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DGAP-News: InTiCa Systems AG publishes interim report on H1 2014

August 20, 2014

DGAP-News: InTiCa Systems AG / Key word(s): Half Year Results InTiCa Systems AG publishes interim report on H1 2014 21.08.2014 / 07:30 --------------------------------------------------------------------- InTiCa Systems AG publishes interim report on H1 2014 Automotive Technology segment grew sales 23.5% Group sales increased slightly to EUR 19.7 million (H1 2013: EUR 19.5 million) Group earnings improved 14.2% to EUR 0.41 million (H1 2013: EUR 0.36 million) Outlook for fiscal 2014 confirmed Passau, August 21, 2014 - InTiCa Systems AG which is listed in the Prime Standard on the Frankfurt Stock Exchange (ISIN DE0005874846, Ticker IS7) made further progress in repositioning itself from a component supplier to a solution provider in the first six months of 2014. In particular, the Automotive Technology segment has established itself as a reliable system partner for system suppliers and grew sales by a further 23.5%. Based on this continued dynamic trend in the automotive business, InTiCa Systems AG grew Group sales by 0.7% year-on-year to EUR 19.7 million in the reporting period. Net income increased from EUR 358 thousand to EUR 409 thousand. "The clear increase in sales in the Automotive Technology segment is further evidence that the product portfolio we have developed over the years is right. In addition, in recent months a number of new orders have been obtained for serial production of new products such as stators for hybrid cars and actuators for fuel injection systems. We have therefore achieved our goal of being recognized as a development partner. Although not all segments developed equally well in the first six months of this year, overall we are on track to achieve the goals for fiscal 2014," comments Walter BrÜckl, Chairman of the Board of Directors of InTiCa Systems AG. Sales and earnings trend The InTiCa Systems Group increased sales slightly to EUR 19.7 million in the first six months 2014. This increase of 0.7% was attributable to the sustained dynamic growth of the Automotive Technology segment, where sales advanced 23.5% to EUR 13.0 million (H1 2013: EUR 10.6 million). By contrast, sales dropped 36.2% to EUR 2.0 million (H1 2013: EUR 3.2 million) in the Communication Technology segment and 20.5% to EUR 4.6 million (H1 2013: EUR 5.8 million) in the Industrial Electronics segment. There was a clear year-on-year reduction in the ratio of material costs to total output from 59.6% to 56.9% despite the slight increase in sales. By contrast, the personnel expense ratio rose from 16.4% to 18.6% as a result of an increase in the headcount. Expenses for agency staff at the production site in Prachatice are shown in other operating expenses, which increased from EUR 2.0 million in H1 2013 to EUR 2.4 million in H1 2014. In all, Group EBITDA dropped 7.7% to EUR 2.8 million in the first six months of 2014 (H1 2013: EUR 3.0 million). The EBITDA margin also declined from 15.5% to 14.2%. The picture was similar for EBIT: Group EBIT slipped slightly from EUR 0.7 million to EUR 0.6 million, which equates to a year-on-year decline in the EBIT margin from 3.6% to 3.2%. While EBIT increased to EUR 0.8 million in the Automotive Technology segment in the first six months of 2014 (H1 2013: EUR 0.7 million), it was unchanged from the year-back level at EUR 0.3 million in Industrial Electronics and the EBIT margin improved from 5.2% to 5.9%. Only the Communication Technology segment again reported negative EBIT of minus EUR 0.4 million (H1 2013: minus EUR 0.3 million). The financial result was unchanged year-on-year at minus EUR 0.2 million. Since the tax expense of EUR 27 thousand was far lower than in the first half of 2013, the Group's next income increased to EUR 0.41 million in the first six months of 2014 (H1 2013: EUR 0.36 million), giving earnings per share of EUR 0.10 (H1 2013: EUR 0.08). The equity ratio declined to 53% in the reporting period (December 31, 2013: 57%). The operating cash flow was minus EUR 0.7 million owing to the increase in trade receivables in the first six months of the year. Moreover, around EUR 2.3 million was spent on raising production capacity in the Automotive Technology segment in the reporting period. At the same time, cash and cash equivalents declined to EUR 47 thousand as of June 30, 2014 (December 31, 2013: EUR 1.3 million). Outlook The business trend in the first six months was in line with the expectations of the Board of Directors, which considers that InTiCa Systems AG is well-positioned in terms of both costs and products. This is also reflected in orders on hand, which amounted to around EUR 37 million as of June 30, 2014, above the prior-year level of around EUR 36 million. The Board of Directors is therefore confirming its outlook. Based on the assumption of at least moderate overall growth, it currently still expects the Group to report sales of around EUR 43 million and an EBIT margin of around 3.5% for 2014. The Automotive Technology segment will remain the most important segment in the Group. However, there are also opportunities to gain access to additional markets thanks to new products in the Industrial Electronics and Communications Technology segments. Together with increased vertical integration and systems solution competence, offering customer-specific solutions is a key competitive advantage for InTiCa Systems. The full interim report for the first six months of 2014 is available for download from the Investor Relations section of InTiCa Systems' website at www.intica-systems.de. InTiCa Systems AG The Board of Directors CONTACT Walter BrÜckl | CEO PHONE +49 (0) 851 - 966 92 - 0 FAX +49 (0) 851 - 966 92 - 15 MAIL investor.relations@intica-systems.de About InTiCa Systems: InTiCa Systems is a European leader in the development, manufacture and commercialization of inductive components, passive analogue switching technology and mechatronic assemblies. It operates in the Automotive Technology, Communication Technology and Industrial Technology segments and has ca. 470 employees at its sites in Passau (Germany) and Prachatice (Czech Republic). The Automotive Technology segment focuses on innovative products that raise the comfort and safety of cars, improve the performance of electric and hybrid vehicles and reduce carbon emissions. InTiCa Systems' Communication Technology segment is the German market leader in splitters for the transmission of broadband signals, while the Industrial Electronics segment develops and manufactures mechatronic assemblies for the solar industry and other industrial applications. Forward-looking statements and predictions This press release contains statements and forecasts referring to the future development of InTiCa Systems AG which are based on current assumptions and estimates by the management that are made using information currently available to them. If the underlying assumptions do not materialize, the actual figures may differ substantially from such estimates. Future developments and results are in fact dependent on a large number of factors; they contain different risks and imponderables and are based on assumptions that may not be accurate. We neither intend nor assume any obligation to update forward-looking statements on an ongoing basis as these are based exclusively on the circumstances prevailing on the date of publication. --------------------------------------------------------------------- 21.08.2014 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- Language: English Company: InTiCa Systems AG Spitalhofstraße 94 94032 Passau Germany Phone: 0851 / 96692 0 Fax: 0851 / 96692 15 E-mail: investor.relations@intica-systems.de Internet: www.intica-systems.de ISIN: DE0005874846 WKN: 587484 Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Hamburg, MÜnchen, Stuttgart End of News DGAP News-Service --------------------------------------------------------------------- 283146 21.08.2014


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