Ad hoc release in compliance with § 15 WpHG
Karlsruhe, 31 July 2013.
The Managing Board of init innovation in traffic systems AG is confident that the revenues and earnings target for 2013 (revenues of EUR 105m, EBIT of EUR 18m) remains achievable based on preliminary figures now available for the first half of the year. Although second-quarter revenues and earnings were below expectations, a number of major projects will enter the rollout phase in the third and fourth quarters, with corresponding revenues being generated through production, delivery and installation of hardware.
Growth in incoming orders remained positive, advancing to EUR 36.3m (2012: EUR 29.0m). Order backlog now stands at EUR 180m; a year-on-year increase of 56 per cent. init has posted half-year earnings of EUR 37.1m (previous year: EUR 42.1m), and gross profit of EUR 14.1m (previous year: EUR 14.5m) was able to boost the gross margin by more than 3 per cent. Operating earnings before interest and tax (EBIT) fell to EUR 4.2m due to lower revenues of EUR 7.6m. Net profit after tax is EUR 2.8m (previous year: EUR 5.0m), bringing earnings per share to EUR 0.29 (previous year: EUR 0.52).
The full interim report for the first half of 2013 will be published on 8 August 2013.
