22.03.2018
InTiCa Systems AG DE0005874846
DGAP-News: InTiCa Systems AG: Provisional figures confirm guidance for 2017
DGAP-News: InTiCa Systems AG / Key word(s): Preliminary Results
InTiCa Systems AG: Provisional figures confirm guidance for 2017
22.03.2018 / 07:30
The issuer is solely responsible for the content of this announcement.
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Sales up more than 11% year-on-year
Significant increase in EBIT margin despite expenses resulting from
customer-induced delays at the facility in Mexico
Passau, March 22, 2018 - InTiCa Systems AG (Prime Standard, ISIN
DE0005874846, ticker IS7) today announced provisional, unaudited figures for
the 2017 financial year. While Group sales increased to over EUR 50 million
and therefore came in at the upper end of the expected range, mainly due to
high demand in the Industrial Electronics segment, the EBIT margin was 2.9%,
in line with the forecast of around 3%. In this context, it should be noted
that the profitability of the Automotive Technology segment was adversely
affected by customer-induced delays in the start-up of serial production in
Mexico. This was particularly evident in Automotive Technology's segment
result. Overall though, it is becoming increasingly clear that the strategic
focus and investments made in recent years have put the company on the right
track. InTiCa Systems AG is therefore well prepared for the technological
shift in key areas of business. Around 15% of revenue in the Automotive
Technology segment already comes from hybrid vehicles and e-mobility.
Group sales increased 11.5% year-on-year to EUR 50.1 million (2016: EUR 44.9
million). The Automotive Technology segment grew sales 5.1% to EUR 38.1
million (2016: EUR 36.3 million). In the Industrial Electronics segment
sales rose 38.1% to EUR 11.9 million (2016: EUR 8.6 million).
The gross profit improved to EUR 22.1 million in the reporting period (2016:
EUR 20.2 million), but the gross profit margin slipped slightly from 44.9%
to 44.1% as material costs rose faster. EBITDA (earnings before interest,
taxes, depreciation and amortization) increased from EUR 5.4 million in the
previous year to EUR 5.8 million. The EBITDA margin was 11.6% (2016: 12.0%).
EBIT (earnings before interest and taxes) were 41.3% higher than in the
previous year at EUR 1.5 million (2016: EUR 1.0 million). As a result, the
EBIT margin improved from 2.3% to 2.9%. The Group's pre-tax profit was also
considerably higher than in the previous year at EUR 1.0 million (2016: EUR
0.6 million).
In the 2017 financial year, the operating cash flow was EUR 3.2 million
(2016: EUR 4.1 million) and the cash outflow for investing activities was
EUR 4.5 million (2016: cash outflow of EUR 4.5 million). Alongside
investment in intangible assets, the main focus was on building and
extending the production facilities in Mexico and the Czech Republic. A
further long-term loan was taken out to finance this, so the cash flow from
financing activities was EUR 2.5 million (2016: EUR 1.1 million). Overall
there was a total cash flow of EUR 1.2 million in the reporting period
(2016: EUR 0.7 million).
Cash and cash equivalents were EUR 0.1 million as of December 31, 2017
(December 31, 2016: EUR 0.4 million). In addition, InTiCa Systems AG had
overdraft facilities totalling EUR 10.35 million on the reporting date. The
equity ratio was 41.9% at year end (December 31, 2016: 40.3%).
A detailed outlook for the 2018 financial year and the future development of
the segments will be announced when the annual report for 2017 is published
on April 24, 2018.
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 600
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.
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22.03.2018 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, Dusseldorf, Hamburg, Munich,
Stuttgart, Tradegate Exchange
End of News DGAP News Service
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667101 22.03.2018
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