EANS-Adhoc: Kapsch TrafficCom AG / Kapsch TrafficCom reports continued growth for the first half of fiscal year 2011/12

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6-month report

23.11.2011

- Revenues increased by 90 %, EBIT more than doubled - Significant
progress on existing projects and further market expansion - Record
volume of on-board units (OBUs) delivered - Decisions on potential
new projects in sight

H1: 1 April - 30 September FY 12-H1 +/- % FY 11-H1
Revenues (in million EUR) 278.8 90 % 146.5
EBIT (in million EUR) 40.1 120 % 18.2
Profit for the period (in million EUR) 22.4 53 % 14.6
Earnings per share (in EUR) 1.36 49 % 0.92
On-board units delivered (in million units) 5.72 281 % 1.50

Vienna, 23 November 2011 - Kapsch TrafficCom AG (ISIN AT000KAPSCH9),
listed in the Prime Market of the Vienna Stock Exchange, reported
continued growth in the first half of the fiscal year 2011/12.
Considerable progress was accomplished in the major ongoing projects,
which as well as making a decisive contribution to growth was also of
strategic importance as the risks associated with such projects,
especially in the area of system implementation, have been
significantly reduced.

The toll collection system in Poland went into operation on 3 July
2011 and the entire road-side infrastructure was finished at the end
of September. The tolling project in the South African province of
Gauteng was continued in the second quarter following definitive
clarification of the legal framework by the customer and reached the
pre-operation phase in mid-November.

In the U.S.A., a major success was achieved in July that will help
further market expansion and thereby the continued growth of the
Kapsch TrafficCom Group. Kapsch TrafficCom IVHS was selected by the
E-Z Pass® Group, a consortium of 24 toll authorities in 14 U.S.
states, as the supplier for the new ten-year technology and service
contract. This contract with the 24 agencies is currently in the
process of finalization.

At the end of July, Kapsch TrafficCom was also selected in Portugal
for the installation, technical operation and maintenance of an
electronic toll collection system. Implementation was commenced in
October and should be completed in stages by October 2013. The first
toll stations were taken into operation on 1 November 2011.

In October, Kapsch TrafficCom reached a basic agreement with Asfinag
Mautservice GmbH regarding the extension of the operations and
maintenance contract for the truck toll collection system in Austria.
The contract is due to expire at the end of 2013 but should now be
extended to the end of 2018. This early agreement of the first
operations and maintenance contract to expire in the history of
Kapsch TrafficCom will safeguard a considerable share of the revenue
of the segment Services, System Extensions, Components Sales (SEC) in
the long term.

Revenue and earnings

In the first half of the fiscal year 2011/12, the Kapsch TrafficCom
Group recorded revenues of EUR 278.8 million, up by 90.3 % from EUR
146.5 million in the same period of the previous fiscal year. Kapsch
TrafficCom achieved a disproportionate EBIT increase from EUR 18.2
million to EUR 40.1 million, bringing the EBIT margin to 14.4 %.

In the second quarter, the Kapsch TrafficCom Group recorded revenues
of EUR 144.1 million, up by 79.5 % compared with EUR 80.3 million in
the second quarter of the previous year. EBIT reached EUR 17.9
million, an increase of 33.4 % compared with the outstanding
reference value of EUR 13.4 million in the previous year.

This growth was particularly reflected in the segment Road Solution
Projects (RSP) with revenues of EUR 122.9 million after EUR 52.8
million in the same period of the previous fiscal year, an increase
of 132.7 %. The segment achieved an EBIT of EUR 7.5 million after EUR
0.8 million in the same period of the previous fiscal year. This
represents an EBIT margin of 6.1 %. This enormous improvement is
largely attributable to the toll collection system in Poland.

In the segment Services, System Extensions and Components Sales
(SEC), revenues increased by 69.8 % from EUR 90.3 million in the
first half of the previous fiscal year to EUR 153.2 million in the
same period of this year. The EBIT for the segment was EUR 32.4
million (FY11-H1: EUR 17.3 million), up by 88.0 % and corresponding
to an EBIT margin of 21.2 %. This improvement mainly resulted from
the IVHS subsidiaries in North America and on-board units (OBUs)
sales. The total volume of OBUs delivered in the first half of the
year rose to 5.7 million units, exceeding the total annual volume for
the previous year of 5.2 million units.

Financial position and cash flows

Total assets increased in the period under review as a consequence of
the ongoing project business while equity increased due to the
capital increase at the end of July. The equity ratio of the Kapsch
TrafficCom Group rose to 46.0 % as of 30 September 2011. Net working
capital increased significantly due to the ongoing project business
and was a major contributing factor to the decline in free cash flow
to EUR -45.2 million from EUR -21.2 million in the same period of the
previous fiscal year. With cash and cash equivalents nearly
unchanged, the increase in short-term financial liabilities in
connection with the project in Poland led to higher net debts of EUR
67.0 million.

Outlook

The second half of the fiscal year 2011/12 will be shaped by the
completion of existing projects - particularly in Poland and South
Africa - as well as by potential new projects. In Russia, Kapsch
TrafficCom is expecting a decision on a possible award in December
2011, while additional tenders are also in preparation or expected
soon in other countries.

The report on the first half of the fiscal year 2011/12 can be
downloaded from http://www.kapsch.net/en/ktc/investor_relations/downl
oads/files/reports/KTC_IR_Report_FY12-H1.pdf.

end of ad-hoc-announcement ==========================================
====================================== Kapsch TrafficCom is an
international supplier of superior intelligent transportation systems
(ITS) and primarily supplies electronic toll collection systems. With
its end-to-end solution portfolio, Kapsch TrafficCom covers the
entire value creation chain of its customers, from products and
systems to integration and operations, as a one-stop shop. Kapsch
TrafficCom also offers solutions for urban access management as well
as for traffic safety and security. Add-on applications to these
solutions, such as traffic data collection, complement the offering.
With references in 41 countries in all 5 continents, Kapsch
TrafficCom has positioned itself among the internationally recognized
suppliers of intelligent transportation systems. Kapsch TrafficCom AG
is headquartered in Vienna, Austria, and represented in 25 countries.

Disclaimer

The information contained in this announcement serves information
purposes and does not constitute an offer to sell nor a solicitation
to buy or subscribe for any securities of Kapsch TrafficCom AG.

This ad-hoc release and the information it contains are not for
publication in the United States of America (U.S.A.) and may not be
distributed to U.S. persons (as defined in Regulation S of the U.S.
Securities Act (“Securities Act”) of 1933, as amended) or to
publications with a general circulation in the United States. This
stock exchange announcement does not constitute an offer for the sale
of securities or solicitation of an offer to purchase securities in
the United States. The securities of Kapsch TrafficCom AG have not
been registered under the provisions of the Securities Act and may
not be offered, sold or delivered to U.S. persons without prior
registration under or exemption from the registration requirements.

This ad-hoc release is exclusively addressed to persons (i) outside
the United Kingdom, or (ii) who are investment professionals for the
purposes of article 19(5) U.K. Financial Services and Markets Act
2000 (Financial Promotion) Order 2005 (the “Order”), as amended, or
(iii) who are included under article 49(2)(a)–(d) of the Order (“high
net worth companies, unincorporated associations, etc.). All such
persons are hereinafter referred to as “Relevant Persons”. No person
who is not a Relevant Person may take action on the basis of this
press release or the information contained herein or rely thereon.
Investment or investment activities in connection with this press
release are only available to Relevant Persons, and investment
business will only be transacted with Relevant Persons.

Further inquiry note:
Marcus Handl
Investor Relations
Kapsch TrafficCom AG
Tel: +43 50 811 1120
Am Europlatz 2, A-1120 Vienna, Austria
E-mail: ir.kapschtraffic@kapsch.net
www.kapschtraffic.com

end of announcement euro adhoc
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issuer: Kapsch TrafficCom AG
Am Europlatz 2
A-1121 Wien
phone: +43 1 50811 1122
FAX: +43 1 50811 99 1122
mail: ir.kapschtraffic@kapsch.net
WWW: www.kapschtraffic.com
sector: Technology
ISIN: AT000KAPSCH9
indexes: Prime Market
stockmarkets: official market: Wien
language: English