23.03.2017
InTiCa Systems AG DE0005874846
DGAP-News: InTiCa Systems AG publishes preliminary results for FY 2016
DGAP-News: InTiCa Systems AG / Key word(s): Preliminary Results
InTiCa Systems AG publishes preliminary results for FY 2016
23.03.2017 / 07:30
The issuer is solely responsible for the content of this announcement.
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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 gross profit increased to EUR 20.2 million in the reporting period
(2015: EUR 17.8 million) and the gross profit margin improved from 42.0% to
44.9%. EBITDA (earnings before interest, taxes, depreciation and
amortization) declined from EUR 5.2 million to EUR 5.4 million. The EBITDA
margin was 12.0% (2015: 12.2%). EBIT (earnings before interest and taxes)
was EUR 1.0 million and thus well above the prior-year level (2015: EUR 0.7
million). The EBIT margin therefore increased from 1.7% to 2.3%. The Group
more than doubled its pre-tax profit to EUR 0.6 million (2015: EUR 0.3
million).
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
TEL +49 (0) 851 - 966 92 - 0
FAX +49 (0) 851 - 966 92 - 15
EMAIL [email protected]
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 590
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. As forward-looking statements are based
exclusively on the circumstances prevailing on the date of publication we
neither intend nor assume any obligation to update these on an ongoing
basis.
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23.03.2017 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.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de
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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: [email protected]
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
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557185 23.03.2017
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