adhoc 22.11.2007 18:03:03 -------------------------------------------------------------------------------- ots Originaltext: Kapsch TrafficCom AG Im Internet recherchierbar: http://www.presseportal.ch Further inquiry note: Marcus Handl Investor Relations Kapsch TrafficCom AG Tel: +43 (0) 50 811 1122 Wagenseilgasse 1, A-1120 Vienna, Austria E-mail: ir.kapschtraffic@kapsch.net www.kapschtraffic.com Branche: Technology ISIN: AT000KAPSCH9 WKN: Index: Prime.market Börsen: Wiener Börse AG / official market

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