InTiCa Systems SE
InTiCa Systems AG publishes preliminary results for FY 2016
DGAP-News: InTiCa Systems AG / Key word(s): Preliminary Results Higher sales in both segments
EBIT margin above expectations Considerable improvement in operating cash flow Positive outlook for business performance in 2017 Passau, March 23, 2017 – InTiCa Systems AG (Prime Standard, ISIN DE0005874846, ticker IS7) today announced provisional, unaudited figures for fiscal 2016. Since year-end business was weaker than anticipated, the target sales growth for the full year was not quite achieved. Nevertheless, EBIT exceeded expectations at around EUR 1.0 million and the EBIT margin was also better than expected at 2.3% (an increase of >40% compared with the previous year). This improvement in profitability is especially pleasing given the high expenses in 2016 for the construction of the new facility in Mexico, and the expansion and optimization of production. Overall, 2016 was a successful year for InTiCa Systems AG. Key strategic milestones were achieved in internationalization, building up the training and research centre, and extension and optimization of the site in the Czech Republic. Group sales increased 5.9% year-on-year to EUR 44.9 million (2015: EUR 42.4 million). The Automotive Technology segment grew sales 3.6% to EUR 36.3 million (2015: EUR 35.0 million) and in the Industrial Electronics segment sales were up 16.7% at EUR 8.6 million (2015: EUR 7.4 million). The Automotive Technology segment’s share of Group sales therefore decreased slightly to 80.8% (2015: 82.5%). The operating cash flow also developed well and amounted to EUR 4.1 million in 2016 (2015: EUR 2.6 million). The cash outflow for investing activities was EUR 4.5 million (2015: EUR 9.0 million). Alongside intangible assets, investment focused mainly on the extension and internationalization of the production facilities as well as further development of the technology and training centre. The cash inflow from financing activities was EUR 1.1 million (2015: EUR 0.3 million). Overall there was a cash inflow of EUR 0.7 million in the reporting period (2015: outflow of EUR 6.1 million). Cash and cash equivalents were EUR 0.4 million as of December 31, 2016 (December 31, 2015: EUR 0.2 million). On the reporting date, InTiCa Systems had assured credit facilities of EUR 10.35 million, which can be drawn at any time. The equity ratio was 40% at year-end (2015: 41%). In view of the good order situation, the Board of Directors anticipates a further increase in sales and a sustained improvement in the earnings situation in 2017. A more detailed outlook for the 2017 financial year and the future development of the segments will be announced when the annual report for 2016 is published on April 24, 2017. InTiCa Systems AG The Board of Directors CONTACT Dr. Gregor Wasle | CEO
About InTiCa Systems 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’ Industrial Electronics segment develops and manufactures mechatronic assemblies for the solar industry and other industrial applications.
23.03.2017 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. |
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: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Hamburg, Munich, Stuttgart, Tradegate Exchange |
End of News | DGAP News Service |