DGAP-News: init innovation in traffic systems AG: init Annual General Meeting in Karlsruhe
(firmenpresse) - DGAP-News: init innovation in traffic systems AG / Key word(s):
AGM/EGM/AGM/EGM
init innovation in traffic systems AG: init Annual General Meeting in
Karlsruhe
16.05.2013 / 17:30
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Shareholders pleased about share price and growth prospects
- Dividend unchanged at EUR 0.80 per share
- Order backlog 43 per cent higher than previous year
- Revenues target of EUR 105m set for 2013 (2012: EUR 97.3m)
- init will develop Asia and Arabia as new growth market
Karlsruhe, 16 May 2013. Shareholders of init innovation in traffic systems
AG (ISIN DE 0005759807) were pleased to learn about the company's ongoing
positive growth prospects and that the dividend will remain unchanged at
EUR 0.80 per share. Although the Management Board narrowly missed getting
the unanimous backing it had sought for its policies, with 98.5 per cent
approval for the grant of discharge this year, there was no shortage of
praise and applause for both managers and the workforce at this year's
Annual General Meeting. init continues on the right track. Revenues,
incoming orders and share price are still out. In spite of all the
excellent results you can be proud of, especially of the employees,' the
shareholder representatives
init's founder and long-standing chairman, Dr. Gottfried Greschner, had
previously made clear that the growth trend remains upwards following nine
straight years of growth for the company, which now sells traffic
telematics and electronic fare collection systems on four continents.
'In 2013 we will in all likelihood generate revenues in excess of EUR 100
million for the very first time', he predicted. 'Furthermore, we have
already guaranteed the bulk of our revenues for 2014 thanks to record-high
order backlog of EUR 178m. Although the 2013 financial year is generally
expected to be a very tough one, we are once again expecting new orders
worth more than EUR 105m, which will help us maintain our long-term
growth.'
init systems control largest vehicle fleets
Thanks to its integrated telematics, planning and electronic fare
collection solutions, init is a globally sought-after partner of transport
companies seeking to expand their intelligent infrastructure. init hardware
and software control the world's largest local public transport fleets.
Major projects currently underway include those with the Rheinbahn/VIA in
Düsseldorf and Essen (more than 1,500 vehicles), Luxembourg (more than 900
buses) and Montreal (approx. 2,000 buses). init is also securing itself new
market potentials through innovations such as the fully-integrated systems
solution MOBILE, which covers and simultaneously optimises a transport
company's entire supply chain within a closed IT circuit, as well as a new
on-demand service management solution for which an app was specially
developed to provide drivers with all the information they need via their
smartphones.
The challenge: Asia
The Chairman told the meeting that the expansion of init's sales operations
in the Asia-Pacific region would be the greatest challenge facing the
company in the years ahead. 'Responses to our initial activities suggest
that within five years we could be generating higher revenues there than in
North America, which is currently our largest market', he said confidently.
To this end, INIT Asia-Pacific Pte. Ltd beganoperating in Singapore in
November 2012 with the intention of participating in forthcoming major
tenders in this region. In addition, there is great need for investment in
major cities in the Arab world with good opportunities for init in upcoming
tenders
In view of this development, the init Board is confident that it can follow
up on 2012, which was the company's most successful year ever on the stock
exchange, not only maintaining but even increasing its unprecedentedly high
share price.
End of Corporate News
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16.05.2013 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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Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: init innovation in traffic systems AG
Käppelestraße 4-6
76131 Karlsruhe
Germany
Phone: +49 (0)721 6100 0
Fax: +49 (0)721 6100 399
E-mail: ir(at)initag.de
Internet: www.initag.de
ISIN: DE0005759807
WKN: 575980
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, München,
Stuttgart
End of News DGAP News-Service
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211508 16.05.2013
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