EANS-Adhoc: init innovation in traffic systems AG / New orders reach a record EUR 90 million in the third 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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quarterly report

31.10.2012

Karlsruhe, 31 October 2012. By winning two major projects, init
innovation in traffic systems AG achieved a record amount in
incoming orders of over EUR 90 million in the third quarter of
2012. With this, the orders on hand as of the end of September
increased by nearly 50 percent compared with the previous year to
around EUR 185 million (previous year: EUR 124 million).

During the first nine months, the init group recorded a rise in sales
of around 17 percent to EUR 64.4 million due to the strong growth in
the first half year (Q1-Q3 2011: EUR 55.2 million). 76.5 percent of
this amount (Q1-Q3 2011: 63.5 percent) were attributed to
international business, mostly in North America. Due to technical
project delays in individual orders, the generated revenues of EUR
22.4 million fell slightly below the previous year's level (Q3
2011: EUR 23.7 million).

This caused the earnings before interest and taxes (EBIT) of EUR
10.7 million after the first nine months to remain slightly below
last year's result (EUR 11.4 million). However, it must be taken
into account that a positive one-off special effect for 2011
occurred with the reversal of the provisions for risk for Dubai.
Furthermore, increased internationalisation of the sales division,
the development of new markets, the increasing number of complex
international tenders and the establishment of new subsidiaries
resulted in additional costs during the reporting period, while the
impact on earnings of these measures will only unfold in the
medium term.

A higher tax rate pushed the net profit of EUR 7.2 million as of
the end of September below the value of the previous year (Q1-Q3
2011: EUR 8.3 million). Earnings per share amount to EUR 0.74
(Q1-Q3 2011: EUR 0.83). Due to the ongoing major projects in
the Middle East, however, tax-free income will still be recorded in
the fourth quarter.

Unless any unexpected events occur and provided the project
delays can be caught up, we should achieve our growth target for
2012 with revenues of around EUR 95 million and an operating result
(EBIT) of surely EUR 19 million in 2012. Experience has shown that
the fourth quarter usually generates the highest revenue for
init.

As the development of orders shows, the market for traffic
telematics is currently characterised by a large number of new
international tenders for major projects. The bulk of init's
business is in comparatively long-term projects, which is why we
still see good growth opportunities for our company in the long
run. For the future we are also expecting positive impulses from
Asian countries. We have established a subsidiary in Singapore in
order to be present locally and to opportunely forge the necessary
customer contacts. This subsidiary will commence operations
shortly and participate in upcoming tenders.

The detailed interim report of init innovation in traffic systems
AG for the period ending on 30 September 2012 will be published on
9 November 2012.

Further inquiry note:
Simone Fritz
Investor Relations
Tel.: +49 (0)721/6100-115
mailto: ir@initag.de

end of announcement euro adhoc
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issuer: init innovation in traffic systems AG
Käppelestraße 6
D-76131 Karlsruhe
phone: +49(0)721 6100-0
FAX: +49(0)721 6100-399
mail: info@initag.de
WWW: http://www.initag.de
sector: Semiconductors & active components
ISIN: DE0005759807
indexes: CDAX, Prime All Share, Technology All Share
stockmarkets: free trade: Hannover, Berlin, München, Hamburg, Düsseldorf,
Stuttgart, regulated dealing/prime standard: Frankfurt
language: English