EANS-News: init innovation in traffic systems AG / init affirms positive outlook for 2013: For the first time revenues will exceed the EUR 100 million mark

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annual report

Karlsruhe/Frankfurt, 28 March 2013 (euro adhoc) - Record order
backlog of EUR 177 million sustainably holds on to good growth
prospects Incoming orders should once again be over EUR 100 million
in the current year New growth potential in the rail sector and in
Asia

In 2013 init innovation in traffic systems AG (ISIN DE 0005759807) is
preparing to exceed the EUR 100 million mark in revenues for the
first time after nine consecutive growth years. "With a record order
backlog of EUR 177 million we have already secured a majority of
revenues for 2013 and 2014. Therefore, in our planning for 2013 we
are currently assuming an increase in revenues to EUR 105 million
with a operating performance (EBIT) of EUR 18 million," init founder
and chairman of the Managing Board Dr. Gottfried Greschner affirmed
the positive outlook of the company today when presenting the annual
report for 2012. The system house based in Karlsruhe also expects
incoming orders of more than EUR 105 million again for the year 2013,
which is generally expected to be a very difficult economic year.
With integrated solutions for telematic, planning and electronic
payments systems, today init is a sought-after partner for
transportation companies on four continents for the development of
their intelligent infrastructures. "We can expand our range of
services technologically and regionally on this foundation and in so
doing, appropriately participate in the expected growth of our
industry," said Greschner. The number of passengers using public
transport systems will double worldwide by 2025. "This too makes our
market very, very exciting and opens up sustainable growth potential
for init." By 2018 Asia-Pacific could become init's largest market
The Managing Board of init sees sustainable growth potential in the
future above all in the Asian-Pacific region. For this reason, INIT
Asia-Pacific Pte. Ltd. took up its work in Singapore in November 2012
and is to participate in large upcoming tenders in this region.
"Judging by the response to our initial ac-tivities, our chances are
good in this region for making more revenues in five years' time than
in our currently largest market North America. But we will also be
seeing larger tenders in Europe and in the Middle East in the short
term," Greschner emphasized. Furthermore, init is preparing its entry
into the rail sector. An innovative, sensor-based and effective
passenger counting system was developed especially for this new
business field. It is characterized by high accurateness, thus
creating new options for rail operators to optimise their vehicle use
and service offers. Consistent dividend for financial year 2012 Due
to its intact growth perspective and the continued excellent
liquidity position, the Managing Board also intends to propose to the
Annual General Meeting of init innovation in traffic systems AG on 16
May 2013 the same high dividend of EUR 0.80 per no-par-value share,
even though the earnings per share in 2012 - above all due to a
higher tax rate - fell to EUR 1.11 (2011: EUR 1.51). "We intend to
continue to pay our shareholders a proper dividend and in future
years we will strive to increase it again as earnings rise," said
Greschner. In the report about the financial year 2012 just ended,
Greschner expressed his satisfaction overall despite the drop to EUR
10.9 million in the consolidated net profit (2011: EUR 15.1 million).
"We have reached our goals for revenues, but what particularly counts
is that we significantly increased our order volume to EUR 177
million (2011: EUR 117 million). That means that we are clearly on a
course of growth," said the Chairman of the Managing Board. In
comparing with the previous year it has also to be taken into account
that in 2011 the EBIT was affected by two special factors, namely the
reversal of the risk provision for Dubai and the appreciation, as
prescribed by IFRS, of the company shares held by init resulting from
the complete takeover of id systeme GmbH. These special effects made
up a total of around EUR 3 million in 2011. Taken this into account,
init did not perform worse operationally in 2012 than in the previous
year. As already reported ad hoc on 6 March, the EBIT came to EUR
17.3 million (previous year: EUR 20.4 million). This also reflects
investment costs for new markets such as Asia and France, production
start-up costs of the newly established US subsidiary SQM (Superior
Quality Manufacturing, LLC) in the amount of EUR 0.4 million, an
unscheduled loss by the subsidiary CarMedialab in the amount of EUR
0.5 million, and a value adjustment for accounts receivable in Dubai
amounting to EUR 0.6 million. As already reported, the group revenues
of init in the financial year ended increased by 9.6 percent to EUR
97.3 million (2011: EUR 88.7 million). At the same time, the group's
incoming orders amounted to a record figure of EUR 152.2 million
(2011: EUR 81.4 million). The annual report of init innovation in
traffic systems AG is now available on the Internet at www.initag.de
as well as on the website of the Deutsche Börse.

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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company: 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