24.04.2018
InTiCa Systems AG DE0005874846
DGAP-News: InTiCa Systems AG publishes Annual Report 2017 - Preliminary figures confirmed, further growth in the first quarter
DGAP-News: InTiCa Systems AG / Key word(s): Final Results
InTiCa Systems AG publishes Annual Report 2017 - Preliminary figures
confirmed, further growth in the first quarter
24.04.2018 / 08:30
The issuer is solely responsible for the content of this announcement.
---------------------------------------------------------------------------
Targets for fiscal 2017 met
Large scale serial production in Mexico in preparation
Increase of group sales to the range of EUR 53 million to EUR 56 million and
EBIT-margin of 3.0% to 3.5% expected for FY 2018
Passau, April 24, 2018 - InTiCa Systems AG (Prime Standard, ISIN
DE0005874846, ticker IS7) today published the annual report and confirmed
the provisional figures for fiscal 2017. InTiCa Systems AG posted a positive
business performance in 2017. Consolidated sales rose 11.5% to EUR 50.1
million and the EBIT margin improved from 2.3% to 2.9% so the company met
the targets it had set. Looking at the segments, the very good development
of the Industrial Electronics division should be highlighted. This was due
to strong demand for inverters. The high sales also enabled this segment to
report a clearly positive EBIT again. The coming quarters will show whether
this was a one-off effect. In any case, the company is working to continue
the positive trend. Despite the delayed start-up of planned serial
production at the new site in Silao, Mexico, the Automotive Technology
segment once again made a contribution to sales and earnings growth in the
reporting period.
"The establishment of the new production site can already be regarded as an
important strategic success. However, before taking the next step in our
strategy of internationalization, in 2018 we will be concentrating on
ramping up production at the new facility in Mexico and utilizing the new
capacity and opportunities. We are currently in the planning and start-up
phase for serial production of a further product on a considerably larger
scale. The customer intends to start sourcing this product in the third
quarter of 2018. The aim is for the new site to be operating profitably
shortly after production of this high-volume series starts. That gives us a
solid basis for further expansion of production in Mexico", comments Dr.
Gregor Wasle, CEO of InTiCa Systems AG the business development in FY 2017.
Earnings, asset and financial position
Group sales grew 11.5% year-on-year to EUR 50.1 million in 2017 (2016: EUR
44.9 million). The Automotive Technology segment's share of total sales was
76.2% (2016: 80.8%). The gross profit increased 9.7% to EUR 22.1 million in
the reporting period (2016: EUR 20.2 million), with the gross profit margin
slipping from 44.9% to 44.1%. EBITDA (earnings before interest, taxes,
depreciation and amortization) increased by 8.0% year-on-year to EUR 5.8
million (2016: EUR 5.4 million), corresponding with an EBITDA margin of
11.6% (2016: 12.0%). EBIT (earnings before interest and taxes) improved
41.3% year-on-year to EUR 1.5 million (2016: EUR 1.0 million), accompanied
by a rise in the EBIT margin from 2.3% to 2.9%. The Group's pre-tax profit
grew 69.3% year-on-year to EUR 1.0 million (2016: EUR 0.6 million). Tax
expense was EUR 311 thousand (2016: EUR 266 thousand), so the net profit
more than doubled compared with the previous year to EUR 0.7 million (2016:
EUR 0.3 million). Earnings per share were therefore EUR 0.17 (2016: EUR
0.08).
Regarding the financial position, InTiCa Systems was able to use the
low-interest phase to take out low-interest loans to optimize its financing
structure further and refinance long-term investment in further growth.
Together with a clearly positive operating cash flow, borrowing helped raise
the overall cash flow to EUR 1.2 million. At the same time, the equity ratio
rose slightly from 40% to 42%.
Outlook
"The positive market trend will be driven by key technologies that are
transforming the automotive sector: e-mobility, autonomous driving and
connectivity. InTiCa is able to play a part in this through significant
products and services. The rollout of alternative hybrid and electric drives
and the investments that have already been undertaken or are planned by
automotive manufacturers are of special interest to InTiCa Systems. These
market developments are being reinforced by growing political pressure on
car producers. The development and manufacture of alternative drives as a
basis for serial production will result in a considerable rise in demand for
InTiCa Systems' performance electronics and stator systems in the medium
term. This is evidenced by substantial new orders received in 2017, for
example for stators and filters for hybrid cars", comments Günther
Kneidinger, Member of the Management Board, the development in the
automotive technology segment.
Products for the photovoltaic industry such as inductive components and
mechatronic assemblies will remain the most important sales generator for
InTiCa Systems' Industrial Electronics segment in 2018. Globally, the
positive trend towards energy generation from alternative sources will
continue. The company's aim remains to participate positively in line with
the development of the market and its customers. Another area of business in
the Industrial Electronics segment is the development of actuator coils and
filter technology. There is scope to leverage synergies with the Automotive
Technology segment in the development and process know-how for both of these
fields. Development of filters, actuator coils and power electronics
components will help this segment stabilize sales or even achieve further
moderate sales growth.
Challenges in 2018 arise particularly in three areas: realization of the
investment and industrialization projects to prepare for contracts that will
generate sales revenues in subsequent years, access to raw materials in the
light of specific international shortages, resulting in longer delivery
times, and the availability of skilled personnel to meet order commitments.
Thanks to permanent optimization of corporate processes and production
workflows, InTiCa is well positioned in this respect. In addition to the
ongoing proven progress, the Board of directors sees further scope for
optimization.
At present, the Board of Directors assumes that, given a stable economic
environment and taking into account the particular challenges of 2018, Group
sales will rise to around EUR 53 million to EUR 56 million in 2018 and the
EBIT will be 3.0% to 3.5%.
The continued positive development in the first three months of 2018
confirms this view and lifted Group sales 7% year-on-year to EUR 13.2
million in the first quarter of the year (Q1 2017: EUR 12.3 million). EBITDA
is expected to be around EUR 1.4 million in the first quarter of 2018, while
EBIT should be around EUR 0.4 million.
The complete annual report 2017 is available for download from the Investor
Relations section of InTiCa Systems' website at www.intica-systems.com.
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.
---------------------------------------------------------------------------
24.04.2018 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
---------------------------------------------------------------------------
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
---------------------------------------------------------------------------
677921 24.04.2018
|
Weitere Ad-hoc und Unternehmensrelevante Mitteilungen zu
InTiCa Systems AG ISIN: DE0005874846 können Sie bei EQS abrufen
Elektrotechnik , 587484 , IS7 , XETR:IS7