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EANS-News: With Program 2020, Kapsch TrafficCom AG lays a solid foundation for the future
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The issuer/originator is solely responsible for the content of this announcement. -------------------------------------------------------------------------------- 9-month report * Revenue increased by 8 % in the first three quarters, EBIT grew significantly by 82 % * Cost savings and increased earnings are clearly discernible * Project developments and a planned acquisition confirm the strategy * An EBIT margin of over 10 % is expected for the full year __________________________________________________________________________ |2015/16_Q1-Q3: 1 April-31 December 2015|2015/16 Q1-Q3|+/- % |2014/15 Q1-Q3| |_______________________________________|_____________|______|_____________| |Revenue_(in_million_EUR)_______________|379.2________|+8_%__|349.5________| |EBIT_(in_million_EUR)__________________|43.3_________|+82_%_|23.7_________| |Profit_for_the_period_(in_million_EUR)_|25.3_________|>500_%|1.0__________| Vienna, February 24, 2016 -Kapsch TrafficCom AG (ISIN AT000KAPSCH9), listed in the Prime Market of the Vienna Stock Exchange, demonstrated operational and strategic progress during the first three quarters of the 2015/16 fiscal year, and the impact and results of the forward-looking Program 2020 were clearly visible here. During the reporting period, the Kapsch TrafficCom Group obtained multiple new orders in the U.S.A. (including for an end-to-end solution), Chile, Australia and New Zealand. A city solution was put into operation in Italy, and the V2X technology of Kapsch TrafficCom will be employed in future in the Czech capital of Prague. In late summer, the company obtained a significant order for the delivery and installation of the traffic management systems within the framework of the cross-border program "CHARM" of the road authorities of the Netherlands and Great Britain. This advanced traffic management system will be the largest and most modern system in Europe; in this way, Kapsch TrafficCom secures for itself a globally recognized position in traffic management systems as well. The existing operation projects continued to represent a stable foundation during the reporting period, and the expansion of the systems in Belarus and Poland also contributed to revenue and earnings as expected. Subtitle: Asset, financial and earnings situation The revenue in the first three quarters of 2015/16 of EUR 379.2 million was 8.5 % above the previous year's value of EUR 349.5 million. The segment Road Solution Projects (RSP) and the segment Services, System Extensions, Components Sales (SEC) both contributed equally to the revenue growth. The EBIT increased by 82.2 % from EUR 23.7 million to EUR 43.3 million. This disproportionate growth is all the more impressive since the comparison value of the previous year was significantly elevated due to one-time effects. In the segment RSP, the new projects and in particular the successes of the "Top Fit" project brought about a significant improvement; however, the segment EBIT remains negative at EUR -12.9 million. In the segment SEC, the EBIT of EUR 54.6 million was 8.9 % below the value of the previous year. While the significant increase in on-board unit sales had a positive effect, the investment in the majority stake in the smart parking provider Streetline weighed down the result. The EBIT margin of the Kapsch TrafficCom Group has remained in the double digits for the last three quarters and is currently 11.4 %. The profit for the period rose from EUR 1.0 million to EUR 25.3 million during the reporting period, resulting in earnings per share of EUR 1.64. The free cash flow reached EUR 74.8 million after EUR 59.4 million in the same period of the previous fiscal year. The balance sheet figures also reflect a continuous improvement over the first three quarters of the fiscal year. The equity ratio increased to 45.2 %. Cash and cash equivalents increased to EUR 138.0 million as at the end of December and helped ensure that the Kapsch TrafficCom Group has turned net debt into a net cash position of EUR 24.5 million. Subtitle: Program 2020 and strategy Under the heading of "Program 2020", Kapsch TrafficCom implemented comprehensive measures for cost reduction and improved earnings with the project "Top Fit" in the past fiscal year and also adapted the strategy with respect to future developments and growth potential. The cost savings and organizational adaptations have already contributed significantly to operational excellence, and the savings were realized more effectively and more quickly than originally expected. The measures implemented will become fully apparent over the course of this fiscal year. Within the framework of Strategy 2020, Kapsch TrafficCom has set three priorities that are also reflected in the project developments: 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 December, Kapsch TrafficCom also concluded an agreement to take over the global transportation business of Schneider Electric, which encompasses integrated advanced traffic management solutions for cities, highways and transit solutions. This will enable Kapsch TrafficCom to offer integrated intelligent transportation solutions from the highway into the city. Furthermore, this will expand the group's presence in the growth markets of Spain, Latin America, the U.S.A. and the Middle East. The acquisition should be concluded in the coming weeks - subject to all agreed conditions. Subtitle: Outlook In the first three quarters of the fiscal year, Kapsch TrafficCom established a good basis for the future. The management therefore expects that the EBIT margin for the entire fiscal year 2015/16 will be above the 10 % mark that was set as an initial minimum target for the core business. From an operational perspective, Kapsch TrafficCom takes an optimistic view of the development of the existing projects, including for the coming fiscal year 2016/17. Several invitations to tender and additional potential projects also exist. The activities will continue to focus on the implementation of the strategy. In accordance with the changes in the business, the internal structures of the Kapsch TrafficCom Group - and therefore of the group's reporting as well - have followed a modified segmentation since the fourth quarter of the current fiscal year. This will be reported on in detail together with the annual figures, which will be back-calculated for purposes of comparability. In addition, Kapsch TrafficCom is planning further strategic steps for the future. Subtitle: Announcement The report on the first three quarters of the fiscal year 2015/16 can be downloaded from www.kapsch.net/ktc/investor_relations/reports/download/ Quarterly-reports/2015-16/KTC_IR_Report_FY16-Q1-Q3?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: Ingrid Lawicka Spokesperson Kapsch AG Am Europlatz 2, 1120 Vienna, Austria Phone +43 50 811 1705 E-mail firstname.lastname@example.org Investor contact: Marcus Handl Investor Relations Officer Kapsch TrafficCom AG Am Europlatz 2, 1120 Vienna, Austria Phone +43 50 811 1120 E-mail email@example.com 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: firstname.lastname@example.org WWW: www.kapschtraffic.com sector: Technology ISIN: AT000KAPSCH9 indexes: Prime Market stockmarkets: official market: Wien language: English
Original content of: Kapsch TrafficCom AG, transmitted by news aktuell