DGAP-News: InTiCa Systems AG / Key word(s): 9-month figures InTiCa Systems AG: Increase of revenue and earnings in the first nine months of 2014 20.11.2014 / 07:37 --------------------------------------------------------------------- Automotive Technology segment grew sales 24.2% Group sales improved 7% to EUR 30.7 million (9M 2013: EUR 28.6 million) Group earnings increased to EUR 0.6 million (9M 2013: EUR 0.4 million) Outlook for fiscal 2014 slightly adjusted Passau, November 20, 2014 - InTiCa Systems AG, which is listed in the Prime Standard on the Frankfurt Stock Exchange (ISIN DE0005874846, Ticker IS7), grew sales by more than 7% year-on-year to EUR 30.7 million in the first nine months of this year, due to continued strong growth in the Automotive Technology segment. At the same time, net income increased to EUR 0.6 million. "Overall, the nine-month figures reflect the sound progress of InTiCa Systems. The development and commercialization of innovative new products is increasingly placing growth on a broader basis and reducing dependence on individual markets. The sustained positive development in the reporting period shows that the strategic repositioning of the company from a component supplier to a solution provider in recent months and years is entering the home strait", comments Walter Brückl, Chairman of the Management Board of InTiCa Systems AG, the business trend of the first nine months of 2014. Sales and earnings trend InTiCa Systems AG grew consolidated sales by 7.2% year-on-year in the first nine months of 2014 to EUR 30.7 million (9M 2013: EUR 28.6 million). The increase in sales revenues was attributable to the continued dynamic trend in the Automotive Technology segment, which lifted sales 24.2% to EUR 20.2 million (9M 2013: EUR 16.3 million). By contrast, in the other segments sales were lower than in the prior-year period. In the Communication Technology segment revenues dropped 34.5% to EUR 3.0 million (9M 2013: EUR 4.6 million) and in the Industrial Electronics segment they fell 3.7% to EUR 7.4 million (9M 2013: EUR 7.7 million). However, initially there was a clear upward trend in the Industrial Electronics segment. The third quarter was very successful with segment sales up 48% year-on-year at EUR 2.8 million (Q3 2013: EUR 1.9 million). This was achieved entirely with established products as the first serial sales resulting from the development and commercialization of actuator coils for industrial transport facilities, gas combustion systems and exhaust gas regulation systems are not expected until the second half of 2015. Material expenses amounted to 58.2% of total output, which was below the prior-year level (9M 2013: 59.4%). By contrast, the personnel expense ratio rose from 16.9% to 18.1% as a result of an increase in the headcount. Other operating expenses increased from EUR 3.1 million in the prior-year period to EUR 3.6 million and include expenses of EUR 0.3 million (9M 2013: EUR 0.4 million) for agency staff at the facility in Prachatice. EBITDA was EUR 4.3 million in the first nine months of 2014 (9M 2013: EUR 4.3 million) so the EBITDA margin dropped from 15.1% to 14.0%. By contrast, the Group's EBIT rose from EUR 0.8 million to EUR 1.0 million in the reporting period, and the EBIT margin therefore rose from 2.7% to 3.2%. EBIT improved to EUR 1.3 million in the first nine months of 2014 in the Automotive Technology segment (9M 2013: EUR 1.1 million) and to EUR 0.4 million in the Industrial Electronics segment (9M 2013: EUR 0.2 million). By contrast, in the Communications Technology segment it remained negative at minus EUR 0.7 million (9M 2013: minus EUR 0.5 million). The financial result was minus EUR 0.3 million in the first nine months of 2014 (9M 2013: minus EUR 0.4 million). Tax expense was EUR 83 thousand in the reporting period (9M 2013: EUR 66 thousand). The profit for the first nine months of 2014 therefore improved considerably to EUR 0.6 million (9M 2013: EUR 0.4 million) and earnings per share were EUR 0.14 (9M 2013: EUR 0.08). The operating cash flow was EUR 0.5 million in the reporting period (9M 2013: EUR 1.2 million). However, the increase in receivables indicates that there will be a higher cash inflow in the following quarters. In addition, higher capital expenditure for property, plant and equipment, mainly for the Automotive Technology segment, and repayments instalments on loans resulted in an overall cash outflow of around EUR 4.8 million in the reporting period (9M 2013: outflow of EUR 2.0 million). The equity ratio declined to 53% in the reporting period (December 31, 2013: 57%). Cash and cash equivalents (less overdrafts) were minus EUR 4.4 million as of September 30, 2014 (September 30, 2013: minus EUR 1.0 million). InTiCa Systems has assured credit facilities which can be drawn at any time totalling EUR 7.1 million. Outlook The Automotive Technology segment remains InTiCa Systems' main driving force in 2014. The company has successfully achieved its goal of being perceived as a development partner. In addition, in recent months a number of orders have been received for serial production of new products such as stators for hybrid cars and actuators for fuel injection systems. In the Industrial Electronics and Communication Technology segments there are also opportunities to enter additional markets thanks to new products. Together with increased vertical integration and systems solution competence, offering customer-specific solutions is a key competitive advantage for InTiCa Systems. The Board of Directors therefore believes that in terms of costs and products InTiCa Systems AG is well positioned. Orders on hand amounted to around EUR 42 million on September 30, 2014, which was well above the prior-year level of around EUR 38 million. The Board of Directors currently assumes that in 2014 there will be a further rise in sales and earnings compared with 2013. The business trend in the first nine months of this year was in line with the Board of Directors' expectations. Given the signs of economic slowdown and some additional cost factors, especially higher supply and transport expenses and consulting fees in connection with management changes, the Board of Directors expects that consolidated sales will be over EUR 41 million and the EBIT margin will be around 3%. The full interim report for the first nine months of 2014 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 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. --------------------------------------------------------------------- 20.11.2014 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: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Hamburg, München, Stuttgart End of News DGAP News-Service --------------------------------------------------------------------- 298154 20.11.2014