EANS-News: Kapsch TrafficCom AG: Recent development of share value is incomprehensible
26.07.2013 – 09:01
-------------------------------------------------------------------------------- Corporate news transmitted by euro adhoc. The issuer/originator is solely responsible for the content of this announcement. -------------------------------------------------------------------------------- Company Information/Contracts Wien (euro adhoc) - Vienna, July 26, 2013 - The recent developments regarding the share price of Kapsch TrafficCom are "incomprehensible" explains Georg Kapsch, CEO Kapsch TrafficCom. The Vienna stock market reacted poorly to the disclosure that the commercial start of the Electronic Toll Collection System in Gauteng, a South African province, will not be effected mid July as previously considered. Kapsch was awarded the contract to implement the toll system in September 2009. The installation of the system was carried out quickly and efficiently however, various intended start-dates over the last few months have been postponed due to a variety of protests, interventions and objections. "The situation regarding the project has not changed over the last month, therefore there is no rationale for the sudden market reaction", stresses Kapsch. "Our system is ready to go and we are calmly waiting for a definite date to start with the commercial operation." The recent reports on the financial situation of the South African National Road Agency (SANRAL) clearly show that an urgent decision and an immediate start are desirable. The South African Government decided in 2009 that the maintenance and development of the road system in Gauteng will be funded by electronic tolling. "The delays jeopardize jobs and endanger the country's infrastructure", underlines Kapsch. "We are confident that governmental authorities in South Africa will act promptly and that all necessary steps will be taken soon." Zwtl.: 18,000 installed toll lanes, 80 million On-Board Units sold "Our company is involved in many successful projects around the world, and we are acting as a global provider", explains Kapsch. Kapsch TrafficCom has already installed 18,000 toll lanes around the globe. Kapsch has sold 80 million On- Board Units worldwide and has references from 43 countries on all continents. These include among others the successful tolling projects in Austria, Czech Republic and Poland as well as the ten year technology and service contract with the United States' E-ZPass Group, the world's largest interoperable toll collection system. Kapsch TrafficCom is a provider of intelligent transportation systems (ITS) in the application fields of road user charging, urban access and parking, road safety enforcement, commercial vehicle operations, electronic vehicle registration, traffic management and V2X cooperative systems. Kapsch TrafficCom covers with end-to-end solutions the entire value creation chain of its customers as a one-stop shop, from components and subsystems to their integration and operation. The solutions of Kapsch TrafficCom help to provide funding for infrastructure projects, to increase traffic safety, to optimize traffic flow, and to reduce environmental pollution from traffic. The core business is to design, build and operate electronic toll collection systems for multi-lane free-flow traffic. References in 43 countries on all continents make Kapsch TrafficCom a recognized supplier of electronic toll collection worldwide. As part of the Kapsch Group, a family-owned Austrian technology group founded in 1892, Kapsch TrafficCom, headquartered in Vienna, Austria, has subsidiaries and representative offices in 33 countries, has been listed on the Vienna Stock Exchange (KTCG) since 2007, and generated with more than 3,000 employees revenues of EUR 488.9 million in fiscal year 2012/13. For additional information: www.kapsch.net and www.kapschtraffic.com Follow us on Twitter: twitter.com/kapschnet. Further inquiry note: Press Contact: Mag. Katharina Riedl Spokesperson Kapsch AG Am Europlatz 2 1120 Vienna, Österreich phone: +43 50.811 1705 E-Mail: {katharina.riedl@kapsch.net} [HYPERLINK: mailto:katharina.riedl@kapsch.net] Investor Contact: Mag. Marcus Handl Investor Relations Officer Kapsch TrafficCom AG Am Europlatz 2 1120 Vienna, Österreich phone: +43 50.811 1120 E-Mail: {ir.kapschtraffic@kapsch.net} [HYPERLINK: mailto:ir.kapschtraffic@kapsch.net] end of announcement euro adhoc -------------------------------------------------------------------------------- company: 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