EANS-News: init innovation in traffic systems AG / Success story at init continues

- Order volume currently at around EUR 150m
- Further decisions on
major projects due and set to spur growth in 2012
- Karlsruhe-based
telematics system specialist increased sales by around 25 per cent to
EUR 80.9m in 2010
- EBIT up by around 28 per cent to EUR 15.1m,
profit for first time above EUR 10m

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Financial Figures/Balance Sheet

Subtitle: - Order volume currently at around EUR 150m - Further
decisions on major projects due and set to spur growth in 2012 -
Karlsruhe-based telematics system specialist increased sales by
around 25 per cent to EUR 80.9m in 2010 - EBIT up by around 28 per
cent to EUR 15.1m, profit for first time above EUR 10m

Karlsruhe (euro adhoc) - Karlsruhe/Frankfurt, 30 March 2011. init
innovation in traffic systems AG (ISIN DE0005759807) is in a good
position to continue growing. Orders on hand at the Karlsruhe-based
specialist for telematic and electronic fare collection systems
currently amount to around EUR 150m, as init founder and Chairman of
the Managing Board, Dr Gottfried Greschner, announced at today´s
press conference on the company´s financial statements in Frankfurt.
"We expect further decisions on major projects within the first half
of this year, so that sales and earnings at init should grow
moderately in 2011 and particularly spur growth in 2012," Dr
Greschner said.

Integrated telematics and fare collection systems as growth drivers

The demand for telematics, planning and fare collection systems for
buses and trams, such as developed, produced and sold by init, should
rise considerably in the long term, Dr Greschner said. Although the
risks for the global economy had increased again over the past few
weeks, the market for init´s systems was continuing to grow
irrespectively. "In many countries, billions are made available to
set up and develop local public transport systems. This is added by
the fact that many systems in Europe, and particularly in Germany,
urgently need to be modernised. This opens up additional business
opportunities for init," Dr Greschner emphasised.

A further growth driver for init is the growing interest of transport
companies in integrated telematics and fare collection systems. With
its electronic ticket printer with on-board computer functionality,
init is very well prepared here to combine both aspects.

In the preceding 2010 financial year, init once again benefitted from
its position as global leader in the supply of integrated systems and
was able once more to exceed its revenues and earnings targets. At
EUR 80.9m (2009: EUR 65.0m), revenues at init achieved record levels
for the sixth consecutive year. Growth was most significant in North
America (up from EUR 17.6m to EUR 28.0m) and in its domestic market
in Germany (from EUR 17.7m to EUR 30.5m). On the whole, init as a
group generated foreign revenues in the amount of EUR 50.4m in 2010
(2009: EUR 47.2m), which corresponds to 62.3 per cent (2009: 72.7 per
cent) of total revenues.

Equity return over 21 per cent

Despite an unfavourable environment, currency turbulences and rising
raw material and energy costs, init was able in 2010 to increase its
profitability at a high level. At EUR 15.1m, earnings before interest
and taxes (EBIT) topped the last record in 2009 (EUR 11.8m) by 28 per
cent. The same applies to the group result, which improved from EUR
8.3m in the previous year to EUR 10.0m. This corresponds to earnings
per share of EUR 1.00 (2009: EUR 0.84). As a result, the return on
equity stood at 21.5 per cent (2009: 21.3 per cent), the return on
total investment reached 11.9 per cent (2009: 11.6 per cent).

Shareholders at init can therefore look forward to a record dividend
this year. The Managing Board and the Supervisory Board intend to
propose to the shareholders´ meeting held on 24 May 2011 that the
dividend be doubled to EUR 0.60 (for 2009: EUR 0.30). This amount
comprises an ordinary dividend of EUR 0.45 and a bonus dividend of
EUR 0.15 per share to mark the 10th anniversary of init on the stock
exchange in 2011.

Japan disaster without effect on init growth

Even although growth in the global market should wane in the current
financial year in light of the recent events in Japan and North
Africa, the Managing Board of init remains optimistic for the further
development of the company. "We are not dependent on supplies from
Japan and have just as few projects there as we have in North Africa.
It will not therefore stunt our growth, just as we were not
significantly affected by the recent global economic crisis," Dr
Greschner emphasised.

Rather, the economic stimulus packages initiated to date by the
governments should have an increasingly positive effect on init, as
tenders for infrastructure projects put out as a result are now due
for implementation. In March, init already generated a major
contract, with hopes of further contracts in the second quarter of
fiscal 2011, each ranging in the double-digit millions. "We believe
that this will spur our growth in 2012," Dr Greschner said on the
further prospects of the company.

The annual financial statements of init innovation in traffic systems
AG are available on the Internet at www.initag.de and on the website
of Deutsche Börse AG.

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
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München / free trade