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21.02.2019 – 07:15

Kapsch TrafficCom AG

EANS-News: Kapsch TrafficCom AG ? Results for the first three quarters of 2018/19. - ATTACHMENT

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Quarterly Report

Vienna - Highlights.

* Record revenues in the third quarter
* Both segments with increased revenues in Q3, positive EBIT development
* However, better results were prevented by a write-down in the amount of EUR
  4.0 million
* At the beginning of the fiscal year, deferments in existing projects led to a
  decline in revenues and EBIT
* After nine months: revenues 5.2% above the same period in the previous year,
  EBIT 4.9% below the same period in the previous year
* Outlook for the fiscal year: revenues above and EBIT at the previous year's
  level


"The third quarter of 2018/19 was very successful for Kapsch TrafficCom. We
recorded the highest quarterly revenues in the history of the Group and were
able to greatly increase profitability at the same time. New major orders in
Germany, dynamic developments in US business and a new contract in Poland are
only a few selected highlights", according to Georg Kapsch, the CEO of Kapsch
TrafficCom.


Unless
otherwise
stated,            Q3         Q3         +/- Q1-Q3 2017/ Q1-Q3 2018/         +/-
all values    2017/18    2018/19                      18          19
in EUR
million
Revenues        167.1      197.2      +18.1%       506.9       533.1       +5.2%
EBIT             10.0       15.8      +57.1%        35.3        33.6       -4.9%
EBIT             6.0%       8.0%      +2.0%p        7.0%        6.3%      -0.7%p
margin
Profit for        8.9       13.5      +52.5%        22.9        21.9       -4.5%
the period
Earnings
per share        0.70       1.07      +52.9%        1.80        1.77       -1.9%
(EUR)


Vienna, February 21, 2019 - A very strong third quarter largely helped Kapsch
TrafficCom make up for the disappointing results at the beginning of the fiscal
year. The company generated revenues of EUR 533.1 million in the first three
quarters of 2018/19 (+5.2% over the same period in the previous year). EBIT was
EUR 33.6 million (-4.9%). After the first half of the year, EBIT was still 29.5%
below that of the previous year. However, the write-down of a tax asset in
Brazil in the amount of EUR 4.0 million prevented an even better outcome. The
EBIT margin was 6.3% (previous year: 7.0%).

The financial results in the first three quarters of 2018/19 amounted to EUR -
2.3 million and improved by EUR 1.8 million over the previous year. A positive
one-off effect from the sale of the minority interest in the US company
ParkJockey (EUR 5.1 million) was neutralized by negative foreign currency
effects, especially in connection with the South African Rand (EUR -5.3
million). Tax expenses amounted to EUR 9.4 million (previous year: EUR 7.7
million). Profit for the period of Q1-Q3 2018/19 was EUR 21.9 million (previous
year: EUR 22.9 million), which corresponds to earnings per share of EUR 1.77
(previous year: EUR 1.80).

At EUR -32.7 million, the free cash flow was significantly below the previous
year's level of EUR +40.6 million. This was primarily due to higher receivables
and inventories. Due to the negative free cash flow and the payout of dividends
(EUR 19.5 million), net debt increased to EUR 42.9 million (March 31, 2018: net
cash of EUR 16.2 million). This represents a gearing of 18.3%. The equity ratio
remained strong at 37.1% (March 31, 2018: 37.0%).


Zwtl.: Segment Results

In the first nine months of 2018/19, 76.3% of revenues were generated by the ETC
segment and 23.7% by the IMS segment. 60.3% of the revenues were generated in
the region Europe-Middle East-Africa (EMEA), 32.8% in the region Americas (North
America and South America) and 6.9% in the region Asia-Pacific (APAC).


ETC (ElectronicToll
Collection).
Unless
otherwise
stated,            Q3         Q3         +/- Q1-Q3 2017/ Q1-Q3 2018/         +/-
all values    2017/18    2018/19                      18          19
in EUR
million.
Revenues        126.1      144.8      +14.8%       386.9       406.9       +5.2%
EBIT              9.7       15.5      +59.3%        41.8        40.3       -3.6%
EBIT             7.7%      10.7%      +3.0%p       10.8%        9.9%      -0.9%p
margin


Kapsch TrafficCom increased its revenues in the ETC segment to EUR 144.8 million
in the third quarter of 2018/19, which is 14.8% greater than over the same
period in the previous year. The EBIT margin reached 10.7% and was three
percentage points above that of the previous year.

In the first three quarters of 2018/19, ETC revenues rose to EUR 406.9 million,
an increase of 5.2% over the same period in the previous year. The company
managed to more than offset a decline in revenue in the EMEA region (-5.9%) by a
rise in revenue in the Americas (+25.4%) and APAC (+46.6%) regions. ETC EBIT was
at EUR 40.3 million and thus EUR 3.6% lower than in the previous year. This
decline was mainly due to the weak results in the opening months of this fiscal
year.

Kapsch TrafficCom sold 10.58 million on-board units during the first nine months
(previous year: 9.73 million).


IMS (Intelligent
Mobility Solutions).
Unless
otherwise
stated,            Q3         Q3         +/- Q1-Q3 2017/ Q1-Q3 2018/         +/-
all values    2017/18    2018/19                      18          19
in EUR
million.
Revenues         41.0       52.4      +28.0%       120.0       126.1       +5.2%
EBIT              0.3        0.3       -9.3%        -6.5        -6.7       -3.4%
EBIT             0.8%       0.6%      -0.2%p       -5.4%       -5.3%      +0.1%p
margin


IMS revenues climbed to EUR 52.4 million in the third quarter of 2018/19, an
increase of 28.0% over the previous year. At EUR 0.3 million, EBIT was again
positive.

In the first three quarters of 2018/19, segment revenues rose by 5.2% to EUR
126.1 million. This was thanks to the Americas (+10.0%) and EMEA (+4.2%) sales
regions. It was only in the APAC region that revenues dropped from EUR 3.9
million to EUR 1.9 million. IMS EBIT was at EUR -6.7 million and thus at the
same level as in the previous year (EUR -6.5 million).


Zwtl.: Outlook.

Based on the results for the first three quarters of 2018/19, Management expects
revenues to increase in the current fiscal year. EBIT (excluding currency and
special effects) is expected to reach the previous year's level.

The departure of the United Kingdom from the EU (Brexit) in the spring of 2019
should have no significant impact on Kapsch TrafficCom's results, as the
company's local revenues there are in the single-digit million range.

Starting February 21, 2019 at 7:35 am (CET), the report on the first three
quarters of 2018/19 along with other materials concerning the results will be
available at http://kapsch.net/ktc/ir.



Further inquiry note:
Press contact: 
Alf Netek
Chief Marketing Officer & Press Officer
Kapsch Aktiengesellschaft
Am Europlatz 2
1120 Vienna
Austria 
T +43 50 811 1700
alf.netek@kapsch.net

Alexandra Vieh
Head of Marketing and PR, Global
Kapsch TrafficCom AG
Am Europlatz 2
1120 Vienna 
Austria 
T +43 50 811 1728
alexandra.vieh@kapsch.net

Investor contact:
Hans Lang
Investor Relations Officer
Kapsch TrafficCom AG
Am Europlatz 2
1120 Vienna
Austria 
T +43 50 811 1122
ir.kapschtraffic@kapsch.net

end of announcement                         euro adhoc
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Attachments with Announcement:
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http://resources.euroadhoc.com/documents/2235/5/10268159/1/190221Press_release_KTC_results_Q1-Q3_2018_19_EN.pdf


issuer:       Kapsch TrafficCom AG
              Am Europlatz  2
              A-1120 Wien
phone:        +43 1 50811 1122
FAX:          +43 1 50811 99 1122
mail:      ir.kapschtraffic@kapsch.net
WWW:       www.kapschtraffic.com
ISIN:         AT000KAPSCH9
indexes:      
stockmarkets: Wien
language:     English
 

Original content of: Kapsch TrafficCom AG, transmitted by news aktuell