21.08.2013
InTiCa Systems AG DE0005874846
DGAP-News: InTiCa Systems keeps staying on a winning track in H1 2013
DGAP-News: InTiCa Systems AG / Key word(s): Half Year Results
InTiCa Systems keeps staying on a winning track in H1 2013
21.08.2013 / 07:56
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Consolidated sales increased by 8.5% year-on-year to EUR 19.5 million
(2012: EUR 18.0 million)
EBITDA margin improved to 15.5% (2012: 13.7%)
EBIT more than doubled from EUR 0.3 million to EUR 0.7 million
Passau, August 21, 2013 - InTiCa Systems AG, quoted in the Prime Standard
of the Frankfurt Stock Exchange (ISIN DE0005874846, Ticker IS7), today
publishes the interim report for H1 2013. In spite of the economic
slowdown, the company grew both sales and earnings considerably, living up
to the successful level reported for 2011.
'Although prospects for the important Automotive Technology and Industrial
Technology segments were affected by the general deterioration in the
economic situation in Germany, we grew both sales and earnings considerably
compared with the first six months of last year. Our progressive shift from
a components supplier to a solutions provider, which we are systematically
driving forward within all segments, is increasingly paying off. Recording
an EBITDA margin of 15.5 percent while generating revenues of EUR 19.5
million within the Reporting Period, we have met our targets for the first
half year', concluded Walter Brückl, CEO of InTiCa Systems AG for the first
six months of 2013.
Sales and earnings position
The Group grew sales by around 8.5 percent year-on-year to EUR 19.5 million
in the first six months of 2013. While the Automotive Technology and
Communication Technology segments grew sales by 17 percent and 25 percent
respectively, in the Industrial Electronics segment sales slipped 10
percent as a result of the negative trend in the solar industry. As the
material and personnel cost ratios were almost constant, the increase in
sales compared with the first six months of 2012 resulted in a considerable
rise in earnings. EBITDA increased from EUR 2.5 million to EUR 3.0 million
and the EBITDA margin improved from 13.7 percent to 15.5 percent
accordingly.
InTiCa Systems AG also posted a strong improvement in operating profit in
the reporting period: Group EBIT increased to EUR 0.7 million (H1 2012: EUR
0.3 million) and the EBIT margin rose from 1.7 percent to 3.6 percent. It
should be noted that the Industrial Electronics segment returned to profit.
This segment's EBIT was EUR 0.3 million in the first six months of 2013,
compared with minus EUR 28 thousand in the first half of 2012. The
Automotive Technology segment continued to develop positively, reporting
EBIT of EUR 0.7 million in the first six months of 2013 (H1 2012: EUR 0.6
million). Only the Communication Technology posted slightly negative EBIT
of minus EUR 0.3 million in the reporting period, as in the first six
months of 2012.
The financial result was minus EUR 0.2 million in the reporting period (H1
2012: minus EUR 0.3 million). Taking into account tax expense of EUR 0.1
million (H1 2012: tax income of EUR 32 thousand), the interim result for
the Group in the first six months of 2013 was EUR 0.4 million (H1 2012: EUR
0.1 million). Earnings per share were EUR 0.08 (H1 2012: EUR 0.02).
The equity ratio declined slightly year-on-year from 56 percent to 55
percent, mainly because current liabilities to banks rose from EUR 1.2
million to EUR 2.5 million in connection with financing for the increase in
sales. The operating cash flow was slightly positive at EUR 81 thousand.
However, overall there was a cash outflow of EUR 2.0 million in the
reporting period (H1 2012: inflow of EUR 1.2 million) due to higher
investment in intangible assets and property, plant and equipment as well
as, the repayment instalments on loans and leasing rates.
Outlook
Overall, in terms of costs and products the company is well-positioned.
Customer-specific products and solutions, increasing vertical integration
and high expertise in system solutions constitute a substantial competitive
advantage. In addition, all three segments have opportunities to gain
access to further markets. This is reflected in the increase in orders on
hand to EUR 36 million as of June 30, 2013, around 20 percent higher than
last year.
For 2013 as a whole, the Board of Directors therefore currently still
assumes that, providing overall economic growth is at least moderate, there
will be a perceptible rise in sales and earnings. Overall, the Board of
Directors expects Group sales in 2013 to be close to EUR 40 million, with
an EBITDA margin of around 15% and an EBIT margin of around 3%.
The full interim report for the first six months of 2013 is available for
download on the Internet site of InTiCa Systems under www.intica-systems.de
in the Investor Relations section.
InTiCa Systems AG
The Board of Directors
CONTACT Walter Brückl | CEO
PHONE +49 (0) 851 - 966 92 - 0
FAX +49 (0) 851 - 966 92 - 15
MAIL [email protected]
About InTiCa Systems:
InTiCa Systems is a European leader in the development, manufacture and
commercialization of inductive components, passive analogue switching
technology and mechatronic assemblies. It operates in the Automotive
Technology, Communication Technology and Industrial Technology segments and
has ca. 430 employees at its sites in Passau (Germany) and Prachatice
(Czech Republic).
The Automotive Technology segment focuses on innovative products that raise
the comfort and safety of cars, improve the performance of electric and
hybrid vehicles and reduce carbon emissions. InTiCa Systems' Communication
Technology segment is the German market leader in splitters for the
transmission of broadband signals, while the Industrial Electronics segment
develops and manufactures mechatronic assemblies for the solar industry and
other industrial applications.
Forward-looking statements and predictions
This press release contains statements and forecasts referring to the
future development of InTiCa Systems AG which are based on current
assumptions and estimates by the management that are made using information
currently available to them. If the underlying assumptions do not
materialize, the actual figures may differ substantially from such
estimates. Future developments and results are in fact dependent on a large
number of factors; they contain different risks and imponderables and are
based on assumptions that may not be accurate. We neither intend nor assume
any obligation to update forward-looking statements on an ongoing basis as
these are based exclusively on the circumstances prevailing on the date of
publication.
End of Corporate News
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21.08.2013 Dissemination of a Corporate News, transmitted by DGAP - a
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Language: English
Company: InTiCa Systems AG
Spitalhofstraße 94
94032 Passau
Germany
Phone: 0851 / 96692 0
Fax: 0851 / 96692 15
E-mail: [email protected]
Internet: www.intica-systems.de
ISIN: DE0005874846
WKN: 587484
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Hamburg, München, Stuttgart
End of News DGAP News-Service
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