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Kapsch TrafficCom AG
Legal Proceedings Report • Jul 5, 2023
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Legal Proceedings Report
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Ad-hoc | 5 July 2023 17:07
autoTicket GmbH expects EUR 243 million from arbitration proceedings against the Federal Republic of Germany based on a settlement and Kapsch TrafficCom AG changes outlook for financial year 2023/24.
Kapsch TrafficCom AG / Key word(s): Scheme of Arrangement
autoTicket GmbH expects EUR 243 million from arbitration proceedings against the Federal Republic of Germany based on a settlement and Kapsch TrafficCom AG changes outlook for financial year 2023/24.
05-Jul-2023 / 17:07 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
Ad hoc release.
autoTicket GmbH expects EUR 243 million from arbitration proceedings against the Federal Republic of Germany based on a settlement and Kapsch TrafficCom AG changes outlook for financial year 2023/24.
Vienna, July 5, 2023 – The Executive Board of Kapsch TrafficCom AG (ISIN: AT000KAPSCH9) announces that autoTicket GmbH, a joint venture of CTS Eventim AG Co. KGaA and Kapsch TrafficCom AG, which is held in equal shares, expects a compensation and damages payment in the amount of EUR 243 million due to a settlement agreement with the Federal Republic of Germany to end the arbitration proceedings conducted due to the termination of the operations contract for the collection of the infrastructure charge (“passenger car toll”).
The settlement is expected to be formally finalized and executed in the coming days and thus becomes effective.
With the payment of the amount of EUR 243 million to autoTicket GmbH by the Federal Republic of Germany, the reciprocal claims arising from the operating agreement will have been settled, in particular the claims for compensation and damages initially asserted by autoTicket GmbH against the Federal Republic of Germany in the amount of approximately EUR 560 million. In accordance with the settlement reached, autoTicket GmbH will have to pay, out of the amount of EUR 243 million, the winding-up and other costs as well as expenses already incurred and future expenses, the total amount of which cannot yet be determined, before the portion which Kapsch TrafficCom AG is entitled to can be distributed. From today´s perspective, Kapsch TrafficCom AG can expect an inflow of at least approximately EUR 80 million.
In the outlook for the financial year 2023/24, the management of Kapsch TrafficCom AG now expects a significant improvement in the operating result (EBIT) with revenue growth in the single-digit percentage range.
Contact for further information:
Marcus Handl
Investor Relations Officer
Kapsch TrafficCom AG
Am Europlatz 2
1120 Vienna, Austria
Phone +43 50 811 1120
Further information: www.kapsch.net/ktc Follow us on Twitter and LinkedIn
End of Inside Information
05-Jul-2023 CET/CEST News transmitted by EQS Group AG. www.eqs.com
| Language: | English |
| Company: | Kapsch TrafficCom AG |
| Am Europlatz 2 | |
| 1120 Vienna | |
| Austria | |
| Phone: | +43 50811 1122 |
| Fax: | +43 50811 99 1122 |
| E-mail: | [email protected] |
| Internet: | www.kapschtraffic.com |
| ISIN: | AT000KAPSCH9 |
| WKN: | A0MUZU |
| Listed: | Vienna Stock Exchange (Official Market) |
| EQS News ID: | 1673299 |
| End of Announcement | EQS News Service |