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Kapsch TrafficCom AG

EANS-Adhoc: Kapsch TrafficCom AG
Kapsch TrafficCom releases results for the third quarter of Fiscal Year 2009/10

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9-month report

24.02.2010

@@start.t2@@Revenues:                Q3: EUR 69.6 million      Q1-Q3: EUR 149.0 million
EBIT:                      Q3: EUR 11.1 million      Q1-Q3: EUR 6.6 million
Profit before tax: Q3: EUR 21.9 million      Q1-Q3: EUR 23.0 million
Profit after tax:  Q3: EUR 19.5 million      Q1-Q3: EUR 21.7 million
Earnings per share:Q3: EUR 1.41                  Q1-Q3: EUR 1.47

Vienna, 24 February 2010 - Kapsch TrafficCom AG (ISIN AT000KAPSCH9), listed in the prime market segment of the Vienna Stock Exchange, reported a clear increase in revenues and EBIT for the third quarter of Fiscal Year 2009/10.

Revenues and earnings After a challenging first half year, Kapsch TrafficCom recorded highly satisfying results in the third quarter. At EUR 69.6 million, revenues of the Group in the period from 1 October to 31 December 2009 significantly exceeded revenues in the same period of the previous fiscal year (FY09-Q3: EUR 51.6 million). Despite continuing large investments in the expansion into new markets, particularly the U.S.A., the EBIT also increased to EUR 11.1 million (FY09-Q3: EUR 3.2 million).

Due to the weaker performance in the first half year - particularly in the first quarter - consolidated revenues of EUR 149.0 million for the first three quarters were still slightly below the EUR 160.1 million in the same period of the previous fiscal year. In contrast to the first half year, earnings turned back positive, with an EBIT at EUR 6.6 million (FY09-Q3 cum.: EUR 21.6 million). Widely due to an accounting profit of EUR 14.1 million resulting from the reclassification of the stake in Q-Free ASA, Norway, as the shareholding, as a consequence of capital increases, fell below the threshold of 20 %, profit before tax improved to EUR 23.0 million (FY09-Q3 cum.: EUR 17.9 million) and profit after tax to EUR 21.7 million (FY09-Q3 cum.: EUR 12.7 million; FY08-Q1: EUR 2.9 million). Accordingly, earnings per share were at EUR 1.47 EUR compared to EUR 0.95 in the first nine months of the previous fiscal year.@@end@@

Broken down by segments, with revenues of EUR 25.2 million (FY09-Q3 cum.: EUR 50.2 million) at an EBIT of EUR minus 21.3 million (FY09-Q3 cum.: EUR 2.6 million) the Road Solution Projects (RSP) segment, being characterized by projects business, recorded a considerable decrease against the same period of the previous fiscal year. In contrast, the Services, System Extensions, Components Sales (SEC) segment, which is characterized by recurring revenues, showed a significantly stronger performance. With revenues at EUR 117.5 million (FY09-Q3 cum.: EUR 103.8 million) and an EBIT at EUR 27.9 million (FY09-Q3 cum.: EUR 20.9 million), it clearly outperformed the same period of the previous fiscal year.

Financial position and cash flows The Kapsch TrafficCom Group clearly improved its free cash flow in the first three quarters of the fiscal year 2009/10, up by 23 % to EUR 31.3 million against EUR 25.5 million during the same period of the previous fiscal year. As of 31 December 2009, the net working capital was reduced by 19 % to EUR 101.6 million compared to EUR 124.8 million as of 31 December 2008.

In the same period, Kapsch TrafficCom clearly improved its capital structure again. With total assets of EUR 289.4 million as of 31 December 2009, down by 5 % from EUR 304.8 million as of 31 December 2008, the Kapsch TrafficCom Group´s equity ratio reached 52.3 % as of 31 December 2009 (31 December 2008: 43.0 %). At the end of the previous fiscal year as of 31 March 2009, the equity ratio was at 41.4 %.

Outlook The company continues to take an optimistic long-term view on its market.

The report on the third quarter of Fiscal Year 2009/10 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 230 references in 38 countries in all 5 continents, and with more than 16 million delivered on-board units (OBUs) and 12,000 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 23 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 only be transacted with Relevant Persons.

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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 1120
Am Europlatz 2, A-1120 Vienna, Austria
E-mail: ir.kapschtraffic@kapsch.net
www.kapschtraffic.com

Branche: Technology
ISIN:      AT000KAPSCH9
WKN:        
Index:    Prime Market
Börsen:  Wien / official market



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