Do you want to switch the language?

Press

Sandra Bijelic
Sandra Bijelic

Head of Corporate Communications
Kapsch TrafficCom AG
Am Europlatz 2, 1120 Vienna, Austria

sandra.bijelic@kapsch.net
Press Material

Here you will find our current press photos and photos of the executive board in print quality as well as further download material and videos.

27. February 2013
Kapsch TrafficCom holds firm to long-term growth strategy.

2012/13 Q1-Q3: 1 April – 31 December 2012 2012/13 Q1-Q3 +/- % 2011/12 Q1-Q3 Revenues (in EUR million) 310.9 -24% 408.2 EBIT (in EUR million)    -9.6 -   37.4 Profit for the period (in EUR million)    -5.8 -   24.7 Earnings per share (in EUR)      -1.09 -        1.40 Vienna, February 27, 2013 – Kapsch TrafficCom AG (ISIN AT000KAPSCH9), listed on the Vienna Stock Exchange in the prime market segment, reports on three challenging quarters of the current 2012/13 fiscal year. The new projects that the group succeeded in obtaining in the past months have hardly yet contributed to revenues or earnings. At the same time, the delays in existing major projects in Poland and South Africa led to significantly lower revenues than expected. The updated calculation for the order in South Africa further indicated a decline in the expected project revenues by roughly 10%, which, together with the additional costs and standby costs, negatively impacted the project’s earnings contribution in the third quarter. The overall profitability of the project is also lower than expected as a result. The legal action in South Africa, which was not directed against Kapsch TrafficCom but has delayed the commissioning of the toll collection system in the Gauteng province, has now been dismissed. The company hopes that the system can be put into operation at the start of the coming fiscal year – following announcement of the starting date by the government, which had been expected by now. In the operation project in Poland, Kapsch TrafficCom was able to clarify key open issues regarding the system operation during the third quarter. This can also be seen in the significant improvement of the margin in the segment Services, System Extensions, Components Sales (SEC). “The earnings situation is currently not satisfactory. However, our fundamental business continues to operate solidly, and we see enormous growth potential in our markets. In the previous year, we restructured our organization in line with this growth, which has not yet been realized. We have decided to continue with our previous course in order to participate in the expected future projects, some of them quite large. Naturally, we will at the same time strive to take advantage of potential cost reductions and analyze where we can streamline or suspend investments,” explains Georg Kapsch, CEO of Kapsch TrafficCom AG. Revenue and earnings. In the first three quarters of 2012/13, the Kapsch TrafficCom Group achieved revenues of EUR 310.9 million – a decline of 24% compared to the outstanding equivalent period in the previous year. The EBIT was negative at EUR -9.6 million, weighed down primarily by the South African project. The segment RSP (Road Solution Projects) recorded revenues of EUR 64.0 million after EUR 181.0 million in the same period of the previous fiscal year, a decrease of 64.6%. While the two implementation projects in Poland and South Africa are reflected in the previous year’s figures, the projects begun in Belarus, France, Australia and the U.S.A. have not yet delivered comparable revenue contributions. This situation contributed to the inability to cover the costs assigned to this segment. Moreover, the implementation project for the electronic toll collection system in the South African province of Gauteng weighed down the results due to the delay, the revenue up to commissioning that was lower than originally expected and the additional costs and standby costs incurred. The segment EBIT for the first three quarters of 2012/13 was therefore EUR -30.1 million after EUR 2.0 million in the same period of the previous year. In the segment SEC (Services, System Extensions and Components Sales), revenues increased by 6.3% from EUR 220.3 million to EUR 234.3 million. While the operation project in Poland delivered a significant revenue contribution, the delay in commissioning of the South African project had a dampening effect here as well. The delay also meant the absence of the expected deliveries of on-board units. The number of on-board units sold amounted to 6.7 million after 8.0 million in the previous year. The segment EBIT was EUR 20.1 after EUR 34.9 million in the same period of the previous year. Financial position and cash flows. Despite the disappointing earnings situation, the strength of the Kapsch TrafficCom Group can be seen in the solid balance sheet structure. The equity ratio increased to 47.7% as at 31 December 2012. On the balance sheet date, the company had no net debts, rather net assets in the amount of EUR 1.0 million. The cash and cash equivalents amounted to an impressive EUR 83.7 million. The net working capital and capital employed were back to significantly below the comparison values of the previous year. Not least, the free cash flow increased to EUR 89.7 million. Kapsch TrafficCom therefore enjoys a solid foundation, including for future projects. Outlook. The negative influence of the South African project will still weigh down the annual results for 2012/13, bringing them considerably lower than previous expectations. In view of the progress that has been made in the existing projects and the expected tenders and additional projects, the executive board of the Kapsch TrafficCom Group is holding firm to the growth-oriented strategy and looks forward optimistically to the future. The report on the first three quarters of fiscal year 2012/13: English , German

Read the full article
22. November 2012
Kapsch TrafficCom focusing on projects in the second half of fiscal year 2012/13.

2012/13 H1: 1 April – 30 September 2012 2012/13 H1 +/- % 2011/12 H1 Revenues (in EUR million) 203.4 -27% 278.8 EBIT (in EUR million)    -6.2 -   40.1 Profit for the period (in EUR million)    -7.0 -   22.4 Earnings per share (in EUR)     -0.85 -        1.36 Vienna, 22 November 2012 – Kapsch TrafficCom AG (ISIN AT000KAPSCH9) listed on the Prime Market of the Vienna Stock Exchange has reported on a complex first half-year in 2012/13. Delays in implementing and rolling out large projects had a negative impact on revenues and earnings, while the main balance sheet figures since the first quarter again demonstrate the solid financial foundations underpinning the activities of the Kapsch TrafficCom Group. Moreover, Kapsch TrafficCom managed to win some significant new contracts in the reporting period. Revenues of the Kapsch TrafficCom Group came in at EUR 203.4 million, 27.1% below the corresponding figure in the previous year of EUR 278.8 million. The previous year was marked by outstanding revenues following the implementation of major projects, but the implementation projects recently won have yet to be reflected in the figures for the reporting period. The projects in South Africa and Poland have not yet generated the expected levels of operation revenue, while the sale of on-board units only registered the expected growth in the second quarter. The lower revenues made it more difficult to cover costs completely. Coming in at EUR -6.2 million, EBIT was negative in the first half of 2012/13 following EUR 40.1 million in the same period in the previous year, though a substantial improvement was achieved from the first to the second quarter based on the higher volume of sold on-board units and the greater contribution made by the operation project in Poland. The nationwide electronic toll collection system in Poland has been in operation for more than a year, and extensions have already been ordered. However, the revenues for Kapsch TrafficCom have fallen short of expectations. In South Africa the launch of the electronic toll collection system for multi-lane free-flow traffic in the province of Gauteng was delayed shortly before its roll-out at the end of April due to a legal action filed against the road operator; consequently there is no operation revenue to offset costs for the time being. At the end of October a decision was made to continue the system roll-out process, and Kapsch TrafficCom is optimistic about the latest developments in this project. Kapsch TrafficCom enjoyed some strategic successes in the second quarter on the U.S. market: at the end of July and for the first time in this region the company was chosen to supply an entire system in Texas, comprising a toll collection system, an intelligent transportation system and a network communications system. Just one month later, Kapsch TrafficCom was awarded another contract, this time for an incident detection system in a tunnel in Houston. In Brazil – one of the fastest growing markets in the ITS industry – Kapsch TrafficCom won its first contract for the delivery of on-board units. And at the end of August the company won another contract for a toll collection system in Sydney, Australia. The contracts won in recent months have demonstrated the growing convergence of the market for intelligent transportation systems (ITS). The Executive Board sees this as confirmation of the recently adopted strategy and the new corporate structure implemented from early October. This enables greater importance to be attached to select ITS applications, over and above toll collection. The Kapsch TrafficCom Group now has a globally uniform organizational structure with coordinated standards, processes and interfaces. This will underpin the continuation of growth. Revenues and earnings. Both of the implementation projects in the segment Road Solution Projects (RSP) in Poland and South Africa were associated with high revenues in the first six months of the previous fiscal year. The newly launched projects were unable to compensate for this in the reporting period, and so revenues posted a decline of 59.2% from EUR 122.9 million to EUR 50.2 million. This was insufficient to provide full coverage for costs, and therefore EBIT in the segment RSP came in at EUR -15.7 million. In the segment Services, System Extensions, Components Sales (SEC), revenues dropped by 5.6% from EUR 153.2 million in the previous year to EUR 144.7 million. The operation project in Poland made a significant contribution to revenues. However, the suspension of the project launch in South Africa and the – now completed – contract negotiations with individual agencies of the E-ZPass Group meant that the volume of sold on-board units fell short of expectations in the reporting period. The number of sold units in the first six months of fiscal 2012/13 was 4.0 million, compared to 5.7 million in the previous year. The competitive pricing for this contract, which has now resulted in common global margins in the U.S.A. as well, also had an impact on earnings. The decline in EBIT from EUR 32.4 million in the previous year to EUR 9.1 million mainly reflects the reduced sales of on-board units and the low or even absent contributions from the projects in Poland and in South Africa. Financial position and cash flows. The main balance sheet figures were significantly improved in the first half of the 2012/13 fiscal year by the completion of the implementation project in Poland and the associated payment. Total assets fell from EUR 557.7 million to EUR 481.5 million compared to the reporting date of 31 March 2012. This was caused by the reduction of trade receivables under assets, while on the equity and liabilities side of the balance sheet, mainly through the decline in current financial liabilities. Equity capital dropped to almost the same extent, thus bumping the equity capital ratio up marginally from 45.9% to 46.2%. These developments triggered an increase in the free cash flow compared to the first half-year of fiscal 2011/12, from EUR -44.9 million to EUR 78.7 million. At EUR 16.3 million, net debt remains at a very low level, while net current assets and capital employed were lowered substantially. Cash and cash equivalents at the end of the half-year amounted to EUR 67.7 million. These significant changes demonstrate that Kapsch TrafficCom has a solid balance sheet structure – also in view of future projects. Outlook. The current order book and the successes achieved will also be reflected in the earnings of the Kapsch TrafficCom Group in the second half of 2012/13. The major project in Belarus was launched in September as planned. In addition to this, the coming months will be marked by further developments in South Africa and by participation in tenders. Kapsch TrafficCom is currently working on a bid for a toll collection system tender in Hungary. The report on the first half of fiscal year 2012/13: English , German

Read the full article
24. August 2012
Kapsch TrafficCom enjoys a stronger balance sheet despite weaker results in the first quarter of 2012/13.

2012/13 Q1: 1 April – 30 June 2012 2012/13 Q1 2011/12 Q1 2010/11 Q1 Revenues (in million EUR) 106.4 134.7 66.3 EBIT (in million EUR)    -5.6   22.2  4.8 Profit for the period (in million EUR)    -4.4   13.9  4.5 Profit per share (in EUR)      -0.46       0.91    0.22 Free cash flow (in million EUR)   74.6    -9.0  3.2 Vienna, August 24, 2012 – Kapsch TrafficCom AG (ISIN AT000KAPSCH9), listed in the Prime Market of the Vienna Stock Exchange, experienced a heterogeneous first quarter in fiscal year 2012/13. While the developments in the two ongoing projects in Poland and South Africa led to disappointing revenues and results during the reporting period, the significant improvement in the key balance sheet figures reconfirmed the financial strength of the Kapsch TrafficCom Group. The revenues of the Kapsch TrafficCom Group amounted to EUR 106.4 million, or 21.1 % below the value of the same period in the previous year (2011/12 Q1: EUR 134.7 million). The EBIT in the first quarter of 2012/13 was negative at EUR -5.6 million, down from EUR 22.2 million in the first quarter of 2011/12. In South Africa, the start of the electronic toll collection system for multi-lane free-flow traffic in the Gauteng province was suspended indefinitely shortly before the planned commissioning at the end of April due to a lawsuit. The government has appealed this decision, and the first hearings were held on 15 August 2012. The nationwide electronic toll collection system in Poland went into operation in July 2011, and the system acceptance took place on 21 February 2012. In the first quarter of the current fiscal year, Kapsch TrafficCom was contracted with an extension of 320 km, and additional route sections are expected to follow in 2013. The company also received payment for the final milestone of the system installation. However, performance related issues resulted in higher operating costs during the reporting period, which had a negative impact on the result. The developments of both of these major projects had a pronounced effect on the first quarter of 2012/13. At the same time, the changes to the key figures reflect the project-related volatility in the balance sheet and results. Comparisons between individual quarters are therefore of only limited value, and the company itself evaluates its success based on the year-end result. Revenues and earnings. In the segment Road Solution Projects (RSP), the two implementation projects in Poland and South Africa were associated with high revenues in the first quarter of the previous year. The newly begun projects were unable to compensate for this during the reporting period, and revenues declined as a result by 36.3 % from EUR 54.8 million to EUR 34.9 million. In consequence, the company was not able to fully cover its costs, and the EBIT in the segment RSP was therefore negative at EUR -7.2 million. In the segment Services, System Extensions, Components Sales (SEC), revenues declined by 13.8 %, from EUR 78.5 million in the same quarter of the previous year to EUR 67.7 million. The contract negotiations with the individual authorities of the E-ZPass Group for finalization of the ten-year agreement resulted in on-board unit sales lagging behind the expected quantities. The competitive pricing, which brought the margins in the U.S.A. down in line with typical global margins, for this order also weighed on the result. The volume of delivered on-board units in the first quarter of 2012/13 was 1.7 million, following 2.8 million in the same period of the previous year. The suspended commissioning of the project in South Africa also negatively impacted revenues. The operation project in Poland, on the other hand, made a considerable revenue contribution. The decline of the segment EBIT from EUR 18.5 million in the previous year to EUR 1.6 million can be attributed largely to the reduced sale of on-board units, the lost revenues from the South African project and the performance related higher operation costs in Poland. Financial position and cash flows. The key balance sheet figures improved significantly in the first quarter of fiscal year 2012/13 owing to conclusion of the implementation project in Poland and the associated payment. The total assets declined due to the reduction of trade receivables as well as, in particular, due to the decrease in current financial liabilities with respect to the year-end closing date of 31 March 2012, falling from EUR 557.7 million to EUR 499.0 million. Total equity declined only slightly, producing an increase in the equity ratio from 45.9 % to 49.6 %. The free cash flow grew to EUR 74.6 million as a result of these developments, whereas this figure was negative at EUR -9.0 million in the comparison quarter of the previous year. Despite the corporate bond due in 2017, the Kapsch TrafficCom Group had net assets of EUR 0.2 million at the end of the first quarter, while the net working capital decreased from EUR 285.7 million as of 31 March 2012 to EUR 199.1 million on 30 June 2012. Cash and cash equivalents at the end of the quarter had increased to EUR 77.4 million. These significant changes demonstrate that Kapsch TrafficCom enjoys a solid balance sheet structure that will enable the company to maintain its focus on investments in research and development as well as new projects despite a short-term dip in profit. Outlook. At the end of July, Kapsch TrafficCom was selected as supplier for a complete system in Texas. In the coming years, two highways in northern Texas will see implementation of what is called a "managed lane" system, which encompasses a toll collection system, an intelligent transportation system and a network communication system. It will be one of the newest and most modern transportation systems in North America. The executive board views this as a reinforcement of the growth strategy as well as confirmation of the assumption that, in addition to toll collection systems, demand for integrated systems consisting of various ITS applications will increase in the future. As part of a large project in Belarus, the installation of a nationwide electronic toll collection system will begin in autumn, and associated revenues will be reflected on the balance sheet as of the second half of the current fiscal year. In addition, the company expects decisions on other potential projects during the course of the current fiscal year. In order to continue the planned growth with regard to new projects and new markets, the Kapsch TrafficCom Group is also working intensively on implementation of the 2016 strategy and the new company structure this entails. The report on the first quarter of the fiscal year 2012/13: English , German

Read the full article
Contact us