Corporate release
Kapsch TrafficCom – Final Earnings for the first quarter 2018/19.
Highlights
- Delays in existing projects led to a decline in revenues and EBIT
- The order situation remains positive
- Decisions on the awarding of a number of major projects are expected by the end of 2018
“Although the results of the first quarter are weaker than initially expected I remain optimistic about the future. We have not lost any significant orders, but there have been differences between the planned and current project progress in some projects for various reasons – which were sometimes beyond our control. The order situation remains positive and we also expect decisions on the awarding of a number of major projects“, said Georg Kapsch, CEO of Kapsch TrafficCom.
Unless otherwise stated, all values in EUR million | Q1 2017/18 | Q1 2018/19 | +/- |
---|---|---|---|
Revenues | 164.3 | 158.2 | -3.7% |
EBIT | 11.7 | 7.1 | -39.3% |
EBIT margin | 7.1% | 4.5% | -2.6%p |
Earnings for the period | 6.6 | 2.5 | -62.3% |
Earnings per share (EUR) | 0.52 | 0.21 | -60.3% |
Vienna, August 23, 2018 – The final earnings for the first quarter of fiscal year 2018/19 were published by Kapsch TrafficCom today and hardly deviate from the preliminary revenues and operating result (EBIT) announced on July 24, 2018.
It was primarily delays in existing implementation projects (ETC segment) that caused revenues in the first quarter of 2018/19 to decline by 3.7% to
The project business accounts for a significant portion of Kapsch TrafficCom’s revenues (more than 25% in Q1 2018/19). It can occasionally happen that project milestones are reached in a different quarter than planned. Sometimes even a short delay (beyond the end of the reporting period) is enough to cause shifts between quarters.
Furthermore, higher currency losses in the financial result and income taxes led to a decline of more than 60% in the result for the period and to earnings per share of EUR 0.21.
Segment results.
In Q1 2018/19, 75.6% of the revenues were attributed to the ETC segment and 24.4% to the IMS segment.
ETC (Electronic toll collection). Unless otherwise stated, all values in EUR million |
Q1 2017/18 | Q1 2018/19 | +/- |
---|---|---|---|
Revenues | 123.4 | 119.6 | -3.1% |
EBIT | 14.6 | 7.0 | -52.3% |
EBIT margin | 11.9% | 5.8% | -6.0%p |
Revenues in the ETC segment totaled
The 3.3 million
IMS (Intelligent mobility solutions). Unless otherwise stated, all values in EUR million |
Q1 2017/18 | Q1 2018/19 | +/- |
---|---|---|---|
Revenues | 40.9 | 38.6 | -5.7% |
EBIT | -2.9 | 0.1 | n.a. |
EBIT margin | -7.1% | 0.3% | +7.5%p |
Revenues in the IMS segment decreased by 5.7% to
Free cash flow and balance sheet.
As a consequence of the lower earnings and changes in working capital, the free cash flow in the first quarter amounted to
Event after the end of the quarter.
Kapsch TrafficCom increased its shareholding in Intelligent Mobility Solutions Ltd., a joint venture in Zambia, to 51% already in May 2018. In August 2018, the shareholders agreement was adapted giving Kapsch TrafficCom control over the joint venture so that it will be fully consolidated going forward.
You can find the the report on Q1 2018/19 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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