DGAP-News: InTiCa Systems AG: Year-on-year rise in operating result in first quarter despite lower sales
(firmenpresse) - DGAP-News: InTiCa Systems AG / Key word(s): Quarter Results
InTiCa Systems AG: Year-on-year rise in operating result in first
quarter despite lower sales
22.05.2012 / 08:00
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CONTACT Walter Brückl | CEO
PHONE +49 (0) 851 - 966 92 - 0
FAX +49 (0) 851 - 966 92 - 15
MAIL investor.relations(at)intica-systems.de
Consolidated sales declined 18% year-on-year to EUR 8.9 million
EBITDA was around the year-back level at EUR 1.3 million (2011: EUR 1.4
million)
EBIT increased to EUR 0.3 million (2011: EUR 0.2 million)
Positive pre-tax profit of EUR 0.13 million (2011: EUR 0.11 million)
Board of Directors confirms the forecasts for 2012
Passau, May 22, 2012 - InTiCa Systems AG (Prime Standard, ISIN
DE0005874846, symbol: IS7) today publishes the interim report for Q1 2012.
Despite a drop in sales, InTiCa Systems' operating result was higher than
in the first quarter of the previous year. Automotive Technology was the
top-performing segment in terms of sales and earnings.
Sales and earnings position
Overall, sales fell 18% year-on-year, from EUR 10.9 million to EUR 8.9
million. The Automotive Technology segment grew sales 44% to EUR 4.6
million (Q1 2011: EUR 3.2 million). However, this strong rise did not fully
offset the declines registered by the Communication Technology and
Industrial Electronics segments. The Communication Technology segment
reported sales of EUR 1.2 million in Q1 2012 (Q1 2011: EUR 2.2 million)
while the Industrial Electronics segment reported sales of EUR 3.0 million
(Q1 2011: EUR 5.5 million). In the Industrial Electronics segment there
were signs of an uptrend compared with the fourth quarter of 2011 (Q4 2011:
EUR 2.7 million).
Thanks to a clear improvement in the material cost ratio (from 68% to 60%)
EBITDA was around the year-back level at EUR 1.3 million.
Group EBIT increased year-on-year to EUR 0.3 million in Q1 2012 (Q1 2011:
EUR 0.2 million). The EBIT margin increased from 2.2% to 2.9%. The main
reason for this was the very good performance of the Automotive Technology
segment, which reported EBIT of EUR 0.31 million in Q1 2012 (Q1 2011: EUR
0.25 million). The Industrial Electronics segment posted EBIT of EUR 0.02
million (Q1 2011: EUR 0.35 million). In the Communication Technology
segment, EBIT was only slightly negative at minus EUR 0.07 million (Q1
2011: minus EUR 0.36 million).
In the first three months of 2012, the financial result was unchanged from
Q1 2011 at minus EUR 0.1 million (Q1 2011: minus EUR 0.1). Group net income
was EUR 0.06 million (Q1 2011: EUR 0.14 million), giving earnings per share
of EUR 0.01 (Q1 2011: EUR 0.03). Including the currency translation gains
of EUR 0.5 million from the translation of foreign business operations,
comprehensive income was EUR 0.6 million in Q1 2012.
The equity ratio improved to 55% in the reporting period (December 31,
2011: 52%). Moreover, current liabilities to banks were reduced by EUR 1.1
million to EUR 1.2 million. The operating cash flow was clearly positive at
EUR 0.5 million and the positive liquidity situation was further boosted by
the scheduled repayment of a bonded loan totaling EUR 1.5 million.
Outlook
For the whole of 2012, assuming at least moderate economic growth despite
the difficult situation in the German solar industry and the continued
economic uncertainty, especially in the euro zone, the Board of Directors
currently expects sales to decline slightly, while the earnings trend
should be stable. It also assumes that the Group will achieve an
improvement in liquidity in the low single-digit millions range.
The interim report for Q1 2012 is available at Investor
Relations/Publications on the company's website at www.intica-systems.de.
InTiCa Systems AG
The Board of Directors
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. 410 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.
End of Corporate News
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22.05.2012 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Language: English
Company: InTiCa Systems AG
Spitalhofstraße 94
94032 Passau
Germany
Phone: 0851 / 96692 0
Fax: 0851 / 96692 15
E-mail: investor.relations(at)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
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