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28.10.2005 – 08:37

init innovation in traffic systems AG

euro adhoc: init innovation in traffic systems AG
Financial Figures/Balance Sheet
Further increase in projected 2005 earnings for init

  Disclosure announcement transmitted by euro adhoc.
  The issuer is responsible for the content of this announcement.
After a successful third quarter, init innovation in traffic systems
AG has made a further upward adjustment to its projected results for
2005: The earnings before interest and taxes (EBIT) in the current
fiscal year are thus expected to exceed the 3 million Euro mark. The
figures published in the nine-month report now available revealed
that at 2.2 million Euro (2004: -3.5 million Euro), the previous
annual projection,  has already be exceeded as of the end of the
third quarter. At the same time, the revenue increased by 34.7 per
cent over the same period, from 17.0 million Euro in 2004 to 22.9
million Euro. These are the highest figures ever achieved at this
point and means that init has surpassed its previous record set in
2001. The consolidated surplus as of the end of September already
aggregated 1.2 million Euro (2004: -2.3 million Euro) and thus also
reached a new peak in this period. Consequently, the earnings per
share stood at 0.12 Euro (2004: -0.24 Euro). Along with the success
of the savings measures introduced in 2004, this sustained increase
in profitability also reveals an improvement in project margins. On
account of the successful completion of the large-scale project in
Houston in the third quarter, init also recorded a distinctly
positive cash flow trend. The influx of funds from operating
activities thus reached the highest level to date, increasing from
-0.4 million Euro in 2004 to 4.6 million Euro as of the end of
September 2005. In the fourth quarter - traditionally the period
recording the highest sales - the Karlsruhe-based specialist in
telematics and fare collection systems for buses and trains
anticipates a continuation of its growth dynamism. This forecast is
based both on the current level of incoming orders which, at 21.4
million Euro, exceeds the figure for the previous year (20.6 million
Euro), and on the tender decisions expected in the next few weeks.
The trend in Germany was also registered with particular
satisfaction, as incoming orders here picked up sharply over the past
few weeks. At 12.5 million Euro, this figure almost trebled the
prior-year result. The full nine-month report will be published in
end of announcement                               euro adhoc 28.10.2005 08:01:04

Further inquiry note:

Alexandra Weiß
Investor Relations
Telefon: +49(0)721 6100-102

Branche: Semiconductors & active components
ISIN: DE0005759807
WKN: 575980
Index: CDAX, Prime All Share, Technologie All Share
Börsen: Frankfurter Wertpapierbörse / regulated dealing
Berliner Wertpapierbörse / free trade
Hamburger Wertpapierbörse / free trade
Baden-Württembergische Wertpapierbörse / free trade
Börse Düsseldorf / free trade
Niedersächsische Börse zu Hannover / free trade
Bayerische Börse / free trade
Bremer Wertpapierbörse (BWB) / free trade

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