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Kapsch TrafficCom AG: Strong growth in the first quarter of 2016/17 - Seite 2
Telematic Services spol. s r.o., the profit for the period
attributable to equity holders increased by 30%.
The results were significantly impacted by the initial consolidation
of Kapsch TrafficCom Transportation ("KTT"), the global
transportation division of Schneider Electric acquired on 1 April
2016. The total revenue of the group increased by EUR 24.9 million as
a result. The revenue contribution from KTT for the entire year is
expected to be roughly EUR 125 million - primarily in the segment
"Intelligent Mobility Solutions". However, the integration costs as
well as the profitability of KTT, which must still be improved, will
weigh down the results of the Kapsch TrafficCom Group.
For optimization of the financing structure and refinancing of the
bonds due in November 2017 (EUR 70.8 million are outstanding), Kapsch
TrafficCom obtained for the first time a borrower's note loan in the
amount of EUR 62 million plus USD 14.5 million during the first
quarter. The interest on this loan is partially fixed and partially
variable, and it encompasses three tranches for periods of five,
seven and ten years.
One disadvantage of this transaction for the equity ratio is its
effect of extending the balance sheet because of the temporary
investment of the obtained funds. Because the equity was also
burdened by the acquisition of 48% of the Czech company Kapsch
Telematic Services, the equity ratio has declined to 35%. Despite the
purchase price payments for KTT and Kapsch Telematic Services, Kapsch
TrafficCom had a net credit at the end of the quarter of EUR 15.2
million.
In terms of new orders, Kapsch TrafficCom can report on additional
successes in the first three months of the current fiscal year. For
instance, the company obtained an order for what is now the fifth
project in the Australian state of Queensland. This includes both the
delivery and operation of a toll system and has been concluded for
ten years. In the U.S.A., Kapsch TrafficCom received an order for the
modernization of the integrated transportation management systems in
the Highway Operations Center of the Massachusetts Department of
Transportation. North America certainly represents the most important
growth market for Kapsch TrafficCom. In addition to several larger
projects, an increasing volume of smaller projects is expected here.
The first quarter 2016/17 report can be downloaded from:
http://kapsch.net/ktc/investor_relations/reports
Kapsch TrafficCom is a provider of intelligent transportation systems
(ITS) in the segments of toll collection, city access control and
effect of extending the balance sheet because of the temporary
investment of the obtained funds. Because the equity was also
burdened by the acquisition of 48% of the Czech company Kapsch
Telematic Services, the equity ratio has declined to 35%. Despite the
purchase price payments for KTT and Kapsch Telematic Services, Kapsch
TrafficCom had a net credit at the end of the quarter of EUR 15.2
million.
In terms of new orders, Kapsch TrafficCom can report on additional
successes in the first three months of the current fiscal year. For
instance, the company obtained an order for what is now the fifth
project in the Australian state of Queensland. This includes both the
delivery and operation of a toll system and has been concluded for
ten years. In the U.S.A., Kapsch TrafficCom received an order for the
modernization of the integrated transportation management systems in
the Highway Operations Center of the Massachusetts Department of
Transportation. North America certainly represents the most important
growth market for Kapsch TrafficCom. In addition to several larger
projects, an increasing volume of smaller projects is expected here.
The first quarter 2016/17 report can be downloaded from:
http://kapsch.net/ktc/investor_relations/reports
Kapsch TrafficCom is a provider of intelligent transportation systems
(ITS) in the segments of toll collection, city access control and
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