Ad hoc release in compliance with § 15 WpHG
Karlsruhe, 05 November 2013.
Based on preliminary figures for the third quarter, init innovation in traffic systems AG eked out marginal growth in revenues and earnings but remained below target as at the end of September. Reasons for this include delays in major projects as well as exchange rate effects resulting from a weaker US dollar. On the current state, the managing board is confident that the revenues and earnings target (revenues of EUR 105m, EBIT of EUR 18m) remain widely achievable. The fourth quarter has traditionally proved to generate the highest revenues for init.
The group’s medium and long-term growth prospects continue to be intact. The order backlog of more than one-and-a-half-times of annual revenues already now extends far into 2015. It aggregated EUR 163m as at 30 September 2013 (previous year: EUR 185m). By mid-October two projects with signalling effect were added in Finland and France, worth a total of more than EUR 8m.
Based on preliminary figures for the third quarter of 2013, revenues at init rose by a good 7 per cent on the previous year to EUR 24m (Q3 2012: EUR 22.4m), with operating earnings before interest and taxes (EBIT) improving to EUR 3.3m (Q3 2012: EUR 3.2m).
Group revenues totalled EUR 61.1m as at the end of September (Q1-Q3 2012: EUR 64.4m). At EUR 7.5m, earnings before interest and taxes (EBIT) also remained below the prior-year benchmark (Q1-Q3 2012: EUR 10.7m). Net profit as at the end of September stood at EUR 5.1m (Q1-Q3 2012: EUR 7.2m), which translates into earnings per share of EUR 0.51 (Q1-Q3 2012: EUR 0.74).
Revenues and earnings are expected to improve significantly by the end of the year. Moreover, init is currently participating in further tenders worth more than EUR 100m in total.
The full report for the first nine months of the 2013 financial year will be published on 8 November 2013.
