EANS-Adhoc: init innovation in traffic systems AG / init posts annual net profit of EUR 10m and revenues of EUR 80.9m in 2010

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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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Preliminary Figures 2010

02.03.2011

Karlsruhe, 2 March 2011. init innovation in traffic systems AG closed
the 2010 financial year with revenues of EUR 80.9m and a consolidated
net profit of EUR 10m. This corresponds to earnings per share of EUR
1.00 (2009: EUR 0.84).

Based on the preliminary figures now available, the company´s
projections (annual sales of EUR 78m), which had already been raised
as recently as in October, were again slightly exceeded. The
internationally supplier for telematics, planning and electronic fare
collection systems for local public transport continued to grow
strongly even throughout the last quarter of 2010. At EUR 23.5m,
quarterly revenues were up by 13 per cent on the previous year (2009:
EUR 20.7m).

Over the year, init was able to improve revenues by as much as around
24 per cent (2009: EUR 65.0), making it the sixth consecutive record
year of the company. Growth proved particularly dynamic in North
America and Germany, init´s domestic market, where ongoing major
projects, but also substantial follow-up contracts boosted revenues.

The company´s profitability in the preceding financial year continued
to improve despite rising raw material and energy costs. Its
operating income before interest and taxes (EBIT) rose by
approximately 28 per cent to EUR 15.1m (2009: EUR 11.8m). Due to
higher taxes on earnings, annual net profit improved by a good 20 per
cent to EUR 10m (2009: EUR 8.3m).

The new record result led to a notable increase in the operating cash
flow. Cash from operations gained in 2010 totalled EUR 14.6m (2009:
EUR 5.6m), with a resulting free cash flow (after investments) of EUR
13.2m (2009: EUR 4.1m).

Based on these results, init has laid the foundations for further
success, as evidenced in the company´s current volume of orders; at
EUR 130.6m at the end of 2010 (2009: EUR 132.2m), it remains at a
very high level. In addition, we expect decisions on current tenders
to be made in the first half of 2011.

The full annual report of init for 2010 will be published on 30 March
2011 at the analyst and press conference on the company´s financial
statements in Frankfurt.

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 Wirthmann
init innovation in traffic systems AG
Investor Relations
Telefon: +49(0)721 6100-102
E-Mail: awirthmann@initag.de

Branche: Semiconductors & active components
ISIN: DE0005759807
WKN: 575980
Index: CDAX, Prime All Share, Technology 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