Corporate release
Kapsch TrafficCom – Revenues at record level in fiscal year 2017/18, currency effects weigh on profitability, dividend level is planned to remain constant.
Highlights
- Revenue increase of 6.9% to
EUR 693.3 million - EBIT under pressure, but positive after adjustment for extraordinary effects
- Free cash flow of
EUR 33.1 million - Net credit of
EUR 16.2 million - More than 5,200 employees
“Kapsch TrafficCom is pursuing a growth-oriented strategy and I am therefore pleased to be able to report an increase in revenues for the third year in a row. I am convinced that we can continue this trend“, said Georg Kapsch, CEO of Kapsch TrafficCom.
Unless otherwise stated, all values in EUR million | 2016/17 | 2017/18 | +/- |
---|---|---|---|
Revenue | 648.5 | 693.3 | +6.9% |
EBIT | 60.1 | 50.1 | -16.7% |
EBIT margin | 9.3% | 7.2% | -2.0%p |
Profit for the period | 42.7 | 28.0 | -34.3% |
Earnings per share (EUR) | 3.35 | 2.21 | -34.2% |
Vienna, June 18, 2018 – Kapsch TrafficCom was able to increase revenues by 6.9% to
The EBIT of
The financial result deteriorated in the current fiscal year from
The profit for the period fell by around one third year-on-year to
Segment results.
In fiscal year 2017/18, 75.2% of the revenues fell to the ETC segment and 24.8% to the IMS segment.
ETC (Electronic toll collection). Unless otherwise stated, all values in EUR million |
2016/17 | 2017/18 | +/- |
---|---|---|---|
Revenue | 468.4 | 521.6 | +11.4% |
EBIT | 65.5 | 53.5 | -18.3% |
EBIT margin | 14.0% | 10.3% | -3.7%p |
The EBIT in 2016/17 included a positive
The revenues in the ETC segment increased by 11.4% to
IMS (Intelligent mobility solutions). Unless otherwise stated, all values in EUR million |
2016/17 | 2017/18 | +/- |
---|---|---|---|
Revenue | 180.0 | 171.6 | -4.7% |
EBIT | -5.4 | -3.4 | +36.3% |
EBIT margin | -3.0% | -2.0% | +1.0%p |
The EBIT in 2016/17 included a positive
Revenues in the IMS segment decreased by 4.7% to
Free cash flow and balance sheet.
While the free cash flow was still negative midway through the year, the payment of receivables, in particular from Austria, Belarus, and Sweden, in the second half of the fiscal year led to a positive value of
The equity ratio as of March 31, 2018 was 37.0% and thus above the value as of March 31, 2017 (35.0%). In the third quarter, Kapsch TrafficCom repaid the 4.25% corporate bond issued in 2010. This led to a sharp increase in the equity ratio as of December 31, 2017 due to the associated balance sheet contraction. In January 2018, the company took advantage of the attractive interest rate level and took out a
New business opportunities.
Kapsch TrafficCom worked intensively on the development of a series of potential new projects in the 2017/18 fiscal year and in the first weeks of the new fiscal year. The company sees a large number of potential
Strategically, the company is pushing ahead with its activities in the future growth areas of “Smart Urban Mobility” and “Connected Vehicles.” In the short term, no significant contribution to sales and, in general, a negative EBIT contribution is expected. However, the management is convinced that these two areas address key issues for future traffic management. In order to play a role here in the long term, it is necessary to get involved today in order to occupy the market and actively shape its development.
Outlook.
Revenues should grow by around 10% in 2018/19, whereas business dynamics should increase as the year progresses. Positive factors include the establishment of the nation-wide toll system in Bulgaria, dynamic business in the USA and revenues in connection with the new joint venture in Zambia.
In terms of profitability, the company expects also the EBIT to increase by around 10% in 2017/18.
Medium-term, Kapsch TrafficCom plans to grow in both segments. At the same time, the company aims to raise the Group’s EBIT margin to a sustainable level of over 10%. To this end, EBIT in the ETC business is to be maintained well above 10% and EBIT in the IMS business is to be continuously improved. In a good environment, an IMS EBIT of up to 8% appears feasible from today’s perspective.
You can find the fiscal year 2017/18 report here.
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
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 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 currently has more than 5,200 employees, and generated revenue of approximately
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Kapsch Aktiengesellschaft
Am Europlatz 2, 1120 Vienna, Austria
P +43 50 811 1700
alf.netek@kapsch.net
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Kapsch TrafficCom AG
Am Europlatz 2, 1120 Vienna, Austria
P +43 50 811 1728
alexandra.vieh@kapsch.net
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Investor Relations Officer
Kapsch TrafficCom AG
Am Europlatz 2, 1120 Vienna, Austria
P +43 50 811 1122
ir.kapschtraffic@kapsch.net