DGAP-News: InTiCa Systems AG / Key word(s): Quarter Results InTiCa Systems publishes report on Q1 2015 - clear sales growth and return to profitability 21.05.2015 / 07:45 --------------------------------------------------------------------- Sales grew by 10.1% to EUR 11.0 million (Q1 2014: EUR 10.0 million) EBIT margin at 3.1% higher than expected (Q1 2014: 3.5%) Net profit amounted to EUR 0.16 million (Q1 2014: EUR 0.24 million) Positive operating cash flow Outlook for FY 2015 confirmed Passau, May 21, 2015 - InTiCa Systems AG (Prime Standard, ISIN DE0005874846, ticker IS7) today published the interim report for the first three months of fiscal 2015. Sales performance in the first quarter of 2015 was clearly above the previous year with revenues of around EUR 11.0 million (Q1 2014: EUR 10.0 million). The positive development of the Automotive Technology segment, which grew by 46.5%, more than compensated for the decline of the newly structured Industrial Electronics segment. EBITDA was EUR 1.4 million and thus remained at the previous year's level. EBIT was EUR 0.34 million in the reporting period (Q1 2014: EUR 0.35 million), corresponding to an EBIT margin of 3.1% (Q1 2014: 3.5%). Overall, the Group achieved a positive interim result of EUR 0.2 million. "The three-months results confirm us in the measures initiated last year: Having invested significant amounts in new machinery, the construction of a new production building, and also commenced construction of a new technology centre, we took major steps for the further development whose success will become increasingly visible. Capacity is being aligned to higher volumes, production efficiency is improving and both segments have stepped up the development of innovative new products. In this way, we are providing sustained support for the development of the company and progressively reducing our dependence on specific sectors and products. We continued this strategy in the first quarter of 2015 with further investment in InTiCa's future. Accordingly, we expect sales to rise further and earnings to improve, thus achieving our goals as planned", concluded Dr. Gregor Wasle, spokesman of the board of directors of InTiCa Systems AG for the reporting period. Sales and earnings position Group sales totalled EUR 11.0 million in the first three months of 2015, about 10.1% higher than in the previous year (Q1 2014: EUR 10.0 million). The sales growth was driven by the sustained growth momentum in the Automotive Technology segment, which grew sales 46.5% to EUR 9.1 million (Q1 2014: EUR 6.2 million). By contrast, sales in the newly structured Industrial Electronics segment, which has included the former Communication Technology segment since the beginning of 2015, dropped 51.0% to EUR 1.8 million (Q1 2014: EUR 3.7 million). In spite of the increase in sales, the ratio of material costs to total output was further reduced from 58.6% to 58.4%. By contrast, the personnel cost ratio increased from 18.1% to 19.6% as a result of an increase in the headcount. In the first three months of 2015, EBITDA remained at virtually unchanged at EUR 1.4 million (Q1 2014: EUR 1.4 million). Given the sales rise, the EBITDA margin declined slightly from 14.1% to 12.8%. Group EBIT was EUR 0.34 million in the reporting period (Q1 2014: EUR 0.35 million). The EBIT margin therefore decreased from 3.5% in Q1 2014 to 3.1% in Q1 2015. In the Automotive Technology segment, EBIT increased to EUR 0.6 million in the first three months of 2015 (Q1 2014: EUR 0.5 million). The combined Industrial Electronics segment reported negative EBIT of minus EUR 0.3 million (Q1 2014: minus EUR 0.1 million). The financial result was minus EUR 0.1 million in the reporting period (Q1 2014: minus EUR 0.1 million). Tax expense was EUR 80 thousand (Q1 2014: EUR 3 thousand). Interim net income for the first three months of 2015 therefore was EUR 0.16 million (Q1 2014: EUR 0.24 million) and earnings per share were EUR 0.04 (Q1 2014: EUR 0.06). While the equity ratio declined to 42% in the reporting period (December 31, 2014: 46%), InTiCa Systems recorded a positive operating cash flow of EUR 52 thousand (Q1 2014: cash outflow of EUR -1.4 million). Moreover, around EUR 3.0 million was spent on selective investments to expand production capacity in the Automotive Technology segment in the first quarter. At the same time, cash and cash equivalents dropped to EUR 0.2 million (December 31, 2014: EUR 1.1 million). Outlook The business trend in the first three months was in line with the Board of Directors' expectations so it is retaining its outlook for fiscal 2015. The Automotive Technology segment will remain InTiCa Systems' main driving force in 2015, supported by capital expenditures to raise capacity that have already been undertaken or are currently planned, and the segment will make a perceptible contribution to securing sales growth. By contrast, in view of the insolvency of one of its major customers and tougher competition in the transmission technology market, the Industrial Electronics segment is highly unlikely to match last year's performance. In the medium term, however, new products should enable this segment to make a contribution to sales again. Assuming at least moderate overall growth, from the present viewpoint the Board of Directors therefore expects sales to rise further and earnings to improve in 2015 as compared to FY 2014. Specifically, the Board of Directors expects Group sales in 2015 to be around EUR 44 million, with an EBIT margin of around 2.5%. The complete interim report for the first three months of 2015 is available for download from the Investor Relations section of InTiCa Systems' website at www.intica-systems.de. InTiCa Systems AG The Board of Directors CONTACT Dr. Gregor Wasle | 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 and Industrial Technology segments and has more than 500 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' 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. --------------------------------------------------------------------- 21.05.2015 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: 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: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Hamburg, Munich, Stuttgart End of News DGAP News-Service --------------------------------------------------------------------- 360005 21.05.2015