EANS-Adhoc: init innovation in traffic systems AG / Sharp increase in first half-year result

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ad-hoc disclosure pursuant to section 15 of the WpHG transmitted by euro
adhoc with the aim of a Europe-wide distribution. The issuer is solely
responsible for the content of this announcement.
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6-month report

04.08.2009

Karlsruhe, August 4, 2009. In the first half of 2009, due to
increased sales profits of init innovation in traffic systems AG
(ISIN DE0005759807) rose at a proportionately faster rate. This
satisfactory business trend of the global leader in telematics and
electronic fare payment systems for buses and trams continued on from
the first quarter to generate sales between April and the end of June
2009 of EUR 14.2M, some 10% higher than in the comparable prior-year
period (EUR 12.8M). By the end of June, init achieved a cumulative
turnover of EUR 23.8M, up by around 12% on the previous year (EUR
21.3M), with some 74.3% (previous year: 76.5%) attributable to
foreign business.

Gross profit on sales increased as at the end of June partly because
of favorable exchange rates to EUR 7.9M and exceeded the prior-year
figure (EUR 5.5M) by around 44%. This resulted in earnings before
interest and taxes (EBIT) of EUR 2.7M (previous year: EUR 0.8M). The
consolidated net profit in the first half of 2009 amounted to EUR
2.0M (previous year: EUR 0.4M). Thus, earnings per share quadrupled
from EUR 0.05 in 2008 to EUR 0.21. On the whole, init managed to
better the targets set for sales and earnings in the first half of
2009.

Over the first six months, init acquired contracts worth some EUR 30M
in total (previous year: EUR 28M). The order volume of currently
around EUR 120M (previous year: EUR 104M) remains at record level,
double the amount of sales projected for 2009. In addition, the
Karlsruhe-based telematics specialist anticipates further new and
follow-up orders to materialize over the coming weeks and months.

In view of a positive business trend in the first half of the year,
the Managing Board of init expects to confirm its targets for fiscal
2009, projecting an EBIT of EUR 8.6M (previous year: 8.6M) with sales
of EUR 60M (previous year: EUR 56M).

Despite the overall difficult underlying economic conditions, the
growth prospects of init continue to be intact well beyond 2009 due
to the high order volume and ongoing tenders.

end of announcement euro adhoc
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ots Originaltext: init innovation in traffic systems AG
Im Internet recherchierbar: http://www.presseportal.de

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: Frankfurt / regulated dealing/prime standard
Berlin / free trade
Hamburg / free trade
Stuttgart / free trade
Düsseldorf / free trade
Hannover / free trade
München / free trade