23.11.2016
InTiCa Systems AG DE0005874846
DGAP-News: InTiCa Systems well on track to achieve its goals for 2016
DGAP-News: InTiCa Systems AG / Key word(s): Quarter Results
InTiCa Systems well on track to achieve its goals for 2016
23.11.2016 / 07:30
The issuer is solely responsible for the content of this announcement.
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Sales amounted to EUR 33.7 million (9M 2015: EUR 33.5 million)
EBIT margin improved to 2.7% (9M 2015: 2.4%)
Net profit amounted to EUR 0.5 million (9M 2015: EUR 0.4 million)
Operating cash flow increased to EUR 3.8 million (9M 2015: EUR 1.5 million)
Work on the new facility in Mexico is proceeding on schedule
Passau, November 23, 2016 - InTiCa Systems AG (Prime Standard, ISIN
DE0005874846, ticker IS7) today published the interim report for the first
nine months of 2016. Based on year-end business supported by a good order
situation, InTiCa Systems is still well on track to achieve its goals for
2016. To be highlighted is the success in implementing the strategic plans:
"By optimizing production workflows at the facility in the Czech Republic,
opening our new technology and training centre in Passau, Germany, and
setting up a new production site in Mexico we have taken important steps
for the future", comments Dr. Gregor Wasle, Spokesman of the Board of
Directors of InTiCa Systems AG, on the development in the first nine months
of 2016.
Sales and earnings position
In the reporting period, InTiCa Systems AG increased sales slightly to EUR
33.7 million, up from EUR 33.5 million in the prior-year period. Sales were
EUR 27.5 million in the Automotive Technology segment (9M 2015: EUR 27.3
million) and EUR 6.2 million in the Industrial Electronics segment (9M
2015: EUR 6.2 million).
While the ratio of material costs to total output dropped significantly
year-on-year to 54.4% (9M 2015: 58.0%), the personnel expense ratio
increased from 19.8% to 22.7% as a result of an increase in the number of
employees.
The company lifted EBITDA slightly, by 1.4% to EUR 4.2 million in the first
nine months of 2016 (9M 2015: EUR 4.1 million). The EBITDA margin therefore
improved from 12.4% to 12.5%. Group EBIT increased 14.2% from EUR 0.8
million to EUR 0.9 million, which equates to a year-on-year increase in the
EBIT margin from 2.4% to 2.7%. At segment level, the Automotive Technology
segment reported EBIT of EUR 0.95 million in the first nine months of 2016
(9M 2015: EUR 1.6 million) and EBIT in the Industrial Electronics segment
was minus EUR 0.03 million (9M 2015: minus EUR 0.8 million).
The financial result was minus EUR 0.3 million, as in the prior-year
period, and tax expense was EUR 56 thousand (9M 2015: EUR 76 thousand). Net
income thus was EUR 0.5 million in the first nine months of 2016 (9M 2015:
EUR 0.4 million). Earnings per share were EUR 0.13 (9M 2015: EUR 0.09).
The operating cash flow improved considerably to EUR 3.8 million in the
first nine months of 2016 (9M 2015: EUR 1.5 million). The total cash flow
in the reporting period was also clearly positive at EUR 2.1 million as
capital expenditure was lower than in the prior-year period and the company
took out a long-term loan (9M 2015: cash outflow of EUR 8.1 million). The
equity ratio remained constant at 41% in the reporting period (December 31,
2015: 41%).
Outlook and international expansion
Work on the new facility in Mexico is proceeding on schedule. Over the past
months, the first production machines have been installed and started up.
An initial customer audit has also been successfully completed. "A complete
production line should be in place by the end of the year, with validation
by the customer scheduled for the first quarter of 2017. An experienced
team of senior executives and production and quality control managers has
been hired, so we are well-positioned for the next steps", reports Günther
Kneidinger, Member of the Board of Directors, regarding the progress of the
international expansion.
The development of sales and earnings in the first nine months of 2016 was
in line with the Board of Directors' expectations. Orders on hand totalled
around EUR 40 million on September 30, 2016, above the prior-year level of
EUR 38 million. Around EUR 34 million of orders are attributable to the
Automotive Technology segment (September 30, 2015: EUR 34 million). At
present, the Board of Directors still assumes that, given a stable economic
environment, Group sales will rise by around 10% to nearly EUR 47 million
in 2016 and the EBIT margin will improve to around 2%.
The complete interim report for the first nine months of 2016 is available
for download from the Investor Relations section of InTiCa Systems' website
at www.intica-systems.com.
InTiCa Systems AG
The Board of Directors
CONTACT Dr. Gregor Wasle | CEO
TEL +49 (0) 851 - 966 92 - 0
FAX +49 (0) 851 - 966 92 - 15
EMAIL [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 550
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.
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23.11.2016 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.
Archive at www.dgap.de
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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: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Hamburg, Munich, Stuttgart,
Tradegate Exchange
End of News DGAP News Service
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