Kapsch TrafficCom / Decrease in revenues and negative EBIT in Q1 2020/21. No dividend for financial year 2019/20.. The issuer is responsible for the content of this announcement.
Disclosed inside information pursuant to article 17 Market Abuse Regulation (MAR) transmitted by euro adhoc with the aim of a Europe-wide distribution. The issuer is responsible for the content of this announcement.
Dividend Announcements/Distribution/Financial Figures/Balance Sheet 24.07.2020
Vienna - Based on preliminary numbers, Kapsch TrafficCom expects first quarter 2020/21 revenues of about EUR 138 million (previous year: EUR 186 million) and an operating result (EBIT) of about EUR -11 million (previous year: EUR 5 million).
As already communicated in the course of the presentation of the results for financial year 2019/20, the management expects that the challenges (and the respective costs) regarding the personnel shortage in North America will presumably last until the end of 2020. Furthermore, the management assumes that additional expenses for the implementation of new software will probably be incurred up to the first half of the year. These negative factors have turned out to be much more severe than expected, as the yet available results for Q1 2020/21 show.
The significantly lower revenues and earnings compared to the first quarter of the previous year are also a result of the expiry of major projects - operation of the nation-wide toll system in Czech Republic and implementation of a nation- wide toll system in Bulgaria - as well as of the tolling projects in Germany, which have been terminated in the meantime.
Already a few weeks ago, Kapsch TrafficCom initiated a cost cutting and efficiency program comprising both short-term measures and sustainable measures. It is one aim of the program to mitigate the negative factors impacting the results of the current financial year.
The final results for Q1 2020/21 will be published on August 12, 2020, as scheduled. Until then, impairment tests are performed, based on updated estimates, for various long-term assets (intangible assets including goodwill as well as property, plant and equipment).
As a result of the international COVID-19-maeasures, the visibility regarding new business is still very low. Because of this and because of the weak results for the first quarter, the Executive Board decided to refrain from the initial dividend proposal (EUR 0.25 per share) and to propose no dividend to the ordinary Annual General Meeting on September 9, 2020.
Further inquiry note: Press Contacts: Carolin Treichl Executive Vice President Marketing & Communications Kapsch TrafficCom AG Am Europlatz 2, 1120 VIENNA, AUSTRIA T +43 50 811 1710 firstname.lastname@example.org
Markus Karner Public Relations Kapsch TrafficCom AG Am Europlatz 2, 1120 VIENNA, AUSTRIA T +43 50 811 1705 email@example.com
Investor Contact: Hans Lang Investor Relations Officer Kapsch TrafficCom AG Am Europlatz 2, 1120 VIENNA, AUSTRIA T +43 50 811 1122 firstname.lastname@example.org
end of announcement euro adhoc
issuer: Kapsch TrafficCom AG Am Europlatz 2 A-1120 Wien phone: +43 50811 1122 FAX: +43 50811 99 1122 mail: email@example.com WWW: www.kapschtraffic.com ISIN: AT000KAPSCH9 indexes: stockmarkets: Wien language: English
Additional content: http://presseportal.de/pm/67102/4661587 Kapsch TrafficCom AG