Earnings Release • Nov 21, 2011
Earnings Release
Open in ViewerOpens in native device viewer
News Details
Corporate | 21 November 2011 07:44
InTiCa Systems AG: Significant improvement of sales and earnings
InTiCa Systems AG / Key word(s): Quarter Results
21.11.2011 / 07:44
CONTACT Walter Brückl | CEO
PHONE +49 (0) 851 – 966 92 – 0
FAX +49 (0) 851 – 966 92 – 15
MAIL [email protected]
/
Significant improvement of sales and earnings
Group sales grew by 50% from EUR 22.0 million to EUR 33.0 million
EBITDA increased by 78% to EUR 4.7 million (9M 2010: EUR 2.7 million)
EBIT reached EUR 1.2 million (9M 2010: EUR minus 0,5 million)
Net Profit for the period amounted to EUR 0.7 million (9M 2010: EUR minus 0.8 million)
Passau, November 21, 2011 – The performance in the first nine months of 2011 reflects InTiCa Systems’ (Prime Standard, ISIN DE0005874846, Ticker IS7) successful development. The main growth drivers in the reporting period were once again the Industrial Electronics segment and Automotive Technology.
Sales and earnings position
Total sales rose 50 percent from EUR 22.0 million in the first nine months of 2010 to EUR 33.0 million at end-September 2011. In the Communication Technology segment sales slipped by around 9 percent year-on-year from EUR 9.5 million to EUR 8.6 million. In the same period, the Automotive Technology segment grew sales by around 76 percent from EUR 6.4 million to EUR 11.2 million, while the Industrial Electronics segment increased its sales by around 117 percent from EUR 6.1 million to EUR 13.2 million.
In the first nine months of 2011, EBITDA increased 78 percent year-on-year from EUR 2.7 million to EUR 4.7 million. In the third quarter, EBITDA was EUR 1.6 million (Q3 2010: EUR 0.7 million), a rise of around 139 percent.
Group EBIT also increased substantially in the first nine months of 2011 to EUR 1.2 million (9M 2010: minus EUR 0.5 million). As a result the EBIT margin was around 3.7 percent.
The financial result was minus EUR 0.4 million at the end of the first nine months (9M 2010: minus EUR 0.3 million). Net income for the first nine months increased significantly compared with the previous year to EUR 0.7 million (9M 2010: minus EUR 0.8 million). Earnings per share were thus EUR 0.16 (9M 2010: minus EUR 0.19).
Orders on hand remain at a high level
Orders on hand amounted to EUR 36.3 million as of September 30, 2011, a decline of 14.6 percent from the year-back level of EUR 30.7 million. It is still highly probable that the company will achieve its sales target for 2011.
Outlook
At present the Board of Directors sees no reason to alter its guidance, including its sales forecasts for the Group and the individual segments, given in the report on the first three months of 2011. It still expects to report sales of over EUR 40 million at year end, which would be more than 35 percent higher than at year-end 2010. The Automotive Technology and Industrial Electronics segments should account for about 75 percent of Group sales.
In view of the successful expansion of the product range, the successful entry into new markets and the increase in value added resulting from new production capacity, the Board of Directors of InTiCa Systems AG expects the group to achieve an earnings turnaround in 2011 and an EBIT margin of around 3 percent.
Despite of the present difficult selling situation on the solar markets and the heightened uncertainty in the euro zone, assuming at least a moderate economic growth, we currently expect a stable sales and earnings trend in 2012.
Various new developments will help us continue our successful product diversification strategy to generate sustained growth in both sales and earnings.
The complete interim report for the first nine months of 2010 is available at Investor Relations/Publications on the company’s website at www.intica-systems.de.
InTiCa Systems AG
The Board of Directors
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. 410 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 meanagement 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 not 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.
End of Corporate News
21.11.2011 Dissemination of a Corporate News, transmitted by DGAP – a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP’s 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 |
| - - - |
| 147017 21.11.2011 |
Building tools?
Free accounts include 100 API calls/year for testing.
Have a question? We'll get back to you promptly.