16.05.2018
init innovation in traffic systems SE DE0005759807
DGAP-News: init innovation in traffic systems SE: Shareholders' Meeting confirms growth strategy
DGAP-News: init innovation in traffic systems SE / Key word(s):
AGM/EGM/AGM/EGM
init innovation in traffic systems SE: Shareholders' Meeting confirms growth
strategy
16.05.2018 / 17:12
The issuer is solely responsible for the content of this announcement.
---------------------------------------------------------------------------
init benefits from digitisation among transport companies
- At EUR 29.5m, the init group's revenue in the first quarter of 2018 was 7
percent above the previous year's figure (EUR 27.5m).
- Growth trend accelerating - compared to 2017 significantly better result
expected for 2018
- Dividend remains stable at EUR 0.22
As a provider of solutions, init innovation in traffic systems SE (ISIN DE
0005759807) benefits from megatrends such as digitisation, electromobility
and networking among transport providers. As a result, the company, which is
the leading global provider of integrated planning, dispatching, telematics
and ticketing systems for buses and trains expects its growth trend to
accelerate in 2018 and subsequent years, and the Managing Board underscored
this at today's Shareholders' Meeting in Karlsruhe.
According to the figures for the first three months of the 2018 financial
year, the init group is well on its way to reach the growth targets set for
the year as a whole. In the first quarter of 2018, it generated revenues of
EUR 29.5m (Q1 2017: EUR 27.5m), around 7 percent higher than the previous
year's figure. Earnings before interest, taxes, depreciation and
amortisation (EBITDA) were slightly higher than the previous year at EUR
1.5m (Q1 2017: EUR 1.4m) and were also within the target range. Also the
EBIT, at EUR 0.4 m corresponds to the previous year's level. Cash flow from
operating activities improved significantly compared to the previous year to
EUR 1.0m (Q1 2017: EUR -3.2m), which was due to high incoming payments from
receivables, among other things.
"The ratios that were achieved correspond with the Managing Board's
expectations. For that reason, we maintain our existing forecast regarding
revenues (EUR 135m to EUR 145m) and EBIT (between EUR 10m and EUR 12m),"
emphasised CEO Dr Gottfried Greschner in his report to the shareholders in
the Concert House of the Convention Centre in Karlsruhe.
New record revenues in sight
The Managing Board and shareholder representatives were pleased with the
2017 financial year given record revenues of more than EUR 130m, which
represented an increase of 20 percent or EUR 22m over the previous year. For
that reason, the proposal of the Managing Board and Supervisory Board for
the appropriation of net profit was accepted by a large majority of 99.85
percent. Accordingly, shareholders will once again receive a dividend of EUR
0.22 per share. Around EUR 2.2m of the total net profit for financial year
2017 of EUR 21.1m will therefore be paid out.
Shareholders' satisfaction with the growth strategy, which is focused on
organic growth and targeted acquisitions, was reflected in the votes on the
approval of the discharge of the Managing Board and Supervisory Board. These
were voted with 94.71 and 97.81 percent.
Strong emphasis on growth fields
In the first months of the new financial year, init has already placed a
strong emphasis on growth fields. A decisive factor here is the networking
of control and ticketing systems. Electronic ticketing via apps, credit card
systems and smart phones with best-price billing and posting of all payment
transactions, including those between multiple transport companies, is
currently growing at an extraordinary rate.
In order to better realise the existing potential, the company must have the
corresponding specialist staff, which is why init has become even stronger
in these areas. For example, the acquisition of Finnish company Mattersoft
Oy not only served to expand the product spectrum, but also provided access
to qualified developer capacities at the university location Tampere. At the
end of March, init established a subsidiary in Dublin, Ireland. The aim of
that new company, "Init Innovations in Transportation Limited", is to
provide development services and through them access to developer capacities
in Ireland.
Contact:
Person making the notification:
Simone Fritz
Investor Relations
[email protected]
---------------------------------------------------------------------------
16.05.2018 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
---------------------------------------------------------------------------
Language: English
Company: init innovation in traffic systems SE
Käppelestraße 4-10
76131 Karlsruhe
Germany
Phone: +49 (0)721 6100 0
Fax: +49 (0)721 6100 399
E-mail: [email protected]
Internet: www.initse.com
ISIN: DE0005759807
WKN: 575980
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich,
Stuttgart, Tradegate Exchange
End of News DGAP News Service
---------------------------------------------------------------------------
686787 16.05.2018
|
Weitere Ad-hoc und Unternehmensrelevante Mitteilungen zu
init innovation in traffic systems SE ISIN: DE0005759807 können Sie bei EQS abrufen
Logistik/Verkehr , 575980 , IXX , XETR:IXX