init innovation in traffic systems AG
euro adhoc: init innovation in traffic systems AG
Financial Figures/Balance
Sheet
init achieves targeted 2008 record figures in sales and earnings -
growth continues in 2009
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Preliminary Figures 2008
02.03.2009
Karlsruhe, March 2, 2009. init innovation in traffic systems AG fully succeeded in reaching its sales and earnings targets for 2008. According to the preliminary figures now available, revenues rose by almost 20 percent to write a new record figure of around 56 mio. EUR (2007: 46.8 mio. EUR). Earnings before interest and taxes (EBIT) also improved by 19 percent to 8.6 mio. EUR (2007: 7.2 mio. EUR) - the best figure in company history to date. The annual surplus increased to 5.9 mio. EUR (2007: 5.3 mio. EUR), which corresponds to earnings per share of 0.60 EUR (2007: 0.54 EUR).
At around 22 mio. EUR in the fourth quarter of 2008 (2007: 12.3 mio. EUR), the global leader of telematics and electronic fare collection systems for public transport recorded the highest quarterly sales to date, despite aggravating global economic conditions. This is due in particular to major projects and the installation of vehicle equipment in Dubai and Europe being on schedule, as well as numerous follow-up contracts from customers in Germany.
With an EBIT of 6.3 mio. EUR, the last quarter of 2008 proved the most successful for init to date. This was also evident in the operating cash flow, which saw a rise to 7.1 mio. EUR throughout the year (2007: -2.6 mio. EUR). Taking into account the funds used for investments, the free cash flow remaining for 2008 thus totaled 4.8 mio. EUR (2007: -5.6 mio. EUR).
In terms of the rate of new orders and order volume, init also reported strong growth dynamics. At 70.8 mio. EUR, the order intake in 2008 exceeded projected sales quite considerably. As of the end of 2008, the orders on hand stood at 112.8 mio. EUR (2007: 102.8 mio. EUR) and will last well into 2010.
In the first few weeks of 2009, init managed to win further bids, with the result that more than 80 percent of planned revenues already seem secure for the current fiscal year. For 2009, the Managing Board projects sales of 60 mio. EUR and an EBIT of 8.6 mio. EUR, the latter kept constant on grounds of the global financial crisis.
The full annual report for 2008 along with detailed prospects for 2009 will be presented at an analyst and press conference in Karlsruhe on March 27, 2009.
end of announcement euro adhoc --------------------------------------------------------------------------------
Further inquiry note:
Alexandra Weiß
Investor Relations
Telefon: +49(0)721 6100-102
E-Mail: aweiss@initag.de
Branche: Semiconductors & active components
ISIN: DE0005759807
WKN: 575980
Index: CDAX, Prime All Share, Technologie All Share
Börsen: Börse Frankfurt / regulated dealing/prime standard
Börse Berlin / free trade
Börse Hamburg / free trade
Börse Stuttgart / free trade
Börse Düsseldorf / free trade
Börse Hannover / free trade
Börse München / free trade
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