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> Revenue growth of 27% compared with the first half-year of the previous year
> EBIT increased by 5%
> Consolidation of transportation division acquired from Schneider Electric
> Despite acquisitions and dividend payment: net debt of only EUR -0.5 million
> New projects obtained and solid new business pipeline
"Kapsch TrafficCom continues to grow in terms of revenues and profit. Group
profitability should increase with the progressive integration of Kapsch
TrafficCom Transportation which we acquired at the start of this fiscal year,"
states Georg Kapsch, CEO Kapsch TrafficCom.
|Unless otherwise | H1 2016/17 | +/- | H1 2015/16 |
|stated, all values| | | |
|Profit for the | 20.1| +5%| 19.2|
|Profit for the | 20.6| +23%| 16.7|
|period | | | |
|attributable to | | | |
Vienna, November 17th 2016 - Kapsch TrafficCom AG, listed in the prime market of
the Vienna stock exchange (ISIN AT000KAPSCH9), achieved further growth in the
first half of the 2016/17 fiscal year. Compared with the same period of the
previous year, revenues increased by EUR 66.7 million (+27%) to EUR 311.7
million. Total tolls collected in the "Electronic Toll Collection" segment
generated around three quarters of the Group's revenues. The "Intelligent
Mobility Solutions" segment accounted for the remainder.
The operating result (EBIT) increased by EUR 1.3 million (+5%) to EUR 28.7
million. The profit for the period rose by EUR 0.9 million (+5%) to EUR 20.1
million, with the comparison value of the previous year including a positive
one-off effect in the financial result. The income tax expenses for this year
were also higher than in the previous year as a consequence of the higher pre-
tax result. Due to the acquisition of the remaining 48% share in the Czech
Kapsch Telematic Services spol. s r.o., the profit for the period attributable
to equity holders rose by 23%.
The initial consolidation of Kapsch TrafficCom Transportation, the global
transportation division acquired from Schneider Electric on April 1st 2016, had
a significant impact on the results. Overall revenues for the Group increased by
EUR 53.0 million. In the current fiscal year, the results of KTT as well as the
integration costs will weigh on the profitability of Kapsch TrafficCom Group.
Furthermore, the smart parking subsidiary company, Streetline, has made another
negative contribution to EBIT. Although Streetline is generating revenues, these
currently continue to be exceeded by expenses for sales and further development
of technology. Kapsch TrafficCom management considers the business sector of
this US company to be strategically promising in years to come. More than 30% of
traffic volume in cities can be attributed to vehicles searching for a parking
space. Reducing this traffic not only makes life easier for drivers, it also
lowers the risk of accidents, the traffic-related costs faced by city
administrations, and the amount of exhaust gas emissions.
Regarding customers, it should be noted that in the first half year, the
existing agreement for operating the nationwide truck toll collection system in
the Czech Republic was extended by up to three years. Kapsch TrafficCom also
obtained a number of additional orders. For example, the company secured two
further projects in the state of Queensland, Australia. There were also
successes in the USA such as awards for contracts regarding the renovation of
the toll collection system for all bridges and tunnels for the Port Authority of
New York and New Jersey, and for the modernization of the integrated traffic
management system of the Highway Operations Center of the Massachusetts Traffic
Authority. North America is the key growth market for the Kapsch TrafficCom
The capital resources of Kapsch TrafficCom continue to be extremely sound.
Despite the dividend payment totaling EUR 19.5 million, the acquisition of the
transportation division from Schneider Electric (EUR 16.6 million) and the
acquisition of the remaining 48% of the Czech Kapsch Telematic Services (EUR
14.0 million), net debt at the end of the half year was just EUR -0.5 million.
A primary objective over the remaining course of the current fiscal year will be
to drive forward the integration of KTT, with a view to minimizing costs and
realizing synergies as quickly as possible, while also helping the approximately
900 new employees to become acquainted with and a part of the corporate culture
of the Kapsch TrafficCom Group.
The management is confident, based on the results for the first six months of
the year, that Kapsch TrafficCom Group will increase its annual revenues by more
than EUR 100 million, in line with expectations. The EBIT margin for the toll
collection business is set to significantly exceed 10%, while the margin for the
IMS business will be adversely impacted by the integration and the lower EBIT
contribution of KTT, as well as the negative EBIT performance of Streetline.
You can find the report for the first half of 2016/17 at: http://kapsch.net/ktc/
Kapsch TrafficCom is a provider of intelligent transportation systems (ITS) in
the segments of toll collection, city access control and parking space
management, traffic management, traffic monitoring, utility vehicle monitoring,
electronic vehicle registration and V2X cooperative systems. The end-to-end
solutions of Kapsch TrafficCom cover the entire value creation chain of its
customers, from components and design to the installation and operation of
systems, all from a single source. The core business comprises the development,
installation and operation of electronic toll collection and traffic management
Reference projects in more than 50 countries on all continents have made Kapsch
TrafficCom a globally recognized ITS provider. As part of the Kapsch Group, an
Austrian family-owned technology group founded in 1892, Kapsch TrafficCom is
headquartered in Vienna, Austria, and has subsidiaries and branches in 33
countries. It has also been listed since 2007 on the Vienna Stock Exchange
(KTCG) and earned revenues of EUR 526 million in the 2015/16 fiscal year. The
company employs over 4,600 employees worldwide.
For further information: www.kapsch.net/ktc.
Followers on Twitter at twitter.com/kapschnet.
Further inquiry note:
Dr. Ingrid Lawicka
Am Europlatz 2, 1120 Wien, Österreich
Tel.: +43 50 811 1705
Mag. Hans Lang
Investor Relations Officer
Kapsch TrafficCom AG
Am Europlatz 2, 1120 Wien, Österreich
Tel.: +43 50 811 1122
end of announcement euro adhoc
company: Kapsch TrafficCom AG
Am Europlatz 2
phone: +43 1 50811 1122
FAX: +43 1 50811 99 1122
ISIN: AT000KAPSCH9, AT0000A0KQ52
indexes: Prime Market
stockmarkets: official market: Wien