EANS-Adhoc: Kapsch TrafficCom AG / Kapsch strengthens the position despite a
mediocre 2013/14 fiscal year
Geschrieben am 11-06-2014 |
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Financial Figures/Balance Sheet/Company Information
11.06.2014
Kapsch strengthens the position despite a mediocre 2013/14 fiscal
year
· Market growth absent in the toll collection area - revenue
comparable to previous year · Toll systems in South Africa and
Belarus successfully put into operation · Significant improvement in
operating results - EBIT increased by 23 % · Profit for the period
down by 83 % - no dividend planned · Position for the future
strengthened by stable revenue base and adapted strategy ___________
___________________________________________________________________
|1 April-31 March | 2012/13| +/-|
2013/14| |__________________|___________________|___________________|
___________________| |Revenues (in | 488.9|
0 %| 487.0| |millionEUR) | |
| | |__________________|___________________|_______
____________|___________________|
|EBIT (in million | 16.5| +23 %| 20.3|
|EUR) | | | |
|__________________|___________________|___________________|___________________|
|Profit for the | 16.8| -83 %| 2.9|
|period (in million| | | |
|EUR)______________|___________________|___________________|___________________|
Vienna, 11 June, 2014 - Kapsch TrafficCom AG (ISIN AT000KAPSCH9), listed on the
Vienna Stock Exchange in the prime market segment, reports a mediocre 2013/14
fiscal year in which the forecast growth in the area of electronic toll
collection did not materialize. The reporting period was characterized by
postponements and cancellations of expected projects; in addition, Kapsch
TrafficCom suffered a negative one-time effect in connection with the project in
South Africa. Nevertheless, the group successfully continued its strategic
development and finds itself in a more solid position than one year
ago and well prepared for the future.
One key milestone was the commissioning of the electronic toll
collection system in the South African province of Gauteng, which was
delayed for more than one- and-a-half years and has up to now been
the main cause of the mediocre company results. In Belarus, Kapsch
TrafficCom put the first sections of the national electronic toll
collection system according to plan into operation, a system that
will be continuously expanded in the coming years. Additional system
starts as well as new orders were achieved by Kapsch TrafficCom in
the U.S.A., in Australia, Chile, Russia, Kazakhstan and Europe.
The result was a significant further expansion in the enduring
revenue mainstays of the global on-board unit business and ongoing
system operation. Furthermore, Kapsch TrafficCom was able to expand
on its competence beyond the area of toll collection systems in the
market for intelligent transportation systems (ITS), and strengthen
its position with the acquisition of the major ITS provider Transdyn
in the U.S.A.
Subtitle: Revenue and earnings The revenue in the 2013/14 fiscal year
was EUR 487.0 million, which is in line with the previous year's
level of EUR 488.9 million. As in the previous year, major
installation projects - other than the Belorussian project - were
absent, and the most recently commissioned systems in South Africa
and Belarus are not yet reflected to their full extent in the revenue
and earnings for the reporting period.
The investments that were made for the predicted market growth were
downsized as far as possible in the reporting period, while at the
same time existing structures were adapted for new operation projects
as well as resources and know-how were maintained for future large
projects. In the third quarter, Kapsch TrafficCom was once again
forced to record a negative one-time effect in connection with the
project in South Africa in the amount of EUR 8.5 million. The
operating result nevertheless improved significantly in the 2013/14
fiscal year due to progress in and expansions of installation
projects. At EUR 20.3 million, the EBIT is 22.9 % above the previous
year's value of EUR 16.5 million. The EBIT margin of 4.2 % reflects
this improvement, even if it remains far below the medium-term goal
of a two-digit margin.
The financial result recorded an enormous decline, due primarily to
largely unrealized currency losses - above all in the South Africa
rand. The profit before tax decreased as a result to EUR 5.5 million,
and the profit for the period fell from EUR 16.8 million in the
previous year to EUR 2.9 million in the reporting period.
The executive board will propose to the annual shareholders? meeting
on 1 September 2014 that no dividend be paid out for the 2013/14
fiscal year in order to avoid limiting options for further growth.
Subtitle: Outlook Kapsch TrafficCom has invested in the future during
recent years and prepared its internal structures for the predicted
market growth. The company is also ready for the changes to arise
from increasing ITS convergence. With the adapted strategy, the
executive board considers the company's position for the future to be
stronger than ever. Details concerning the developments on the market
and within the Kapsch TrafficCom Group will be published in the
2013/14 annual report.
Concerted work will continue on existing projects in the 2014/15
fiscal year. The major project in Belarus will be expanded further,
and Kapsch TrafficCom also expects expansions to the operation
project in Poland. Now that the toll system in South Africa has been
in operation since December 2013, the company plans to work with its
customer to further improve the revenue from the project. The result
of the invitation to tender for the nationwide toll collection system
in Russia is expected soon.
Kapsch TrafficCom also expects that some of the postponed projects as
well as others will materialize in the current fiscal year. In
parallel to this, the company continues to actively contact
potentially interested parties for toll systems, an approach that has
already proved successful in Belarus.
Subtitle: Notification An overview of the fiscal year 2013/14 (key
aspects and figures) can be found at http://www.kapsch.net/ktc/invest
or_relations/presentations_information/download/
Overview/KTC_IR_Overview_FY13-14?lang=en-US. The entire annual
financial statements and the annual report for 2013/14 will be
published on 25 June 2014.
Press Contact:
Alf Netek
Chief Marketing Officer
Kapsch AG
Am Europlatz 2, 1120
Vienna, Austria
Phone: +43 50 811 1700
E-mail:
alf.netek@kapsch.net
Investor Contact:
Marcus Handl
Investor Relations Officer
Kapsch TrafficCom AG
Am Europlatz 2, 1120 Vienna, Austria
Phone: +43 50 811 1120
E-mail: ir.kapschtraffic@kapsch.net
Further inquiry note:
Mag. Marcus Handl
Investor Relations Officer
Kapsch TrafficCom AG
Am Europlatz 2
1120 Wien, Österreich
Tel.: +43 50.811 1120
E-Mail: {ir.kapschtraffic@kapsch.net}
[HYPERLINK: mailto:ir.kapschtraffic@kapsch.net]
Press Contact:
Alf Netek
Chief Marketing Officer
Kapsch AG
Am Europlatz 2, 1120
Vienna, Austria
Phone: +43 50 811 1700
E-mail:
alf.netek@kapsch.net
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
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- EANS-Adhoc: Österreichische Staatsdruckerei Holding AG / --------------------------------------------------------------------------------
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