DGAP-News: InTiCa Systems AG: InTiCa Systems AG Continues Growth - Significant Increase in Sales and Earnings in H1 2010
(firmenpresse) - InTiCa Systems AG / Half Year Results
19.08.2010 08:01
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Sales grew by around 21.3% to EUR 13.8 million in H1 2010 (H1 2009: EUR
11.3 million)
Strong sales increase in the Industrial Electronics and Automotive
Technology segments of around 518% and 35% in H1 2010
EBITDA nearly doubled and rose to almost EUR 2.0 million in H1 2010 (H1
2009: EUR 1.1 million)
EBIT was slightly positive at EUR 0.002 million in the first half of 2010
(H1 2009: minus EUR 0.6 million)
Orders on hand increased to over EUR 24 million as of June 30, 2010 (H1
2009: EUR 13 million)
Passau, August 19, 2010 - InTiCa Systems AG (ISIN DE0005874846, Prime
Standard, Symbol: IS7) today published its half-year report for fiscal
2010, where the company could achieve a significant increase in sales and
earnings compared with the year-back figures. This proves that InTiCa
Systems is on track to continue its growth.
Sales and earnings position in H1 2010
In the first six months of 2010 InTiCa Systems grew sales by around 21.3%
to EUR 13.8 million, compared with EUR 11.3 million a year earlier. A
further drop in sales of around 19% in the Communication Technology segment
from EUR 7.8 million in H1 2009 to EUR 6.3 million contrasted with a strong
advance in the Automotive Technology and Industrial Electronics segments.
Sales in the Automotive Technology segment increased by around 35%
year-on-year to around EUR 4.0 million (H1 2009: EUR 3.0 million) while in
the Industrial Electronics segment sales surged by around 518% to over EUR
3.4 million (H1 2009: EUR 0.6 million).
EBITDA was far higher than in the first half of 2009; it rose 78.5% from
EUR 1.1 million to almost EUR 2.0 million. EBIT was slightly positive at
EUR 0.002 million in the first half of 2010. That was a significant
improvement compared with the previous year (H1 2009: minus EUR 0.6
million). The negative EBIT of minus EUR 0.56 million reported by the
Communication Technology segment was offset by the strong improvement in
earnings in the Automotive Technology and Industrial Electronics segments
(Automotive Technology EUR 0.22 million, up from EUR 0.06 million in H1
2009; Industrial Electronics EUR 0.34 million, up from EUR 0.009 million in
H1 2009). A further reduction in losses in the Communication Technology
segment, accompanied by a further improvement in the other two segments,
should ensure that EBIT is clearly positive at year-end.
The Group's after-tax income was minus EUR 0.22 million in H1 2010 (H1
2009: minus 0.82 million) as the financial result was negative at minus EUR
0.22 million (H1 2009: minus 0.15 million). Earnings per share were minus
EUR 0.05 (H1 2009: minus EUR 0.19).
Outlook
At present the Board of Directors sees no reason to alter the sales
guidance for the Group and the individual segments given in the report on
the first three months of 2010. It still expects the Group to grow sales by
more than 20% to EUR 28-30 million. Orders on hand in the Group had
increased to over EUR 24 million as of June 30, 2010, so attainment of the
sales target seems very likely.
On the production side, the historically high level of orders on handhas
resulted in very high capacity utilization in all segments, so both
inventories and personnel increased further in recent months. Since most
orders on hand are secured by firm take-off agreements, the Board of
Directors expects the inflow of funds in the coming months to lead to a
clearly positive operating cash flow. Cash outflows resulting from high
investment to expand capacity will be far lower in the second half of the
year than in the first half. In view of the good outlook at present, the
Board of Directors believes that turnaround of the Group is still a
realistic prospect for this year.
The complete interim report for the first six months of 2010 is available
at Investor Relations/Publications' on the company's website at
www.intica-systems.de.
InTiCa Systems AG
The Board of Directors
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
19.08.2010 08:01 Ad hoc announcement, Financial News and Press Release distributed by DGAP. Medienarchiv atwww.dgap-medientreff.deandwww.dgap.de---------------------------------------------------------------------------
Language: English
Company: InTiCa Systems AG
Spitalhofstraße 94
94032 Passau
Deutschland
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 Hamburg, München, Berlin, Stuttgart
End of News DGAP News-Service
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Datum: 19.08.2010 - 08:01 Uhr
Sprache: Deutsch
News-ID 32033
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