init innovation in traffic systems SE

  • WKN: 575980
  • ISIN: DE0005759807
  • Land: Deutschland

Nachricht vom 16.05.2018 | 17:12

init innovation in traffic systems SE: Shareholders' Meeting confirms growth strategy

DGAP-News: init innovation in traffic systems SE / Key word(s): AGM/EGM/AGM/EGM

16.05.2018 / 17:12
The issuer is solely responsible for the content of this announcement.

init benefits from digitisation among transport companies

- At EUR 29.5m, the init group's revenue in the first quarter of 2018 was 7 percent above the previous year's figure (EUR 27.5m).

- Growth trend accelerating - compared to 2017 significantly better result expected for 2018

- Dividend remains stable at EUR 0.22

As a provider of solutions, init innovation in traffic systems SE (ISIN DE 0005759807) benefits from megatrends such as digitisation, electromobility and networking among transport providers. As a result, the company, which is the leading global provider of integrated planning, dispatching, telematics and ticketing systems for buses and trains expects its growth trend to accelerate in 2018 and subsequent years, and the Managing Board underscored this at today's Shareholders' Meeting in Karlsruhe.

According to the figures for the first three months of the 2018 financial year, the init group is well on its way to reach the growth targets set for the year as a whole. In the first quarter of 2018, it generated revenues of EUR 29.5m (Q1 2017: EUR 27.5m), around 7 percent higher than the previous year's figure. Earnings before interest, taxes, depreciation and amortisation (EBITDA) were slightly higher than the previous year at EUR 1.5m (Q1 2017: EUR 1.4m) and were also within the target range. Also the EBIT, at EUR 0.4 m corresponds to the previous year's level. Cash flow from operating activities improved significantly compared to the previous year to EUR 1.0m (Q1 2017: EUR -3.2m), which was due to high incoming payments from receivables, among other things.

"The ratios that were achieved correspond with the Managing Board's expectations. For that reason, we maintain our existing forecast regarding revenues (EUR 135m to EUR 145m) and EBIT (between EUR 10m and EUR 12m)," emphasised CEO Dr Gottfried Greschner in his report to the shareholders in the Concert House of the Convention Centre in Karlsruhe.

New record revenues in sight

The Managing Board and shareholder representatives were pleased with the 2017 financial year given record revenues of more than EUR 130m, which represented an increase of 20 percent or EUR 22m over the previous year. For that reason, the proposal of the Managing Board and Supervisory Board for the appropriation of net profit was accepted by a large majority of 99.85 percent. Accordingly, shareholders will once again receive a dividend of EUR 0.22 per share. Around EUR 2.2m of the total net profit for financial year 2017 of EUR 21.1m will therefore be paid out.

Shareholders' satisfaction with the growth strategy, which is focused on organic growth and targeted acquisitions, was reflected in the votes on the approval of the discharge of the Managing Board and Supervisory Board. These were voted with 94.71 and 97.81 percent.

Strong emphasis on growth fields

In the first months of the new financial year, init has already placed a strong emphasis on growth fields. A decisive factor here is the networking of control and ticketing systems. Electronic ticketing via apps, credit card systems and smart phones with best-price billing and posting of all payment transactions, including those between multiple transport companies, is currently growing at an extraordinary rate.

In order to better realise the existing potential, the company must have the corresponding specialist staff, which is why init has become even stronger in these areas. For example, the acquisition of Finnish company Mattersoft Oy not only served to expand the product spectrum, but also provided access to qualified developer capacities at the university location Tampere. At the end of March, init established a subsidiary in Dublin, Ireland. The aim of that new company, "Init Innovations in Transportation Limited", is to provide development services and through them access to developer capacities in Ireland.

Person making the notification:
Simone Fritz
Investor Relations

16.05.2018 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.

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