InTiCa Systems AG — Earnings Release 2006

Aug 30, 2006

News Details

Corporate | 30 August 2006 07:00

InTiCom Systems Aktiengesellschaft:PRESS RELEASE

Corporate news transmitted by DGAP – a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. —————————————————————————— • Successful start to automotive serial production at the new production location in Prachatice (Czech Republic) • Sales growth in the first half 2006 of 35 % to EUR 20.5 million • Capital increase strenghten equity ratio (70 %) and liquid funds (+ 50 %) Passau, 30 August 2006 – InTiCom Systems AG (ISIN DE0005874846, Prime Standard) achieved sales growth in the first half 2006 of 35 % to EUR 20.5 million (previous year EUR 15.2 million) in spite of production establishment in the Czech Republic and delay of the VDSL network extension in Germany. Second quarter sales of EUR 10.3 million stand alone exceeded last years amount of EUR 6.1 million by 70 %. DSL splitters for subscribers and national telecommunications companies remained the main sales drivers. The most pronounced growth was again generated abroad as well as initial sales from the automotive electronics segment. Profits from ordinary activities (EBT) result in EUR 0.3 million in the second quarter 2006 (previous year 0.5 million). These lower profits for the first time compared to the same quarter of the previous year are mainly dominated from the marked-to-market valuation of fixed-interest securities according to IAS/IFRS as of 30 June 2006 resulting in an imputed book loss of a good EUR 0.3 million. H1 earnings (EBT) totalling EUR 1.4 million were thus only about 10 % lower than the previous year’s figure of EUR 1.5 million. Under the constant assumption of a tax rate of some 38 %, H1 net income of EUR 0.9 million results (previous year EUR 1.0 million). InTiCom Systems thus generated earnings per share of EUR 0.20 in H1 2006 (previous year EUR 0.24). Capital expenditures in H1 2006 amounted to some EUR 4.1 million (previous year EUR 2.6 million) and allowed for the further establishment of serial production for automotive electronics at the modern and highly automated production facility in the Czech Republic. Production there began in mid-May of this year for the handling of already existing serial orders for components of keyless go and tyre pressure monitor systems, immobiliser modules and filter applications of multiple systems suppliers and automobile manufacturers from Asia and Germany. Group liquidity, which consists of available-for-sale financial securities (EUR 13.6 million) and cash and cash equivalents (EUR 2.4 million) totalled EUR 16.0 million in first half 2006, compared to the prior year’s figure of EUR 10.6 million. The strong rise in liquid funds was primarily the result of the cash inflow from the capital increase in Q1 to the tune of some EUR 9.4 million as well as from a continuously stringent working capital management. The order book at InTiCom Systems amounted to EUR 12.6 million as of 30 June 2006 (previous year EUR 8.0 million) with an ongoing order backlog of a good three months. The year 2006 will be heavily impacted by the decision of the German Federal Government on the regulation of the VDSL network in Germany or the lack thereof. The speed of the further expansion of this innovative communications technology in Germany will critically depend on this. Irrespective of when the government makes the decision, the growth potential of this future market will remain a significant driver for additional growth spurts in the DSL business of InTiCom Systems in the coming years. InTiCom Systems expects a moderate growth in sales and profit for 2006 compared to the past fiscal year. The full-year effect from the automotive division will first be seen in 2007. InTiCom Systems AG Board of Management For further details of the half-year accounts 2006 and the complete interim report H1 2006 please use www.inticom-systems.de  English  publications  2006 quarterly reports or please contact directly: Dieter Schopf Board Member Phone: +49 – (0)851 – 966 92 – 0 Fax: +49 – (0)851 – 966 92 – 15 mailto: d.schopf@inticom-systems.de (c)DGAP 30.08.2006 ————————————————————————— Language: English Issuer: InTiCom Systems Aktiengesellschaft Spitalhofstraße 94 94032 Passau Deutschland Phone: +49 (0)851 9 66 92-0 Fax: +49 (0)851 9 66 92-15 E-mail: info@InTiCom-Systems.de WWW: www.InTiCom-Systems.de ISIN: DE0005874846 WKN: 587484 Indices: Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin-Bremen, Hamburg, München, Stuttgart End of News DGAP News-Service —————————————————————————