24.08.2016
InTiCa Systems AG DE0005874846
DGAP-News: Interim report published: stable earnings trend, healthy sales growth and international expansion
DGAP-News: InTiCa Systems AG / Key word(s): Half Year Results
Interim report published: stable earnings trend, healthy sales growth and
international expansion
24.08.2016 / 07:30
The issuer is solely responsible for the content of this announcement.
---------------------------------------------------------------------------
Sales grew by 1.4% to EUR 22.9 million (H1 2015: EUR 22.6 million)
EBIT margin stable at 2.9% (H1 2015: 2.9%)
Net profit amounted to EUR 0.4 million (H1 2015: EUR 0.4 million)
Operating cash flow increased to EUR 2.3 million (H1 2015: EUR 1.2 million)
Subsidiary in Mexico established
Passau, August 24, 2016 - InTiCa Systems AG (Prime Standard, ISIN
DE0005874846, ticker IS7) today published the interim report for the first
half year of 2016. In addition to a moderate sales growth and a stable
earnings trend, InTiCa Systems AG realized a number of milestones in the
first half year 2016 on the way to achieve its strategic goals. The
technology center in Passau was opened and significant progress regarding
the establishment of the new production site in Mexico was made.
Sales and earnings position
In the first six months of 2016, Group sales rose 1.4% to EUR 22.9 million
(H1 2015: EUR 22.6 million). While sales in the Automotive Technology
segment increased slightly from EUR 18.6 million to EUR 18.7 million, the
Industrial Electronics segment posted an increase of 6.0% year-on-year to
EUR 4.2 million (H1 2015: EUR 4.0 million).
The cost of materials relative to total output was considerably lower than
in the prior-year period at 54.6% (H1 2015: 58.8%). By contrast, the
personnel expense ratio rose considerably from 19.4% to 21.8% as a result
of an increase in the headcount.
EBITDA (earnings before interest, taxes, depreciation and amortization) was
constant compared with the previous year at EUR 2.9 million (H1 2015: EUR
2.9 million). The EBITDA margin slipped slightly from 12.7% to 12.6%. EBIT
(earnings before interest and taxes) was EUR 0.7 million, also on a par
with the previous year (H1 2015: EUR 0.7 million). The EBIT margin was also
unchanged at 2.9% in the reporting period (H1 2015: 2.9%). In the first six
months of 2016, EBIT was EUR 0.7 million in the Automotive Technology
segment (H1 2015: EUR 1.2 million) and minus EUR 42 thousand in the
Industrial Electronics segment (H1 2015: minus EUR 520 thousand).
The financial result was minus EUR 0.2 million in the reporting period (H1
2015: minus EUR 0.2 million) and tax expense was EUR 6 thousand (H1 2015:
EUR 61 thousand). The net profit amounted to EUR 0.4 million in the
reporting period (H1 2015: EUR 0.4 million). Earnings per share were EUR
0.10 (H1 2015: EUR 0.09).
The operating cash flow improved significantly to EUR 2.3 million in the
first half of 2016 (H1 2015: EUR 1.2 million). Since capital expenditures
were lower than in the prior-year period and the company took out a long-
term loan, the total cash flow in the reporting period was positive at EUR
0.7 million (H1 2015: outflow of EUR 5.4 million). The equity ratio
remained constant at 41% in the reporting period (December 31, 2015: 41%).
Outlook and international expansion
Business performance in the first six months was in line with the Board of
Directors' expectations so it is retaining its outlook for fiscal 2016. At
present, the Board of Directors still assumes that, given a stable economic
environment, Group sales will rise by around 10% to EUR 47 million in 2016
and the EBIT margin will remain at over 2%. In autumn this year, a small-
scale serial production for a customer at individual plants shall start at
the new site in Mexico. In the first half of 2017, it is intended to start
operation of the first full-scale production line for two customers.
"Internationalization is the basis of our growth strategy," comments Dr.
Gregor Wasle, Spokesman of the Board of Directors of InTiCa Systems AG, on
the significance of the international expansion. "The aim is to give InTiCa
Systems a "global footprint" outside Europe. As the first step, we want to
supply customers in our established business locally, in line with the
"follow the customer" principle. That is why we selected Mexico for our new
site. Mexico is the world's fourth largest automobile exporter and one of
the most important production locations for the international automotive
industry."
Accordingly, the development of the new plant in Mexico was driven forward
in the second quarter of 2016 and important milestones were reached. The
new subsidiary Sistemas Mecatrónicos InTiCa S.A.P.I. de C.V. was
established and the decision for the location was made. In an industrial
park in Silao in the state of Guanajuato in the Bajio region, where other
well-known international automotive suppliers are located, InTiCa Systems
AG rented a production facility with more than 5,000 sqm production space.
"All our main customers are located within a radius of about 200 km to our
new location. At present about 70% of components are imported. There is
therefore correspondingly high demand for local suppliers. Thanks to the
North American Free Trade Agreement (NAFTA) and similar agreements with
more than 40 countries, Mexico also offers good access to many attractive
markets. Favourable wages and good to very good training standards are
further advantages of a location in this country, which has over 120
million inhabitants," added Günther Kneidinger, Member of the Board of
Directors.
The complete interim report for the first half year 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.
---------------------------------------------------------------------------
24.08.2016 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
---------------------------------------------------------------------------
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
---------------------------------------------------------------------------
495175 24.08.2016
|
Weitere Ad-hoc und Unternehmensrelevante Mitteilungen zu
InTiCa Systems AG ISIN: DE0005874846 können Sie bei EQS abrufen
Elektrotechnik , 587484 , IS7 , XETR:IS7