22.05.2014
InTiCa Systems AG DE0005874846
DGAP-News: InTiCa Systems AG: Further growth in the Automotive Technology segment and a clear rise in profitability in Q1 2014
DGAP-News: InTiCa Systems AG / Key word(s): Quarter Results
InTiCa Systems AG: Further growth in the Automotive Technology segment
and a clear rise in profitability in Q1 2014
22.05.2014 / 07:30
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Group sales at EUR 10.0 million (2013: EUR 9.9 million)
Sales in the Automotive Technology segment raised by 23.5%
EBIT margin reached 3.5% (2013: 2.8%)
Net profit improved to EUR 0.24 million (2013: EUR 0.14 million)
Outlook for FY 2014 confirmed
Passau, May 22, 2014 - InTiCa Systems AG, quoted in the Prime Standard of
the Frankfurt Stock Exchange (ISIN DE0005874846, Ticker IS7), today
publishes the interim report for the first three months of 2014. While
group sales of EUR 10.0 million were only slightly above the year back
level, profit margins improved significantly in the reporting period. In
total, a positive net profit of EUR 0.2 million could be achieved.
"The first three months of 2014 brought a continuation of the trend that
emerged in 2013. While the Automotive Technology segment continued its
dynamic growth and increased sales by over 23%, the Industrial Electronics
and Communication Technology segments registered a further drop in sales
compared with the first quarter of 2013", concluded Walter Brückl, CEO of
InTiCa Systems AG for Q1 2014. "Due to the good order situation, we assume
a continuation of the growth in the Automotive Technology segment and that
we will achieve our envisaged targets for 2014."
Sales and earnings position
Group sales totaled EUR 10.0 million in the first three months of 2014,
about 1.1% higher than in the previous year (2013: EUR 9.9 million). The
slight overall growth was driven by the sustained growth momentum in the
Automotive Technology segment, which grew sales 23.5% to EUR 6.2 million
(2013: EUR 5.1 million). By contrast, sales dropped 40.6% to EUR 1.1
million (2013: EUR 1.9 million) in the Communication Technology segment and
10.9% to EUR 2.6 million (2013: EUR 2.9 million) in the Industrial
Electronics segment.
There was a clear year-on-year improvement in the ratio of material costs
to total output from 61.6% to 58.6%. By contrast, the personnel cost ratio
increased from 15.8% to 18.1% as a result of an increase in the headcount.
In the first three months of 2014, EBITDA remained virtually unchanged at
EUR 1.4 million (2013: EUR 1.4 million). The EBITDA margin declined
slightly from 14.3% to 14.1%.
Group EBIT was EUR 0.4 million in the reporting period (2013: EUR 0.3
million). The EBIT margin therefore improved from 2.8% in Q1 2013 to 3.5%
in Q1 2014. In the Automotive Technology segment, EBIT increased to EUR 0.4
million in the first three months of 2014 (2013: EUR 0.3 million). In the
Industrial Electronics segment, EBIT slipped slightly to EUR 0.1 million
(2013: EUR 0.2 million). Only the Communication Technology segment again
reported negative EBIT of minus EUR 0.2 million (2013: minus EUR 0.2
million).
The financial result was minus EUR 0.1 million in the reporting period
(2013: minus EUR 0.1 million). Tax expense was EUR 3 thousand (2013: EUR 26
thousand). Interim net income for the first three months of 2014 was EUR
0.24 million (2013: EUR 0.14 million) and earnings per share were EUR 0.06
(2013: EUR 0.03).
The equity ratio declined to 54% in the reporting period (December 31,
2013: 57%). The operating cash flow was minus EUR 1.4 million owing to the
increase in trade receivables in the first quarter. Moreover, around EUR
0.9 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 0.1 million (December
31, 2013: EUR 1.3 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 2014.
Assuming at least moderate overall growth, from the present viewpoint the
Board of Directors therefore expects to raise sales and earnings further in
2014. Overall, the Board of Directors expects Group sales in 2014 to be
around EUR 43 million, with an EBIT margin of around 3.5%.
The full interim report for the first three months of 2014 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. 470 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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22.05.2014 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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