Landscape orientation is not supported!
Please turn your device to portrait mode.

We use cookies on our website. To learn more about how we use cookies and how you can change your settings, please click here! By using kapsch.net, you agree to the use of cookies.
Loading

Press Release

11/17/2016 - Investor News

Kapsch TrafficCom AG – Strong growth in the first half of 2016/17

Highlights

  • Revenue growth of 27% compared with the first half-year of the previous year
  • EBIT increased by 5%
  • Consolidation of transportation division acquired from Schneider Electric
  • Despite acquisitions and dividend payment: net debt of only EUR -0.5 million
  • New projects obtained and solid new business pipeline

"Kapsch TrafficCom continues to grow in terms of revenues and profit. Group profitability should increase with the progressive integration of Kapsch TrafficCom Transportation which we acquired at the start of this fiscal year,” states Georg Kapsch, CEO Kapsch TrafficCom.

Unless otherwise specified, all values in EUR million H1 2016/17 +/- H1 2015/16
Revenue 311.7 +27% 245.0
EBIT    28.7    +5%    27.4
Profit for the period    20.1    +5%    19.2
Profit for the period attributable to equity holders    20.6 +23%    16.7


Vienna, November 17th 2016 – Kapsch TrafficCom AG, listed in the prime market of the Vienna stock exchange (ISIN AT000KAPSCH9), achieved further growth in the first half of the 2016/17 fiscal year. Compared with the same period of the previous year, revenues increased by EUR 66.7 million (+27%) to EUR 311.7 million. Total tolls collected in the "Electronic Toll Collection" segment generated around three quarters of the Group's revenues. The "Intelligent Mobility Solutions" segment accounted for the remainder.

The operating result (EBIT) increased by EUR 1.3 million (+5%) to EUR 28.7 million. The profit for the period rose by EUR 0.9 million (+5%) to EUR 20.1 million, with the comparison value of the previous year including a positive one-off effect in the financial result. The income tax expenses for this year were also higher than in the previous year as a consequence of the higher pre-tax result. Due to the acquisition of the remaining 48% share in the Czech Kapsch Telematic Services spol. s r.o., the profit for the period attributable to equity holders rose by 23%.

The initial consolidation of Kapsch TrafficCom Transportation, the global transportation division acquired from Schneider Electric on April 1st 2016, had a significant impact on the results. Overall revenues for the Group increased by EUR 53.0 million. In the current fiscal year, the results of KTT as well as the integration costs will weigh on the profitability of Kapsch TrafficCom Group.

Furthermore, the smart parking subsidiary company, Streetline, has made another negative contribution to EBIT. Although Streetline is generating revenues, these currently continue to be exceeded by expenses for sales and further development of technology. Kapsch TrafficCom management considers the business sector of this US company to be strategically promising in years to come. More than 30% of traffic volume in cities can be attributed to vehicles searching for a parking space. Reducing this traffic not only makes life easier for drivers, it also lowers the risk of accidents, the traffic-related costs faced by city administrations, and the amount of exhaust gas emissions.

Regarding customers, it should be noted that in the first half year, the existing agreement for operating the nationwide truck toll collection system in the Czech Republic was extended by up to three years. Kapsch TrafficCom also obtained a number of additional orders. For example, the company secured two further projects in the state of Queensland, Australia. There were also successes in the USA such as awards for contracts regarding the renovation of the toll collection system for all bridges and tunnels for the Port Authority of New York and New Jersey, and for the modernization of the integrated traffic management system of the Highway Operations Center of the Massachusetts Traffic Authority. North America is the key growth market for the Kapsch TrafficCom Group.

The capital resources of Kapsch TrafficCom continue to be extremely sound. Despite the dividend payment totaling EUR 19.5 million, the acquisition of the transportation division from Schneider Electric (EUR 16.6 million) and the acquisition of the remaining 48% of the Czech Kapsch Telematic Services (EUR 14.0 million), net debt at the end of the half year was just EUR -0.5 million.

Outlook

A primary objective over the remaining course of the current fiscal year will be to drive forward the integration of KTT, with a view to minimizing costs and realizing synergies as quickly as possible, while also helping the approximately 900 new employees to become acquainted with and a part of the corporate culture of the Kapsch TrafficCom Group.

The management is confident, based on the results for the first six months of the year, that Kapsch TrafficCom Group will increase its annual revenues by more than EUR 100 million, in line with expectations. The EBIT margin for the toll collection business is set to significantly exceed 10%, while the margin for the IMS business will be adversely impacted by the integration and the lower EBIT contribution of KTT, as well as the negative EBIT performance of Streetline.

You can find the report for the first half of 2016/17 at: www.kapsch.net/ktc/investor_relations/reports

Kapsch TrafficCom is a provider of intelligent transportation systems (ITS) in the segments of toll collection, city access control and parking space management, traffic management, traffic monitoring, utility vehicle monitoring, electronic vehicle registration and V2X cooperative systems. The end-to-end solutions of Kapsch TrafficCom cover the entire value creation chain of its customers, from components and design to the installation and operation of systems, all from a single source. The core business comprises the development, installation and operation of electronic toll collection and traffic management systems.
Reference projects in more than 50 countries on all continents have made Kapsch TrafficCom a globally recognized ITS provider. As part of the Kapsch Group, an Austrian family-owned technology group founded in 1892, Kapsch TrafficCom is headquartered in Vienna, Austria, and has subsidiaries and branches in 33 countries. It has also been listed since 2007 on the Vienna Stock Exchange (KTCG) and earned revenues of EUR 526 million in the 2015/16 fiscal year. The company employs over 4,600 employees worldwide.

 

Press contact:

Ingrid Lawicka
Spokesperson
Kapsch AG
Am Europlatz 2, 1120 Vienna, Austria
P +43 50 811 1705
ingrid.lawicka@kapsch.net

Investor contact:

Hans Lang
Investor Relations Officer
Kapsch TrafficCom AG
Am Europlatz 2, 1120 Vienna, Austria
P +43 50 811 1122
ir.kapschtraffic@kapsch.net

 

Download: