init innovation in traffic systems AG

euro adhoc: init innovation in traffic systems AG
quarterly or semiannual financial statement
init continues on record course - sales and earnings above plan

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6-month report


init innovation in traffic systems AG continued its growth trend in the second quarter to finish above plan in both sales and earnings at the end of the first six months.

From April to June 2007 the Karlsruhe-based telematics specialist generated revenues of 11.7 mio. EUR (2006: 10.6 mio. EUR) topping the prior-year record level. At the end of the first half of 2007, init sales totaled 19.4 mio. EUR, which corresponds to an increase of 16.2 percent on the previous year (16.7 mio. EUR). The gross operating result as at the end of June thus also increased and stood at 6.7 mio. EUR (2006: 6.3 mio. EUR).

Due to a significant increase in engineering services, for a number of large-scale projects which are due to affect income in the latter half of the year, and the currency losses resulting from falling US dollar prices, the earnings before interest and taxes (EBIT) amounted to 1.2 mio. EUR (2006: 2.3 mio. EUR). The group´s period surplus aggregated 0.8 mio. EUR (2006: 1.6 mio. EUR), which corresponds to earnings per share of 0.09 EUR (2006: 0.17 EUR).

Traditionally, group sales at init spread unevenly throughout the fiscal year. While the first two quarters usually prove weakest in terms of revenues, the lion share is generated in the fourth quarter. Consequently, the operating result after the first six months generally tends to be relatively low. In the current fiscal year, however, sales developed above plan to finish yet again with a positive result.

In the latter half of the year, init anticipates a spurt in growth with above-average earnings due to the commencement of deliveries for two major projects. The order situation at init also continues to be highly satisfactory. As at the end of June, the order volume totaled 69.1 mio. EUR (2006: 57.1 mio. EUR). In the third quarter, the group expects further large-scale projects to materialize. Against this background, the Managing Board has confirmed its growth forecast for 2007 with revenues of some 45 mio. EUR (2006: 36.3 mio. EUR) and earnings before interest and taxes (EBIT) of 6.5 mio. EUR (2006: 5.6 mio. EUR).

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ots Originaltext: init innovation in traffic systems AG
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Further inquiry note:
Alexandra Weiß
Investor Relations
Telefon:  +49(0)721 6100-102

Branche: Semiconductors & active components
ISIN:      DE0005759807
WKN:        575980
Index:    CDAX, Prime All Share, Technologie All Share
Börsen:  Börse Frankfurt / regulated dealing/prime standard
              Börse Berlin / free trade
              Börse Hamburg / free trade
              Börse Stuttgart / free trade
              Börse Düsseldorf / free trade
              Börse Hannover / free trade
              Börse München / free trade

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