EANS-Adhoc: Kapsch TrafficCom finished a weak fiscal year 2012/13 with an outstanding fourth quarter
11.06.2013 – 08:31
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The issuer is solely responsible for the content of this announcement. -------------------------------------------------------------------------------- Financial Figures/Balance Sheet/Company Information 11.06.2013 - The company has passed through a transition period on the way to new projects and structures - Revenue and earnings are below expectations, but the balance sheet demonstrates financial potential - Proposed dividend of EUR 0.40 corresponds to a 54% payout ratio - Strategy and organizational structure are aligned with further growth on the ITS market _________________________________________________________________________ | |1_April-31_March_____|___2012/13____|_________+/-_________|___2011/12____| | |Revenues (in million | 488.9 | -11 % | 549.9 | |EUR)_________________|______________|_____________________|______________| | |EBIT_(in_million_EUR)|_____15.3_____|________-64_%________|_____42.2_____| | |Profit for the period| 16.7 | -39 % | 27.5 | |(in_million_EUR)_____|______________|_____________________|______________| | |Earnings per share | 0.74 | -54 % | 1.62 | |(in_EUR)*____________|______________|_____________________|______________| | |Dividend per share | 0.40** | -56 % | 0.90 | |(in_EUR)_____________|______________|_____________________|______________| * Earnings per share 2012/13 relate to 13.0 million shares, 2011/12 relate to a weighted average number of 12.74 million shares ** Proposal of the executive board subject to approval of the shareholders? meeting on 12 September 2013 Vienna, 11 June 2013 -Kapsch TrafficCom AG (ISIN AT000KAPSCH9), listed on the Vienna Stock Exchange in the prime market segment, is reporting on its fiscal year 2012/13 as a transition period in terms of projects and the company's organizational structure, which was retooled during the reporting period for the planned continuation of growth. The Kapsch TrafficCom Group made significant progress during the past fiscal year, although the investments in the future as well as project delays led to lower revenues with simultaneously high expenditures. The earnings figures of the reporting year therefore lie clearly below the targets of the executive board. The revenue in the fiscal year 2012/13 was EUR 488.9 million, which is 11.1 % below the previous year's value of EUR 549.9 million. This decline reflects, on one hand, the fact that the major installation projects in Poland and South Africa were already completed but the new projects were of smaller overall volume and only began contributing revenue as of the second half of the year. On the other hand, the operation revenues in Poland and South Africa were still significantly below expectations since the completed system in South Africa did not go into operation by the end of the fiscal year and the revenues earned in Poland reached the expected levels only as of the third quarter. Only in the fourth quarter did the improved system operation in Poland together with progress in the project in Belarus enable a significant increase in revenue, making the quarterly earnings more than satisfactory at EUR 24.9 million. For the entire year, the EBIT was EUR 15.3 million, following EUR 42.2 million in the previous year. This puts the EBIT margin at 3.1 %, considerably below the previous year's value of 7.7 %. The executive board will recommend to the annual general meeting on 12 September 2013, the payment of a dividend of EUR 0.40 per share (2011/12: EUR 0.90 per share) for the fiscal year 2012/13. The payout ratio is therefore roughly 54 % (2011/12: roughly 57 %). The balance sheet of the Kapsch TrafficCom Group paints an extremely solid picture. The conclusion of the system implementation in Poland and the associated payment of the last milestone from construction of the system in the first quarter of the reporting year led to noticeable improvements compared with the balance sheet date of 31 March 2012. The free cash flow, which was negative in the comparison period, amounted to EUR 48.3 million at the end of the reporting year. This confirms that Kapsch TrafficCom has the necessary financial potential for the planned growth. The fiscal year 2013/14 will be marked by a continuation of the existing projects. In particular, the further developments in South Africa will influence the revenue and earnings situation. In addition, an invitation to tender has already begun in Slovenia. Kapsch TrafficCom expects additional tenders in Belgium and the U.S.A. Extensive toll systems are under discussion in Bulgaria, Russia and the surrounding countries as well as in Germany, and these discussions are also being followed with great interest. An overview of the fiscal year 2012/13 (key aspects and figures) can be found at http://www.kapsch.net/ktc/investor_relations/reports/download/KTC_Key- Aspect_FY13?lang=en-US. The annual financial statements and the annual report will be published sooner than planned on 14 June 2013 (instead of 26 June 2013). Further inquiry note: Marcus Handl Investor Relations Officer Kapsch TrafficCom AG Am Europlatz 2 1120 Vienna, Austria phone: +43 50.811 1120 email: {ir.kapschtraffic@kapsch.net} [HYPERLINK: mailto:ir.kapschtraffic@kapsch.net] Press contact: Katharina Riedl Unternehmenssprecherin Kapsch AG Am Europlatz 2 1120 Vienna, Austria phone: +43 50.811 1705 email: {katharina.riedl@kapsch.net} [HYPERLINK: mailto:katharina.riedl@kapsch.net] end of announcement euro adhoc -------------------------------------------------------------------------------- issuer: Kapsch TrafficCom AG Am Europlatz 2 A-1121 Wien phone: +43 1 50811 1122 FAX: +43 1 50811 99 1122 mail: ir.kapschtraffic@kapsch.net WWW: www.kapschtraffic.com sector: Technology ISIN: AT000KAPSCH9 indexes: Prime Market stockmarkets: official market: Wien language: English