DGAP-News: init innovation in traffic systems AG / Key word(s): Conference/Final Results init innovation in traffic systems AG: 2015 set to be another record year 26.03.2015 / 15:17 --------------------------------------------------------------------- - init has the EUR 110m mark in sight - Hardware and software business for buses and trams worldwide continues to perform well - Revenues and earnings growth in 2014 within the target range - Success with ticketing systems in the US and pilot project in Asia give the Managing Board reason to be confident about the future Karlsruhe/Frankfurt, 26 March 2015. Even after 12 years of consecutive growth, the success story of init innovation in traffic systems AG (ISIN DE 0005759807) has no end in sight. "2015 has started very well for us. Innovative technologies, growing demand for ticketing and integrated intermodal transport control systems in North America and Europe, and an initial pilot project in the Asian market present opportunities for sustainable growth," said init founder and CEO Dr. Gottfried Greschner today at the press/analyst conference in Frankfurt am Main. The world's leading provider of telematics, planning and electronic fare collection systems for buses and trams continues to post good results in its hardware and software business. In the fourth quarter of 2014 alone, with revenues of EUR 33.5m, the init group generated earnings before interest and taxes (EBIT) of EUR 8.6m. For the year as a whole, this constitutes a new revenue record of EUR 103m (previous year: EUR 100.1m), which was in the planned range. 72.1 per cent of total revenue was generated outside Germany (previous year: 75 per cent). North America was the strongest foreign market again with revenues of EUR 45.3m (previous year: EUR 41.7m). At EUR 18.7m in 2014, EBIT of the init group was 5.6 per cent above the previous year's value (EUR 17.7m). At EUR 12.1m, net profit after tax, however, remained constant because the distribution of revenues by region resulted in a higher overall tax rate. Earnings per share remained virtually constant at EUR 1.20 (previous year: EUR 1.21). The Managing Board and the Supervisory Board will therefore propose an unchanged dividend distribution of EUR 0.80 for each dividend-bearing share at the annual shareholders' meeting scheduled on 13 May 2015. Incoming orders for 2015 should increase by over 40 per cent Despite incoming orders of EUR 78.1m in the 2014 financial year exceeding the previous year's level (EUR 64.9m), the Managing Board's expectations were not met. "This was due to certain tenders not being decided in our favour and also to delays in the tender processes. We are currently involved in numerous tenders worldwide. We are confident that we will be able to win a large portion of these ongoing and pending tenders in the 2015 financial year. We see particular potential for this in the Asian region. For 2015, we expect incoming orders in the group of approximately EUR 112m," said the Managing Board in his outlook. With an order backlog that continues to be substantial, at approximately EUR 122m, a major part of the planned revenues for 2015 have been secured. init will secure another year of growth if the order backlog is completed on schedule and the few orders still needed can be won soon. For 2015, the Managing Board currently anticipates revenues of between EUR 104m and EUR 110m at almost unchanged margins. This translates into an operating profit ranging between EUR 17m and EUR 19m. Average long-term revenues over the next few years should increase by over 10 per cent again, with an EBIT margin of between 15 per cent and 20 per cent of revenues. The group status report of init innovation in traffic systems AG can be found online at www.initag.com as well as on the homepage of the German stock exchange. --------------------------------------------------------------------- 26.03.2015 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP 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: init innovation in traffic systems AG Käppelestraße 4-6 76131 Karlsruhe Germany Phone: +49 (0)721 6100 0 Fax: +49 (0)721 6100 399 E-mail: [email protected] Internet: www.initag.de ISIN: DE0005759807 WKN: 575980 Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart End of News DGAP News-Service --------------------------------------------------------------------- 338117 26.03.2015