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29.03.2012 – 15:50

init innovation in traffic systems AG

EANS-News: init innovation in traffic systems AG
init on course for further growth through innovations

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Annual Reports/press and analyst conference on financial statement

Karlsruhe (euro adhoc) - init on course for further growth through innovations 
* 2011 net profit up by 50 per cent, dividend to increase by 30 per cent to EUR
* Positive trend in transport telematics market continues after seven record
* Sales target for 2012: "more than EUR 95m", order backlog currently at around
EUR 118m

Karlsruhe/Frankfurt, 29 March 2012. After as many as seven record years in a
row, init innovation in traffic systems AG (ISIN DE 0005759807) continues on
course for growth. "The record figures achieved in 2011 actually pre-empt some
of the growth expected this year, but we are confident that sales and earnings
in 2012 will grow further still in 2012," the Managing Board confirmed today at
the analyst and press conference held on the group´s financial statements in
Frankfurt. At around EUR 118m, orders on hand were said to be at a high level
and may further increase over the next few weeks when a number of major projects
will come to a decision. Currently, revenues are expected to total "more than
EUR 95m" in 2012.

Shareholders of init can also expect higher dividends. The Managing Board and
the Supervisory Board plan to propose a payout of EUR 0.80 (2010: EUR 0.60) at
the annual general meeting scheduled for 16 May. "We deliberately want to send a
positive signal for the future," said init founder and CEO Dr. Gottfried
Greschner on presentation of the 2011 annual report.

First operating result (EBIT) to rise above EUR 20m

After a strong last quarter, sales and earnings in the init group notably
exceeded the targets set for 2011. Revenues rose by around 10 per cent to EUR
88.7m (2010: EUR 80.9m). Profits grew more strongly still presenting an even
more satisfactory result with the group´s annual net profit up by 50 per cent to
EUR 15.1m (2010: EUR 10.0m). This corresponds to earnings per share of EUR 1.51
(2010: EUR 1.00). For the first time, earnings before interest and taxes (EBIT)
also climbed to EUR 20.4m (2010: EUR 15.1m). This saw the equity ratio peak at
26.4 per cent (2010: 21.5 per cent).
The Managing Board, however, also stressed that this above-average growth in
earnings had been furthered by two special factors in 2011. At EUR 1.3m, the
EBIT included the reduction of the risk provision for Dubai made possible after
payments had been received, along with a special effect from the full takeover
of id systeme GmbH to the amount of around EUR 1.5m. The Managing Board as a
result specified a target EBIT for 2012 of EUR 19m "+X".

According to Dr Greschner, the long-term growth scenario in the market for
telematics, planning and electronic fare collection systems in public transport
continues to be intact. "All over the world, public transport systems need to be
set up, developed and modernised. This is apparent to us in the increasing
number of international tenders and in the plethora of packages providing
measures aimed at developing the transport infrastructure."

The init CEO believes two trends to play an increasingly important role - the
networking of telematics systems in local and long-distance transport, and the
merging of ticketing and telematics systems. Both trends were picked up early on
by init and translated into approved solutions in cooperation with customers. As
a result, more than 3,000 vehicles of various transport operators in Bavaria now
use an integrated system from init. In addition, init is installing the first
e-ticketing project in Sacramento in the USA based on a highly innovative
technology; passengers can now buy and pay contactless for tickets using their
credit cards virtually in passing.
Interest from Asia in init innovations

Technological innovations such as these are intended to help init continue its
growth momentum over the next few years. This includes special software
solutions geared to facilitating the process of optimising the deployment of
vehicles so that transport operators can cut three to five vehicles in a fleet
of 100. This has met with keen interest particularly in Asia. Recently, init
also introduced passenger information "apps" for all types of smartphones and
for real-time analysis of statistical data for transport operators. In a further
move, init is heavily involved in the sector-wide research project "European Bus
System of the Future" (EBSF).
"With all the new potential opening up to us, we cannot afford to ignore though
that the general economic risks have visibly increased over the last few
months," the CEO stressed in his outlook. 

The annual report of init innovation in traffic systems AG is now available on
the Internet at and on the website of Deutsche Börse. 

For further information please contact:

Alexander Güntert
init innovation in traffic systems AG
Kaeppelestraße 6
76131 Karlsruhe / Germany
Tel: +49.721.6100.316
Fax: +49.721.6100.399

Sebastian Brunner
Tel: +49.175.5604673

Further inquiry note:
Alexander Güntert
Tel.: +49 (0)721 6100-316

end of announcement                               euro adhoc 

company:     init innovation in traffic systems AG
             Käppelestraße 6
             D-76131 Karlsruhe
phone:       +49(0)721 6100-0
FAX:         +49(0)721 6100-399
sector:      Semiconductors & active components
ISIN:        DE0005759807
indexes:     CDAX, Prime All Share, Technology All Share
stockmarkets: free trade: Hannover, Berlin, München, Hamburg, Düsseldorf,
             Stuttgart, regulated dealing/prime standard: Frankfurt 
language:   English

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