23.05.2013
InTiCa Systems AG DE0005874846
DGAP-News: InTiCa Systems AG: InTiCa Systems reports clearly positive earnings in Q1 2013
DGAP-News: InTiCa Systems AG / Key word(s): Quarter Results
InTiCa Systems AG: InTiCa Systems reports clearly positive earnings in
Q1 2013
23.05.2013 / 07:45
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Consolidated sales increased 11% year-on-year to EUR 9.9 million (2012: 8.9
million)
EBITDA of EUR 1.4 million (2012: EUR 1.3 million)
EBIT was around the year-back level at EUR 0.3 million
Positive net profit of EUR 0.14 million (2012: EUR 0.06 million)
Passau, May 23, 2013 - InTiCa Systems AG, quoted in the Prime Standard of
the Frankfurt Stock Exchange (ISIN DE0005874846, Ticker IS7), today
publishes the interim report for Q1 2013.
'We are pleased to report that our business performance improved
considerably in the first quarter, even though conditions remained adverse.
Overall, we grew sales appreciably year-on-year. The growth in the
Automotive Technology segment continued and the Communication Technology
segment also posted higher sales. Stringent cost discipline and continuous
process optimization resulted in a good operating result (EBITDA) in the
reporting period, with a margin of over 14% and positive earnings after
taxes', concluded Walter Brückl, CEO of InTiCa Systems AG for the first
three months of 2013.
Sales and earnings position
Group sales increased roughly 11% to EUR 9.9 million in the first three
months of 2013, up from EUR 8.9 million in the first quarter of 2102, with
sales increasing 10% to EUR 5.1 million in the Automotive Technology
segment (Q1 2012: EUR 4.6 million) and 52% to EUR 1.9 million in the
Communication Technology segment (Q1 2012: EUR 1.2 million). In view of the
continued difficult situation in the European solar sector, sales declined
further in the Industrial Electronics segment, but the year-on-year decline
was only 3% to EUR 2.9 million (Q1 2012: EUR 3.0 million).
The ratio of material costs to total output remained low at 61.6%, and the
personnel cost ratio was reduced from 17% to 16% despite an increase in the
number of employees. EBITDA rose 7% year-on-year to EUR 1.4 million in Q1
2013 (Q1 2012: EUR 1.3 million). The EBITDA margin was 14.3%.
Group EBIT was EUR 0.3 million in the reporting period (Q1 2012: EUR 0.3
million). The EBIT margin therefore slipped slightly from 2.9% in Q1 2012
to 2.8% in Q1 2013. In the Automotive Technology segment, EBIT was
unchanged from the previous year at EUR 0.3 million (Q1 2012: EUR 0.3
million). In the Industrial Electronics segment, it improved to EUR 0.2
million (Q1 2012: EUR 0.02 million). Only the Communication Technology
segment again reported negative EBIT of minus EUR 0.2 million (Q1 2012:
minus EUR 0.1 million).
The financial result was minus EUR 0.1 million in the reporting period (Q1
2012: minus EUR 0.1 million). Taking into account tax expense of EUR 26
thousand (Q1 2012: EUR 62 thousand), the Group's net income in the first
three months of 2013 was EUR 0.14 million (Q1 2012: EUR 0.06 million) and
earnings per share were EUR 0.03 (Q1 2012: EUR 0.01).
The equity ratio decreased to around 55% in the reporting period (December
31, 2012: 58%) as a consequence of higher current liabilities. The
operating cash flow was still negative at minus EUR 0.6 million in the
first quarter of 2013 due to the increase in inventories and trade accounts
receivable. Moreover, around EUR 0.6 million was spent on selective
investments in expansion and modernization of production capacities in the
first quarter.
Outlook
Orders on hand were around EUR 34 million as of March 31, 2013, once again
well above the year-back level (March 31, 2012: EUR 27.6 million), so
capacity utilization in the subsequent quarters is expected to be better
than in 2012.
For 2013 as a whole, the Board of Directors currently assumes that,
providing overall economic growth is a least moderate, there will be a
perceptible rise in sales and earnings. Overall, the Board of Directors
expects Group sales in 2013 to be around EUR 40 million, with an EBITDA
margin of around 15% and an EBIT margin of around 3%.
The full interim report for the first three 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. 435 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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23.05.2013 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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