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28.03.2013 – 10:01

init innovation in traffic systems AG

EANS-News: init innovation in traffic systems AG
init affirms positive outlook for 2013: For the first time revenues will exceed the EUR 100 million mark

  Corporate news transmitted by euro adhoc. The issuer/originator is solely
  responsible for the content of this announcement.

annual report

Karlsruhe/Frankfurt, 28 March 2013 (euro adhoc) - Record order backlog of EUR
177 million sustainably holds on to good growth prospects
Incoming orders should once again be over EUR 100 million in the current year
New growth potential in the rail sector and in Asia

In 2013 init innovation in traffic systems AG (ISIN DE 0005759807) is preparing
to exceed the EUR 100 million mark in revenues for the first time after nine
consecutive growth years. "With a record order backlog of EUR 177 million we
have already secured a majority of revenues for 2013 and 2014. Therefore, in our
planning for 2013 we are currently assuming an increase in revenues to EUR 105
million with a operating performance (EBIT) of EUR 18 million," init founder and
chairman of the Managing Board Dr. Gottfried Greschner affirmed the positive
outlook of the company today when presenting the annual report for 2012. The
system house based in Karlsruhe also expects incoming orders of more than EUR
105 million again for the year 2013, which is generally expected to be a very
difficult economic year.
With integrated solutions for telematic, planning and electronic payments
systems, today init is a sought-after partner for transportation companies on
four continents for the development of their intelligent infrastructures. "We
can expand our range of services technologically and regionally on this
foundation and in so doing, appropriately participate in the expected growth of
our industry," said Greschner. The number of passengers using public transport
systems will double worldwide by 2025. "This too makes our market very, very
exciting and opens up sustainable growth potential for init."
By 2018 Asia-Pacific could become init's largest market
The Managing Board of init sees sustainable growth potential in the future above
all in the Asian-Pacific region. For this reason, INIT Asia-Pacific Pte. Ltd.
took up its work in Singapore in November 2012 and is to participate in large
upcoming tenders in this region. "Judging by the response to our initial
ac-tivities, our chances are good in this region for making more revenues in
five years' time than in our currently largest market North America. But we will
also be seeing larger tenders in Europe and in the Middle East in the short
term," Greschner emphasized.
Furthermore, init is preparing its entry into the rail sector. An innovative,
sensor-based and effective passenger counting system was developed especially
for this new business field. It is characterized by high accurateness, thus
creating new options for rail operators to optimise their vehicle use and
service offers. 
Consistent dividend for financial year 2012
Due to its intact growth perspective and the continued excellent liquidity
position, the Managing Board also intends to propose to the Annual General
Meeting of init innovation in traffic systems AG on 16 May 2013 the same high
dividend of EUR 0.80 per no-par-value share, even though the earnings per share
in 2012 - above all due to a higher tax rate - fell to EUR 1.11 (2011: EUR
1.51). "We intend to continue to pay our shareholders a proper dividend and in
future years we will strive to increase it again as earnings rise," said
In the report about the financial year 2012 just ended, Greschner expressed his
satisfaction overall despite the drop to EUR 10.9 million in the consolidated
net profit (2011: EUR 15.1 million). "We have reached our goals for revenues,
but what particularly counts is that we significantly increased our order volume
to EUR 177 million (2011: EUR 117 million). That means that we are clearly on a
course of growth," said the Chairman of the Managing Board.
In comparing with the previous year it has also to be taken into account that in
2011 the EBIT was affected by two special factors, namely the reversal of the
risk provision for Dubai and the appreciation, as prescribed by IFRS, of the
company shares held by init resulting from the complete takeover of id systeme
GmbH. These special effects made up a total of around EUR 3 million in 2011.
Taken this into account, init did not perform worse operationally in 2012 than
in the previous year. As already reported ad hoc on 6 March, the EBIT came to
EUR 17.3 million (previous year: EUR 20.4 million). This also reflects
investment costs for new markets such as Asia and France, production start-up
costs of the newly established US subsidiary SQM (Superior Quality
Manufacturing, LLC) in the amount of EUR 0.4 million, an unscheduled loss by the
subsidiary CarMedialab in the amount of EUR 0.5 million, and a value adjustment
for accounts receivable in Dubai amounting to EUR 0.6 million. 
As already reported, the group revenues of init in the financial year ended
increased by 9.6 percent to EUR 97.3 million (2011: EUR 88.7 million). At the
same time, the group's incoming orders amounted to a record figure of EUR 152.2
million (2011: EUR 81.4 million). 
The annual report of init innovation in traffic systems AG is now available on
the Internet at as well as on the website of the Deutsche Börse.

Further inquiry note:
Simone Fritz
Investor Relations
Tel.: +49 (0)721/6100-115

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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