DGAP-News: InTiCa Systems AG / Key word(s): Final Results InTiCa Systems publishes the annual report for FY 2013 - Automotive Technology ensures profitable growth 24.04.2014 / 07:35 --------------------------------------------------------------------- Preliminary figures confirmed - Group sales at EUR 37.8 million (2012: EUR 36.3 million), EBITDA margin increased to 15.1% (2012: 12.4%) und EBIT margin to 2.7% (2012: 0.1%) Net profit amounted to EUR 0.5 million (2012: minus EUR 0.4 million) Operating cash flow increased to EUR 3.8 million (2012: EUR 3.5 million) Orders on hand indicate further growth potential Sales increased to EUR 9.95 million in the first quarter of 2014 (Q1 2013: EUR 9.85 million) while EBITDA is expected to be around EUR 1.4 million and EBT to exceed EUR 0.2 million Positive outlook for FY 2014 - Sales of around EUR 43 million at an EBIT margin of approx. 3.5% expected Passau, April 24, 2014 - InTiCa Systems AG, quoted in the Prime Standard of the Frankfurt Stock Exchange (ISIN DE0005874846, Ticker IS7), today publishes the annual report for FY 2013. Supported by the Automotive Technology segment, which continued the dynamic growth of previous years, the European leader in the development, manufacture and commercialization of inductive components, passive analogue switching technology and mechatronic assemblies was able to post a further clear increase in sales and earnings, confirming the previously announced preliminary figures. Sales were 4.1% higher than in 2012 at EUR 37.8 million, EBITDA grew 27% to EUR 5.7 million (EBITDA margin 15.1%) and EBIT increased to EUR 1.0 million (margin 2.7%). The bottom line was net income of EUR 0.5 million compared with a slight net loss in 2012. "Our performance in 2013 shows that IniTiCa Systems AG is making good progress in positioning itself as a development partner and solution provider for its customers. In the automotive industry in particular, there is rising demand for our technologies and solutions. InTiCa Sytems will therefore continue its strategic focus on developing and commercializing innovative products to extend the product portfolio and reduce dependence on specific markets. At the same time, we want to increase our value added to secure our technical knowledge, generate better margins, reduce dependence on suppliers and continue to expand our systems competence", concluded Walter Brückl, CEO of InTiCa Systems AG for FY 2013. Sales and earnings position Group sales advanced 4.1% year-on-year to EUR 37.8 million in 2013 (2012: EUR 36.3 million). The positive overall development was due to the continuation of the very dynamic growth trend in the Automotive Technology segment, where sales increased 23.9% to EUR 22.5 million (2012: EUR 18.1 million). This segment therefore increased its share of total sales to 59.4% (2012: 49.9%). In the Industrial Electronics segment sales fell to EUR 10.0 million (2012: EUR 12.3 million), while in the Communication Technology segment sales slipped to EUR 5.4 million (2012: EUR 5.9 million). Along with growing sales, InTiCa managed to reduce its material cost ratio and personnel expense ratio, thus considerably improving earnings. EBITDA rose 26.6 percent year-on-year from EUR 4.5 million to EUR 5.7 million while EBIT multiplied from EUR 23 thousand to EUR 1.0 million. This had a corresponding impact on profit margins: the EBITDA margin improved from 12.4 percent to 15.1 percent and the EBIT margin increased from 0.1 percent to 2.7 percent. This performance was driven principally by the Automotive Technology segment, which reported EBIT of EUR 1.6 million in the reporting period (2012: EUR 1.0 million) and therefore increased its margin to 7.0 percent (2012: 5.6 percent). Industrial Electronics also posted a clear improvement, returning to profit with EBIT of EUR 0.3 million (2012: minus EUR 0.1 million), and a margin of 2.9 percent (2012: minus 0.7 percent). Only the Communication Technology segment posted negative EBIT of minus EUR 0.9 million in fiscal 2013 (2012: minus 0.9 million). The financial result was minus EUR 0.5 million in the reporting period and thus virtually unchanged year-on-year. Taking into account tax expense of EUR 64 thousand (2012: tax income of EUR 72 thousand), the result for the Group in fiscal 2013 was EUR 0.5 million (2012: minus EUR 0.4 million). Earnings per share were EUR 0.11 (2012: minus EUR 0.09). The equity ratio remained virtually unchanged at 57 percent at the end of the reporting period, compared with 58 percent as of December 31, 2012. Thanks to the considerable improvement in net income, the net cash flow from operating activities increased to EUR 3.8 million in 2013 (2012: EUR 3.5 million). This positive operating cash flow enabled InTiCa to continue to invest, especially in expanding production capacity in the Automotive Technology segment. However, overall there was a cash outflow of EUR 0.6 million in the reporting period (2012: inflow of EUR 1.5 million) due to higher investment in intangible assets and property, plant and equipment, as well as repayment instalments on loans and leasing rates. In the first quarter of 2014 sales further increased to EUR 9.95 million (Q1 2013: EUR 9.85 million). Again, the rise was mainly due to the positive trend in the Automotive Technology while sales from the other two segments were below previous year's level. The Board of Directors expects Group EBITDA to be around EUR 1.4 million (EBITDA margin: 14%) and EBT to exceed EUR 0.2 million. Outlook Despite ongoing cyclical uncertainty, the Board of Directors of InTiCa Systems AG expects the positive trend to continue over the year as a whole. Automotive Technology will remain the most important segment for InTiCa's business in 2014. Industrial Electronics and Communications Technology are expected to stabilize. In addition, all three segments have new products that should give them opportunities to gain access to further markets. For example, many product innovations for electric and hybrid cars will become more important in the future and should also make a perceptible contribution to the sales and earnings trends in the Automotive Technology segment. In the Communication Technology segment, a variety of newly developed innovative products based on coaxial cable technology, used, for example, in DSL broadband networks open up new opportunities and products developed by the company to reduce the power consumption of industrial equipment and domestic appliances should further drive sales potential in Industrial Electronics. This is also reflected in the increase in orders on hand in the Group: Orders totalled EUR 37.8 million on March 31, 2014, compared to EUR 34 million on March 31, 2013. Assuming at least moderate overall growth, from the present viewpoint the Board of Directors therefore expects to raise sales and earnings further in 2014. Overall, the Board of Directors expects Group sales in 2014 to be around EUR 43 million, with an EBIT margin of approximately 3.5%. The full annual report with the audited statements 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. 465 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 --------------------------------------------------------------------- 24.04.2014 Dissemination of a Corporate News, transmitted by DGAP - a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- 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 --------------------------------------------------------------------- 264289 24.04.2014