RTX — Earnings Release 2013

May 13, 2013

Considerable growth in revenue has resulted in improved operating profit/loss
in the second quarter, and Management raises expectations to operating
profit/loss (EBIT) to be in the range of DKK 8-12 million for the financial
year.

Noerresundby, 2013-05-13 14:19 CEST (GLOBE NEWSWIRE) --

The Supervisory Board of RTX A/S has today considered and adopted the Group’s
interim report for the second quarter of the financial year 2012/13 (covering
the period 1 January 2013 to 31 March 2013).

Summary of the interim report of the RTX Group for the second quarter of 2012/13

-- Group revenue increased to DKK 59.2 million for the second quarter of
2012/13 compared to DKK 46.6 million in the same period last year.
-- Recent years’ investments in product and technology platforms in Enterprise
& VoIP are the main reason for the Group’s growth in revenue of 27.1%.
Revenue in Enterprise & VoIP increased from DKK 24.1 million to DKK
36.6 million in the second quarter of 2012/13 equivalent to an increase in
revenue of 51.5%.
-- The core business in Des
ign Servi
ces, which typically comprises sale of consultancy hours, increased by more
than 10%. At the same time we experienced a reduced sale of our module
solutions. Total revenue in Design Services increased from DKK 21.9 million
in the second quarter of 2011/12 to DKK 22.1 million in the second quarter
of 2012/13 equivalent to a total increase in revenue of 0.8%.
-- The growth in the Group’s gross margin increased from DKK 29.2 million to
DKK 34.0 million. Due to the increased revenue in Enterprise & VoIP,
who is generally selling products with a lower gross margin than in Design
Services, the Group’s gross margin decreased from 62.6% in the second
quarter of 2011/12 to 57.4% in 2012/13.
-- Despite the increased level of activity the Group’s capacity costs (staff
costs, other external costs and depreciations) decreased from DKK 33.1
million
in the second quarter of 2011/12
to DKK 31.0 million
in the second quarter of 2012/13.
-- Operating profit (EBIT) increased to DKK 3.1 million compared to
DKK 0.1 million in the same period last year.
-- Profit after tax amounts to DKK 3.0 million compared to negative DKK 0.4
million in the same period last year.
-- The business unit Design Services has within the test business achieved an
agreement with a major company in USA for supplies of a series of test
systems. The agreement will influence revenue and EBIT in the financial
year 2012/13.
-- The business unit
Enterprise & VoIP has
within the VoIP product segment achieved an agreement with Ericsson LG for
development and delivery of a handset based on the company’s own developed
VoIP platform. The agreement is not expected to have any impact on the
financial result in 2012/13.
-- In connection with the General Assembly’s authorization to the Supervisory
Board to buy treasury shares, the company has purchased 466,380 shares at a
total value of DKK 6.2 million in the second quarter.

Both revenue and operating profit/loss have in the second quarter of 2012/13
developed better than expected at the beginning of the year. The continued
launch of the new handset series to the two major Enterprise customers NEC and
Alcatel Lucent has in this quarter been the main reason for the growth in
Enterprise & VoIP. The orders and customer forecasts received from the
business unit seem to generate continued growth in revenue for the business
unit in the second half of the financial year. Also in the business unit Design
Services the order book for the second half of the financial year is developing
positively – especially for the NRE business. At the same time Design Services
has received a significant order for test systems to be delivered to a major
customer in USA in the second half of the financial year. Measured in revenue
this customer is among the 100 largest companies in USA, and this order is an
important recognition of the competencies within RTX.

Based on the positive development in both business units Management has raised
expectations to both revenue and operating profit/loss (EBIT). We now expect
revenue to be in the range of DKK 230-240 million (previously DKK 200-210
million) and operating profit/loss (EBIT) in the range of DKK 8-12 million
(previously DKK 4-6 million) with an EBITDA in the range of DKK 16-20 million
(previously DKK 12-14 million).

Yours sincerely,

RTX A/S

Jens Alder Flemming
Hynkemejer

Chairman President &
CEO

Questions and further information:
Flemming Hynkemejer, President & CEO, tel +45 96 32 23 00

Meeting for investors and analysts

At 9 am on 15 May 2013 RTX A/S will hold a meeting for investors and analysts
at Danske Bank Markets. At the meeting the company’s management will comment on
the Group’s interim report for the second quarter of 2012/13 and the
expectations for the remaining part of the financial year. Registration for the
meeting can be made by email to equities.events@danskebank.dk.

Appendices

Interim report for the second quarter of 2012/13 comprising:

-- Group financial highlights and key ratios
-- Management’s review
-- Group income statement
-- Group balance sheet
-- Group equity statement
-- Group cash flow statement
-- Notes