Announcements

22:56 CET On November 15, 2019, Kapsch TrafficCom informed to be best bidder for a tolling project in the EMEA region (Europe, Middle East, Africa). It was the tender for the Gauteng province in South Africa. The total project volume over its six year lifetime should have exceeded EUR 400 million. Kapsch TrafficCom has been informed that the tender was terminated. From today’s perspective it is unforeseeable if and when this project will be tendered again. The existing tolling contract scheduled to end on December 2, 2019 has already been extended for an additional year.

15:10 CET The operating result (EBIT) of Kapsch TrafficCom for the first three quarters of financial year 2019/20 amounts to EUR 7.7 million. This is about 77% below the EBIT in the comparable period of the previous year and includes one-off effects of EUR -10.6 million. Based on the weak earnings development, the company revokes without replacement the outlook for the EBIT of the financial year (EUR 35 million excluding one-off effects). The highlights of Q1-Q3 2019/20 will be published as planned on February 18, 2020.

17:33 CET Kapsch TrafficCom is supplier to Plenary Infrastructure Belle Chasse LLC, a consortium just awarded by the Louisiana Department of Transport and Development with the Belle Chasse Bridge & Tunnel Replacement Public-Private Partnership Project. Kapsch TrafficCom will provide the consortium with tolling technology and operate and maintain the toll system. Implementation activities are scheduled to commence in 2023 followed by 30 years of technical and commercial operations. The project volume for Kapsch TrafficCom is estimated to be more than 100M USD over the 30 year term. The overall project entails the building of a four-lane bridge to replace the current traffic infrastructure (a bridge and a tunnel). The newly constructed bridge includes a modern all-electronic tolling technology (which does not require toll booths), as part of the first Private, Public, Partnership (P3) project in the state. The awarded consortium will recoup its investment through tolls paid by motorists using the new bridge. The project is scheduled to start in January 2020 and has a total term of approximately 34 years, just over 4 years to build the bridge and 30 years of operations and maintenance.

Munich/Vienna, 19 December 2019  – autoTicket GmbH is the project company for the implementation of infrastructure levies contemplated by the Federal Republic of Germany (tolling system for passenger vehicles – so-called “Pkw-Maut”). It is a 50/50 joint venture of Kapsch TrafficCom AG and CTS EVENTIM AG & Co. KGaA as shareholders. Following the unilateral termination of the operating agreement regarding the infrastructure levies with effect as of 30 September 2019 by the German Federal Ministry of Transport and Digital Infrastructure, autoTicket GmbH and its two shareholders decided today that the contractually agreed payment claims against the Federal Republic of Germany amount to a total of approx. EUR 560 millions and to assert claims in this amount in several steps now. autoTicket GmbH and its shareholders Kapsch TrafficCom AG and CTS EVENTIM AG & Co. KGaA are convinced that autoTicket GmbH has a compensation claim due to the present early termination of the agreement by the Federal Republic of Germany, equal to the loss of profits over the term of the agreement. In addition the operating agreement provides for a compensation of the costs arising from the termination of the agreement which includes compensation claims of subcontractors. Such subcontractors include – to varying degrees – Kapsch TrafficCom AG and CTS EVENTIM AG & Co. KGaA as well as some of their affiliated companies. The operating agreement provides for an efficient procedure for dispute resolution: First an independent auditor shall validate the amount of the asserted loss of profits. Thereafter, settlement negotiations with the Federal Republic of Germany are contemplated. In the event of failure of this procedure, the claim will be finally decided in arbitration.

Kapsch TrafficCom has been informed to be best bidder for a tolling project in the EMEA region (Europe, Middle East, Africa). Following a final due diligence, the end of the objection period and subject to successful negotiations with the customer, the project could be awarded within the upcoming three weeks. The total project volume over its six year lifetime is expected to exceed EUR 400 million. Kapsch TrafficCom will announce more details as soon as the contract is secured.

Vienna, October 14, 2019  – Based on preliminary data, Kapsch TrafficCom announces that in the first half of the fiscal year 2019/20, the result from operating activities (EBIT) is expected to reach approximately EUR 8 million. Adjusted for non-recurring effects, in particular relating to the termination of toll projects in Germany, the EBIT would have amounted to EUR 14 million (same period of the previous year: EUR 17.8 million). Revenues are expected to reach EUR 358 million. This would be higher than the revenues in the same period of the previous year (EUR 335.8 million). Based on the preliminary half-year results, Kapsch TrafficCom adapts the outlook for the fiscal year 2019/20. Currently, the company expects the EBIT (excluding non-recurring effects) to reach about EUR 35 million (variation: +/-10%). Previously, the company assumed that the EBIT of the fiscal year 2019/20 (excluding non-recurring effects) would increase by at least 5%. The sales outlook, however, is confirmed. The annual revenues are expected to go up by at least 5%. The final results for the first half of fiscal year 2019/20 will be published on November 20, 2019.

According to the already given outlook, the course of the 2019/20 fiscal year will be similar to that of the one before: a weaker first half-year period should be followed by a strong second half. This seasonality seems to have a stronger than expected impact on the operating result (EBIT) in Q1 2019/20. It will likely amount to approximately EUR 4.6 million (previous year: EUR 7.1 million). A further negative impact may arise from the consolidation of the not yet finally available results of the German operations. On the other hand, revenues in Q1 2019/20 will reach approximately EUR 186 million, a significant increase over the same period in the previous year (EUR 158.2 million). The company confirms the outlook for the fiscal year 2019/20 (increase of both revenues and EBIT by at least 5%). The results of Kapsch TrafficCom for the first quarter 2019/20 will be published on August 20, 2019.

In 2018, MTS Maut & Telematik Services GmbH, a 100% subsidiary of Kapsch TrafficCom AG, was awarded the contract for planning, development, implementation, operation and maintenance of the automated ISA enforcement system (automatic enforcement) of the German infrastructure charge (passenger vehicle toll). Furthermore, a consortium consisting of Kapsch TrafficCom AG and CTS EVENTIM AG & Co. KGaA was commissioned with the collection of the German passenger vehicle toll. Today, Kapsch TrafficCom was informed by the customer about the termination of both contracts with effect of 30 September 2019. Currently, the termination and its consequences are being evaluated. The contracts contain protective provisions that guard against pecuniary damages for the operating company and its shareholders. This also applies in the event that the infrastructure charge is not introduced.

According to Kapsch TrafficCom’s latest outlook for the fiscal year 2018/19, EBIT was expected to reach previous year’s level and revenues were expected to increase. In the meantime, unaudited results are available. Based on these results, the management expects an EBIT of about EUR 57 million (i.e. about 14% above previous year’s EUR 50.1 million). Revenues are expected to reach about EUR 738 million (previous year: EUR 693.3 million). Kapsch TrafficCom will announce the final results for the fiscal year 2018/19 on June 18, 2019.