EANS-Adhoc: init innovation in traffic systems AG / Order boom and earnings increase in first quarter

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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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3-month report/Preliminary Figures Q1-2011

04.05.2011

Karlsruhe, 4 May 2011: The first quarter of the 2011 financial year
for init innovation in traffic systems AG ended with new contracts
worth over EUR 33m (previous year: EUR 11m) and a further increase in
earnings. Based on the preliminary figures now available, growth at
the global operator and provider of telematics, planning and
electronic fare collection systems continued strong. The order volume
as at the end of March totalled around EUR 147m to exceed the record
level achieved in the previous year (EUR 132m) by 11 per cent.

Whereas sales of EUR 14.0m in the first quarter remained marginally
below the prior-year figure (EUR 14.9m) in line with the scheduled
progress of ongoing major projects, earnings once again rose on the
excellent baseline in the previous year. At EUR 5.5m at the end of
March, gross profit on sales in absolute figures exceeded the
prior-year result (EUR 4.5m). One of the reasons for this was the
current development in Dubai, which resulted in significantly lower
provisions for risks due to substantial incoming payments.

Earnings before interest and taxes (EBIT) in the first quarter
amounted to EUR 2.6m (previous year: EUR 2.5m), which results in
earnings for the period of EUR 1.5m (previous year: EUR 1.3m). This
corresponds to earnings per share of EUR 0.15 (previous year: EUR
0.14).

Through ongoing projects, init generated an operating cash flow of
EUR 8.9m by the end of March (previous year: EUR 3.8m). As a result,
liquid funds including short-term securities increased to EUR 27.2m
in the reporting period (previous year: EUR 12.5m). This figure is
expected to rise further throughout the year because of payments due
from a number of major projects.

While the global economic risks have increased on the whole for 2011,
init continues to anticipate moderate growth in sales and a more than
satisfactory earnings margin. Based on the existing volume of orders,
the Managing Board projects sales in the amount of EUR 82m, with
earnings from operations in excess of EUR 15m.

The full report on the first quarter will be published on 12 May
2011.

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
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