New revenues and profit forecast following a takeover
Ad hoc announcement acc. to Article 17 MAR
Karlsruhe/Berlin, 18 July 2016.
init innovation in traffic systems AG (ISIN DE 0005759807) increases its 2016 targets for revenues and profit. The acquisition of further stakes in iris-GmbH infrared & intelligent sensors and the conclusion of an option agreement to acquire the remaining 25.5 per cent of the sensor specialist in 2020 have corresponding positive effects. The Managing Board now expects that init will in the current fiscal year generate revenues of EUR 106m (previous forecast: EUR 100m) and operating earnings before interest and taxes (EBIT) of more than EUR 12m (previous: EUR 8m) at group level.
INIT Innovative Informatikanwendungen in Transport-, Verkehrs- und Leitsystemen GmbH, a wholly-owned subsidiary of init innovation in traffic systems AG, has completed the acquisition of a majority stake in the sensor specialist iris-GmbH as planned. Its stake in the company increased from 49 per cent to 74.5 per cent with effect from 7 July 2016. Furthermore, an option to acquire the remaining 25.5 per cent in June 2020 was concluded.
After the acquisition, iris-GmbH will continue to operate independently and will supply both init and enhanced also other companies with its superior sensor technology.