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EANS-News: Kapsch TrafficCom AG strengthens its earning power and strategy in the first half fiscal year
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The issuer/originator is solely responsible for the content of this announcement. -------------------------------------------------------------------------------- 6-month report * Revenue up slightly, EBIT increased by 56 % despite one-time effects in the previous year * New projects reflect the strategy * Results demonstrate the success of cost savings * Additional orders and tenders expected, next strategic steps planned 2015/16 H1: 1 April-30 September 2015 | 2015/16 H1 | +/- % | 2014/15 H1 ______________________________________|____________|_______|___________ Revenue (in million EUR) | 245.0 | +3 % | 237.4 EBIT (in million EUR) | 27.4 | +56 % | 17.6 Profit for the period (in million EUR)| 19.2 | >500 %| 0.9 Vienna, 19 November 2015 - Kapsch TrafficCom AG (ISIN AT000KAPSCH9), listed in the Prime Market of the Vienna Stock Exchange, achieved both operational and strategic successes in the first half of the fiscal year 2015/16. The Program 2020, which was initiated in the previous year, has proven effective; the newly obtained projects reflect the strategy, and the results of the first half year confirm that the project "Top Fit" is also contributing to increased earning power. During the reporting period, Kapsch TrafficCom Group succeeded in obtaining important new projects. Foremost among these is the award for the cross-border tender for the "CHARM" program from the road authorities of the Netherlands and England. Kapsch TrafficCom will deliver and install an advanced traffic management system for both countries that will enable the integration of existing infrastructure as well as future applications and technologies. With this system, the Kapsch TrafficCom Group attains a globally recognized position in traffic management systems (TMS) just as it already has in the area of electronic toll collection (ETC). In Belarus, the company received the order for an expansion of the existing nationwide toll system. In Chile, Kapsch TrafficCom obtained multiple orders in the first half of the year, and one of the new toll sections on the famous Panamericana will also be equipped with an intelligent transportation system (ITS). The demand for city solutions can be seen in the access system put into operation in the Italian city of Prato in July as well as in the order for a traffic management system in the Czech capital city Prague. Both systems confirm the strategy of expanding the current core business from highways to include cities as well. During the first quarter of this year, Kapsch TrafficCom received its first order for an end-to-end solution in the U.S.A. for the Ohio River Bridges, thereby gaining recognition as a complete provider in this market as well. This reference will open up new potential on the U.S. market. The existing operation projects supplied a stable revenue contribution during the reporting period. The system in Poland, already the largest toll system operated by Kapsch TrafficCom, will be expanded once again. The sale of on-board units also developed well during the first half of the year. After delays in the previous year, a significant upward trend was apparent, and the sales figures once again reached the high level of two years ago. Subtitle: Assets, financial and earnings situation The revenue of EUR 245.0 million was 3.2 % above the previous year's value of EUR 237.4 million. The EBIT increased from EUR 17.6 million in the comparison period of the previous year by an impressive 55.9 % to EUR 27.4 million. This improvement is particularly pleasing since the EBIT was very high in the previous fiscal year due to one-time effects. In the segment Road Solution Projects (RSP), the newly obtained projects as well as the initial successes of the project "Top Fit" with measures for cost reduction and improved earnings enabled a significant improvement; however, the segment EBIT was still negative at EUR -9.2 million. In the segment Services, System Extensions, Components Sales (SEC), the EBIT was EUR 35.6 million, which is 11.6 % below the previous year's value. This can be attributed to the one-time effects in the previous year and the costs of the company Streetline acquired in April which are contained in this segment. The EBIT margin of the Kapsch TrafficCom Group reached 11.2 %, which is within the scope of the targeted profitability. The profit for the period also increased significantly from EUR 0.9 million in the comparison period of the previous year to EUR 19.2 million. The profit per share, which represents the profit share of the shareholders, improved from EUR -0.27 to EUR 1.28. The balance sheet figures show the potential of the Kapsch TrafficCom Group for future projects and endeavors. The equity ratio rose to 44.4 %, the net debt was reduced to its lowest level since 2012/13, amounting to EUR -19.1 million after EUR -75.9 million on the key date of the previous year, 30 September 2014. Cash and cash equivalents increased to EUR 102.3 million, and the free cash flow in the first half of the year was EUR 30.3 million, after EUR 25.5 million in the same period of the previous year. Subtitle: Program 2020 and strategy The Program 2020, which was initiated in the previous year, comprises important steps for strengthening the earning power and enabling future growth in the form of the "Top Fit" project and the adaptation of the strategy. The strategy presented in April of this year initially sets three priorities: The first is operational excellence, the second is the strengthening and securing of the core business and the third is the establishment of an intelligent mobility solutions (IMS) business. In terms of both projects and results, the developments in the first half of the 2015/16 fiscal year confirm that Kapsch TrafficCom is on the right path. In addition, the executive board of Kapsch TrafficCom AG has been reinforced since November 2015 by Dr.-Ing. Alexander Lewald as Chief Technology Officer (CTO). He brings with him considerable technical expertise, including in the IMS area. Subtitle: Outlook In the second half of the current fiscal year, the Kapsch TrafficCom Group will pursue the concerted development of existing and newly acquired projects. The system expansions in Belarus and Poland will make an important contribution to revenue and profit. In addition, the company expects additional invitations to tender and decisions on the awarding of orders. An emphasis will be placed on the continued implementation of the strategy, with associated organizational adjustments and specific next steps. The cost savings of the project "Top Fit" will be fully apparent by the end of the fiscal year. On the basis of the promising results for the first half of the year, the management anticipates that the Kapsch TrafficCom Group will achieve an EBIT margin of 10 % in the core business, as expected, assuming a stable revenue level over the current fiscal year. This allows sufficient leeway for additional investments in the future, such as the development of the smart parking business with Streetline. Subtitle: Announcement The report on the first half of the 2015/16 fiscal year can be downloaded from http://www.kapsch.net/ktc/investor_relations/reports/download/Quarterly-reports/ 2015-16/KTC_IR_Report_FY16-H1?lang=en-US. Kapsch TrafficCom is a provider of intelligent transportation systems (ITS) in the segments of toll collection, city access control and parking space management, traffic management, traffic monitoring, utility vehicle monitoring, electronic vehicle registration and V2X cooperative systems. The end-to-end solutions of Kapsch TrafficCom cover the entire value creation chain of its customers, from components and design to the installation and operation of systems, all from a single source. The core business comprises the development, installation and operation of electronic toll collection and traffic management systems. Reference projects in 44 countries on all continents have made Kapsch TrafficCom a globally recognized ITS provider. As part of the Kapsch Group, an Austrian family-owned technology group founded in 1892, Kapsch TrafficCom is headquartered in Vienna, Austria, and has subsidiaries and branches in 33 countries. It has also been listed since 2007 on the Vienna Stock Exchange (KTCG) and earned revenues of EUR 456 million in the 2014/15 fiscal year with over 3,500 employees. For more information: www.kapsch.net and www.kapschtraffic.com. Follow us on Twitter at twitter.com/kapschnet. Further inquiry note: Press contact: Dr. Ingrid Lawicka Spokesperson Kapsch AG Am Europlatz 2, 1120 Vienna, Austria Tel.: +43 50 811 1705 E-mail: email@example.com Investor contact: Marcus Handl Investor Relations Officer Kapsch TrafficCom AG Am Europlatz 2, 1120 Vienna, Austria Tel.: +43 50 811 1120 E-mail: firstname.lastname@example.org 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: email@example.com WWW: www.kapschtraffic.com sector: Technology ISIN: AT000KAPSCH9 indexes: Prime Market stockmarkets: official market: Wien language: English
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