init innovation in traffic systems SE

Earnings Release • Aug 4, 2003

News Details

Ad-hoc | 4 August 2003 08:57

Init AG english

init AG exceeds sales and operating profit targets Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– init AG exceeds sales and operating profit targets Karlsruhe, August 4, 2003. The init innovation in traffic systems AG accelerated the pace of growth in the first half of the business year 2003 and exceeded its sales- and operating profit targets. According to the figures presented now for the first two quarters of 2003, the sales revenues increased by 41,7% to 12,3 Mio. Euro compared to the previous year (1st half of the business year 2002: 8,7 Mio. Euro). This growth is not only the effect of the shift which was announced last year, of sales due to longer project periods in 2003, but also the result of the increasingly successful strategy of internationalization and the booming business in North America. In the first half of the year, the sales in North America increased by 194% to 3,5 Mio. Euro (2002: 1,2 Mio. Euro). In the same time, init added revenues in Germany of 6,3 Mio. Euro (+ 9,6%, previous year 5,7 Mio. Euro). inits sales in the rest of Europe increased to 2,5 Mio. Euro. Compared to the previous year, this is a plus of 43,1% (2002: 1,7 Mio. Euro). The profit situation has developed even better than the sales. Compared with the previous year, the gross profit doubled to 2,8 Mio. Euro (2002: 1,3 Mio. Euro). The earnings before interest and taxes (EBIT) amounted to -0,1 Mio. Euro (previous year: -1,2 Mio. Euro). In the first two quarters in 2003, init reported a consolidated result of -28 TEuro (previous year: -681 TEuro). In the second quarter of the current business year init increased the surplus to 514 TEuro (2002: 55 TEuro). For the first time, earnings per share in the first half of the year has already exceeded the profit margin (2002: -0,07 Euro). It has to be taken into consideration that the first two quarters of a year – with a percentage of 20 % of annual sales – are traditionally the weakest. At the same time the operating profit of the half-year is charged with 50 % of the annual fixed costs. At the end of June, orders on hand increased by more than 40 % compared with the previous year to more than 46 Mio. Euro (2002: 32,8 Mio. Euro). This is a new record. For that reason, init pursues its growth targets and expects an increase in sales of about 20 % and a clear improvement in the operating profit. For more information please contact Mr. Bernhard Schmidt, phone +49 / 721 / 6100398 or Mail ir@initag.de . end of ad-hoc-announcement (c)DGAP 04.08.2003 ——————————————————————————– WKN: 575980; ISIN: DE0005759807; Index: Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin- Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 040857 Aug 03