init innovation in traffic systems AG

EANS-Adhoc: init innovation in traffic systems AG
2009: init tops sales and earnings expectations for another year

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  ad-hoc disclosure pursuant to section 15 of the WpHG transmitted by euro
  adhoc with the aim of a Europe-wide distribution. The issuer is solely
  responsible for the content of this announcement.
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03.03.2010

2009: init tops sales and earnings expectations for another year

Karlsruhe, March 3, 2010. init innovation in traffic systems AG once again exceeded its sales and earnings targets in fiscal 2009. Based on the provisional figures now available, the global supplier of telematics, planning and electronic fare payment systems generated revenues of EUR 65m, up by 16% on the previous year (EUR 56.0m).

Gross profit on sales increased by 33.7% to EUR 23m (2008: EUR 17.2m). Sales and administration costs rose less drastically than sales. Earnings before interest and taxes (EBIT) in 2009 thus improved by over 36% to EUR 11.8m (2008: EUR EUR 8.6m). This along with sales marked the fifth record in a row.

Group profit for the year grew to EUR 8.3m (2008: EUR 5.9m), which corresponds to earnings per share of EUR 0.84 (2008: EUR 0.60).

In 2009, the growth trend in the market for init solutions remained unaffected by the general financial and economic crisis. Based on current figures, it continues to be intact. In the preceding financial year, init booked new orders worth EUR 92.3m (2008: EUR 70.8m). Incoming orders thus top sales by 42%. The order volume as at the end of 2009 totalled EUR 132m, some 17% above the prior-year figure (EUR 112.8m).

In 2010, init expects again a great number of tenders, as additional funds in the billions will be made available worldwide within the context of economic aid programmes to develop intelligent transport infrastructure. Against this background, the Managing Board projects an increase in sales and EBIT by at least 10%.

The 2009 annual financial statements and detailed prospects for 2010 will be presented by the Managing Board at the press and analyst conference on the financial statements held in Frankfurt on March 30, 2010.

end of announcement                               euro adhoc
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Further inquiry note:

Alexandra Weiß
Investor Relations
Telefon: +49(0)721 6100-102
E-Mail: aweiss@initag.de

Branche: Semiconductors & active components
ISIN: DE0005759807
WKN: 575980
Index: CDAX, Prime All Share, Technology All Share
Börsen: Frankfurt / regulated dealing/prime standard
Berlin / free trade
Hamburg / free trade
Stuttgart / free trade
Düsseldorf / free trade
Hannover / free trade
München / free trade
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