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- Preliminary results of the financial …
Preliminary results of the financial year 2019/20 clearly below expectations; proposed dividend reduced.
The preliminary financial results for financial year 2019/20 show revenues of approximately EUR 731 million, hence, below guidance.
The operating result (“EBIT”) is expected to come out at about EUR -38 million. Excluding one-off effects of about EUR -39 million, the expected EBIT would have been slightly positive.
The one-off effects comprise: Impairments based on updated forecasts regarding the further business in Zambia (about EUR -27 million,) write-downs relating to the early termination of the German infrastructure charge projects (about EUR -7 million) as well as expenses to end the business activities of Streetline (about EUR -3 million) and regarding the ending of operations of the toll project in Czech Republic (about EUR -2 million). Other one-off effects (net) are expected to amount to EUR -1 million.
In the operative business, significant additional costs for the challenging implementation of new software applications into existing customer systems caused major cost overruns.
The negative share price development of a financial investment (15.4% stake in Q-Free ASA, Norway) had an impact of about EUR -6 million on the financial result. Furthermore, exchange rate turbulences towards the end of the financial year caused (almost exclusively unrealized) exchange rate losses of presumably about EUR -9 million.
Due to the weak result for the period and as far as legally permissible, the Executive Board intends to propose a reduced dividend of presumably EUR 0.25 per share to the Annual General Meeting.
For financial year 2020/21, the management expects the EBIT to be clearly positive again. Due to the current global situation (SARS-CoV-2), no concrete guidance can be given for the time being.
Kapsch TrafficCom will announce the final results for the financial year 2019/20 on June 16, 2020.
Kapsch TrafficCom is a provider of intelligent transportation systems in the fields of tolling, traffic management, smart urban mobility, traffic safety and security, and connected vehicles. As a one-stop solutions provider, Kapsch TrafficCom offers end-to-end solutions covering the entire value creation chain of its customers, from components and design to the implementation and operation of systems. The mobility solutions supplied by Kapsch TrafficCom help make road traffic safer and more reliable, efficient, and comfortable in urban areas and on highways while helping to reduce pollution.
Kapsch TrafficCom is an internationally renowned provider of intelligent transportation systems thanks to the many projects it has brought to successful fruition in more than 50 countries around the globe. As part of the Kapsch Group, Kapsch TrafficCom with headquarters in Vienna, has subsidiaries and branches in more than 30 countries. It has been listed in the Prime Market of the Vienna Stock Exchange since 2007 (ticker symbol: KTCG). Kapsch TrafficCom‘s about 5,000 employees generated revenues of EUR 738 million in fiscal year 2018/19.