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euro adhoc: Kapsch TrafficCom AG
Financial Figures/Balance Sheet
TrafficCom with clear increase in revenues, EBIT and cash flow in the first nine
months of fiscal year 2008/09
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Vienna, 25 February 2009 - Kapsch TrafficCom AG (ISIN AT000KAPSCH9), listed on the Vienna Stock Exchange in the prime market segment, reported an increase in consolidated revenues and EBIT during the first three quarters of fiscal year 2008/09 as compared to the same period in the previous fiscal year. Kapsch TrafficCom Group, the international supplier of innovative road traffic telematics solutions, generated a clear positive free cash flow and advanced its cash position.
Revenues and earnings Improvements in both large segments - SEC (Services, System Extensions, Components Sales) and RSP (Road Solution Projects) - resulted in a considerable increase in revenues of Kapsch TrafficCom Group, up 29.5 % from EUR 123.6 million to EUR 160.1 million in the first nine months of the current fiscal year 2008/09 compared to the same period of the previous fiscal year. By segment, the RSP segment reported an increase in revenues by 63.5 % to EUR 50.2 million (same period of previous fiscal year: EUR 30.7 million) in the first three quarters of the current fiscal year due to increased business volumes. The performance of the SEC segment remained strong, generating revenues of EUR 103.8 million during the first nine months of the current fiscal year, 22.3 % up from EUR 84.9 million recorded during the same period in the previous fiscal year. This increase is primarily attributable to a significant increase in sales of components and recurring revenues from operations. The Others (OTH) segment recorded revenues of EUR 6.2 million for the first nine months of the current fiscal year, down from EUR 8.0 million during the same period in the previous fiscal year.
For the same period, Kapsch TrafficCom Group is reporting an improved EBIT, up 22 % from EUR 17.7 million in the first three quarters of the previous fiscal year to EUR 21.6 million in the same period of the current fiscal year. The analysis by segment for the first nine months of fiscal year 2008/09 shows the RSP segment increasing from EUR 2.2 million to EUR 2.6 million (up 18.2 %), the SEC segment´s EBIT growing from EUR 15.9 million to EUR 20.9 million (up 31.4 %), and the OTH segment with an EBIT of EUR -2.0 million.
Due to a negative financial result in the third quarter resulting from currency losses and particularly the impairment of certain short-term financial assets (securities), profit before tax decreased by 15.6 % to EUR 17.9 million (first nine months of previous fiscal year: EUR 21.2 million) and profit after tax also decreased by 8 % to EUR 12.7 million (first nine months of previous fiscal year: EUR 13.8 million). Accordingly, earnings per share slightly decreased by 7.8 % to EUR 0.95 (first nine months of previous fiscal year: EUR 1.03).
Financial position and cash flows With total assets of EUR 304.8 million and total equity of EUR 131.2 million as of 31 December 2008, the Kapsch TrafficCom Group´s equity ratio was 43 % (31 March 2008: 44.7 %). Kapsch TrafficCom also clearly strengthened its financial position. In the first three quarters of the current fiscal year 2008/09, the Kapsch TrafficCom Group improved the free cash flow from EUR -5.8 million in the first nine months of the previous fiscal year to EUR 25.5 million in the same period of the current fiscal year. Cash and cash equivalents for the same period increased from EUR 47.4 million as of 31 March 2008 to EUR 54.4 million as of 31 December 2008, even though dividends of approximately EUR 11.0 million were distributed and approximately EUR 11.1 million were invested in the acquisition of the "Mobility Solutions" business of TechnoCom Corporation in the U.S.A. and the capital expenditures were increased due to the move of the Austrian entities to new business premises and the expansion of production facilities.
Outlook The management takes an optimistic view on the Kapsch TrafficCom´s markets even in a changed economic environment and expects a further positive operating development of Kapsch TrafficCom in the final quarter of the current fiscal year 2008/09.
The interim report for the third quarter of fiscal year 2008/09 can be downloaded at www.kapschtraffic.com / Investor Relations / Financial information.
Kapsch TrafficCom is an international supplier of innovative road traffic telematics solutions. Its principle business is the development and supply of electronic toll collection (ETC) systems, in particular for the multi-lane free-flow (MLFF) of the traffic, 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 210 references in 35 countries in Europe, Australia, America, in the Middle-East, in the Asian/Pacific region and in South Africa, and with almost 14 million delivered on-board units (OBUs) and more than 11,600 equipped lanes, Kapsch TrafficCom has positioned itself among the leading suppliers of ETC systems worldwide. Kapsch TrafficCom is headquartered in Vienna, Austria, and has subsidiaries and representative offices in 22 countries.
Disclaimer This ad-hoc release constitutes neither an offer to sell nor a solicitation to buy any securities. The securities have already been sold. This ad-hoc release 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 ad-hoc release 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 o
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ots Originaltext: Kapsch TrafficCom AG
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