InTiCa Systems AG

  • WKN: 587484
  • ISIN: DE0005874846
  • Land: Deutschland

Nachricht vom 21.03.2019 | 07:30

InTiCa Systems AG publishes provisional figures for FY 2018

DGAP-News: InTiCa Systems AG / Key word(s): Preliminary Results

21.03.2019 / 07:30
The issuer is solely responsible for the content of this announcement.

Sales and earnings in line with the revised expectations

Higher sales and positive earnings expected in 2019

Passau, March 21, 2019 - InTiCa Systems AG (Prime Standard, ISIN DE0005874846, ticker IS7) is publishing its provisional, unaudited figures for the 2018 financial year. As announced when the nine-month figures were published, the development of sales was considerably below expectations in the past financial year because a major European customer for hybrid technology reduced order call-off volumes and there was a delay in serial production for a major new project of significance for the Mexico site. In addition, earnings were adversely affected by the shortage of relevant raw materials, combined with supply bottlenecks and higher material costs, and by a sharp rise in personnel costs in the Czech Republic.

Overall, Group sales declined by 4.3% year-on-year to EUR 47.9 million (2017: EUR 50.1 million). In the Automotive Technology segment, sales shrank 3.1% to EUR 37.0 million (2017: EUR 38.1 million). In the Industrial Electronics segment, sales were EUR 10.9 million (2017: EUR 11.9 million). The Automotive Technology segment therefore accounted for 77.2% of total sales (2017: 76.2%).

EBITDA (earnings before interest, taxes, depreciation and amortization) fell from EUR 5.8 million in the previous year to EUR 3.4 million and the EBITDA margin dropped to 7.0% (2017: 11.6%). EBIT (earnings before interest and taxes) was minus EUR 0.95 million (2017: EUR 1.5 million). The Group made a pre-tax loss of EUR 1.4 million (2017: pre-tax profit of EUR 1.0 million).

Cash and cash equivalents totalled EUR 0.1 million as of December 31, 2018 (December 31, 2017: EUR 0.1 million) and InTiCa Systems also had assured credit facilities of EUR 10.35 million on the reporting date. The equity ratio was around 33% on the reporting date (December 31, 2017: 42%).

Orders on hand remained at a very high level of EUR 87.7 million as of December 31, 2018. A significant proportion of orders are already for new products for hybrid technology and e-mobility. Further, the Board of Directors expects that in 2019 a positive effect will come from the restructuring plan, which includes extensive measures to optimize costs and raise the efficiency of the corporate organization. In the current financial year, the Board of Directors expects to report a renewed rise in sales, an improvement in the earnings position and a net profit. A more detailed outlook for the 2019 financial year and the future development of the segments will be announced when the annual report for 2018 is published on April 25, 2019.

InTiCa Systems AG

The Board of Directors

CONTACT Dr. Gregor Wasle | CEO
TEL +49 (0) 851 - 966 92 - 0
FAX +49 (0) 851 - 966 92 - 15

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 and Industrial Technology segments and has more than 700 employees at its sites in Passau (Germany), Prachatice (Czech Republic) and Silao (Mexico).

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.

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.

21.03.2019 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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