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.
In the first three quarters of 2012/13, the Kapsch TrafficCom Group achieved revenues of
The segment RSP (Road Solution Projects) recorded revenues of
In the segment SEC (Services, System Extensions and Components Sales), revenues increased by 6.3% from
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
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 the 2012/13 fiscal year can be downloaded from www.kapsch.net/ktc/investor_relations/reports/download/Quarterly-reports/2012-13/KTC_IR_Report_FY13-Q1-Q3.pdf.
Kapsch TrafficCom is a provider of high-performance intelligent transportation systems (ITS) in the application fields of toll collection, urban access management and traffic safety and security. Kapsch TrafficCom covers the entire value creation chain of its customers as a one-stop shop by providing products and components as well as subsystems as open market products, by integrating them into turnkey systems or by developing end-to-end solutions, including services for the technical and commercial operations of systems. Within its current core business of electronic toll collection (ETC), Kapsch TrafficCom designs, builds and operates ETC systems, in particular for
Press contact:
Ingrid Lawicka
Spokesperson
Kapsch AG
Am Europlatz 2, 1120 Vienna, Austria
Phone +43 50811 1705
E-mail ingrid.lawicka@kapsch.net
Investor contact:
Marcus Handl
Investor Relations Officer
Kapsch TrafficCom AG
Am Europlatz 2, 1120 Vienna, Austria
Phone +43 50811 1120
E-mail ir.kapschtraffic@kapsch.net