InTiCa Systems AG / Key word(s): Final Results 25.03.2015 12:12 Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Group sales increased to EUR 40.5 million (2013: EUR 37.8 million) Automotive Technology segment grew sales 24.5% to EUR 28.0 million (2013: EUR 22.5 million) Sales declined in Communication Technology (-30.5%) and Industrial Electronics (-11.9%) Due to one-off special effects, EBIT was negative at minus EUR 2.5 million (2013: EUR 1.0 million) Further sales growth and positive net income expected in 2015 Passau, March 25, 2015 - InTiCa Systems AG (Prime Standard, ISIN DE0005874846, ticker IS7) today announced provisional, unaudited figures for fiscal 2014. Although the company grew sales to over EUR 40 million in 2014, it made a net loss as a result of the extraordinary effects associated with the insolvency of a major customer in the solar sector, which was announced in December 2014. Based on the current order situation, the Board of Directors expects to report positive net income for fiscal 2015, despite the loss of this major customer. That said, the initial months of 2015 will still be impacted to a significant extent by measures to build up the necessary production capacity, coupled with the corresponding one-off measures and lasting organizational changes in the production environment. Group sales grew 7.1% year-on-year to EUR 40.5 million in 2014 (2013: EUR 37.8 million) as the Automotive Technology segment continued its very positive development. In this segment, sales rose 24.5% to EUR 28.0 million (2013: EUR 22.5 million), increasing its share of total sales to 69.1% (2013: 59.4%). Sales dropped 11.9% to EUR 8.8 million (2013: EUR 10.0 million) in the Industrial Electronics segment and 30.5% to EUR 3.8 million (2013: EUR 5.4 million) in the Communication Technology segment. The gross profit declined slightly to EUR 14.8 million in the reporting period (2013: EUR 15.0 million) and the gross profit margin therefore dropped to 36.7% (2013: 39.7%). EBITDA (earnings before interest, taxes, depreciation and amortization) declined considerably year-on-year to EUR 2.4 million (2013: EUR 5.7 million). The EBITDA margin was 5.9% (2013: 15.1%). EBIT (earnings before interest and taxes) was minus EUR 2.5 million (2013: EUR 1.0 million) and pre-tax income was minus EUR 2.9 million (2013: EUR 0.5 million). The negative earnings were mainly due to the impact of the Sputnik insolvency, which amounted to around EUR 2.5 million. This was compounded by extraordinary costs, partly as a result of the change in the Board of Directors and higher transport costs in the Automotive Technology segment. The operating cash flow was EUR 3.1 million (2013: EUR 3.8 million). The cash flow for investing activities comprised an outflow of EUR 6.2 million (2013: outflow of EUR 3.7 million). In 2014, InTiCa invested around EUR 4.9 million in new machinery to raise production capacity. Thanks to a loan of EUR 3.0 million, the cash flow from financing activities comprised an inflow of EUR 1.4 million (2013: outflow of EUR 0.7 million). Overall, there was a cash outflow of EUR 1.6 million in the reporting period (2013: outflow of EUR 0.6 million). In addition to investing in new production machinery and the start of construction of a new production building, the company hired new staff in 2014. As a result, the headcount increased to 507 as of December 31, 2014 (December 31, 2013: 447). Cash and cash equivalents amounted to EUR 1.1 million as of December 31, 2014 (December 31, 2013: EUR 1.3 million). The equity ratio was 46% at year end (2013: 57%). The order situation is very positive at present so sales are expected to grow in 2015 and the following years. Growth will be supported by investment projects, which will contribute to an improvement in earnings during the year. The detailed outlook for the present financial year and the future development of the segments will be announced when the annual report for 2014 is published on April 23, 2015. The annual report containing the audited consolidated financial statements for 2014 will be 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 Dr. Gregor Wasle | 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 more than 500 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. 25.03.2015 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: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Hamburg, Munich, Stuttgart End of Announcement DGAP News-Service ---------------------------------------------------------------------------