DGAP-News: InTiCa Systems AG: Weak market conditions in the communications and industrial sectors dampened business in H1 2012

DGAPDGAP-News: InTiCa Systems AG / Key word(s): Half Year ResultsInTiCa Systems AG: Weak market conditions in the communications andindustrial sectors dampened business in H1 201221.08.2012 / 07:30--------------------------------------------------------------------- CONTACT Walter Brckl | CEO PHONE +49 (0) 851 - 966 92 - 0 FAX +49 (0) 851 - 966 92 - 15 MAIL investor.relations@intica-systems.de/Weak market conditions in the communications and industrial sectorsdampened business in H1 2012Consolidated sales decline 20% year-on-year to EUR 18.0 millionEBITDA of EUR 2.5 million is below the year-back level (H1 2011: EUR 3.2million)EBIT amounts to EUR 0.3 million (H1 2011: EUR 0.8 million)Positive net result of EUR 0.1 million (H1 2011: EUR 0.4 million)Forecasts for 2012 adjusted to the economic environmentPassau, August 21, 2012 - InTiCa Systems AG, quoted in the Prime Standardof the Frankfurt Stock Exchange (ISIN DE0005874846, Ticker IS7), todaypublishes the interim report for H1 2012. Despite the continued gooddevelopment of the Automotive Technology segment, the generally poor marketconditions prevented InTiCa Systems from repeating the previous year's goodsales and earnings figures.Earnings positionIn the first six months of 2012 Group sales dropped to EUR 18.0 million,down 20% from the year-back level of EUR 22.6 million. The AutomotiveTechnology segment reported continued strong growth, with sales up 25% atEUR 9.0 million (H1 2011: EUR 7.2 million), whereas the CommunicationTechnology and Industrial Electronics segments suffered a downturn. Salesrevenues in the Communication Technology segment fell 55% to EUR 2.5million (H1 2011: EUR 5.7 million). In the Industrial Electronics segment,sales were down 34% at EUR 6.4 million (H1 2011: EUR 9.7 million).The ratio of material costs to total output improved from 67% in H1 2011 to59% in H1 2012. However, lower sales accompanied by an only slightly lowerheadcount lifted the personnel expense ratio to 20% (H1 2011: 14%).Analogously to the drop in business volume, EBITDA slipped from EUR 3.2million to EUR 2.5 million in the first six months of 2012.Group EBIT dropped from EUR 0.8 million in H1 2011 to EUR 0.3 million in H12012. The EBIT margin declined from 3.7% in H1 2011 to 1.7%. Earnings arestill positive thanks to the Automotive Technology segment, which reportedEBIT of EUR 0.6 million in H1 2012 (H1 2011: EUR 0.5 million). TheCommunication Technology segment posted negative EBIT of minus EUR 0.3million (H1 2011: minus EUR 0.1 million). EBIT was also negative in theIndustrial Electronics segment at minus EUR 0.03 million (H1 2011: positiveat EUR 0.4 million).The financial result was minus EUR 0.25 million at the end of the first sixmonths (H1 2011: minus EUR 0.28 million). Taking into account tax income ofEUR 32 thousand (H1 2011: tax expense of EUR 171 thousand), Group netincome was EUR 0.1 million in the first half of 2012 (H1 2011: EUR 0.4million). As a result of currency translation gains of EUR 49 thousand (H12011: EUR 149 thousand) from the translation of foreign businessoperations, comprehensive income was EUR 0.1 million in the first half of2012 (H1 2011: EUR 0.5 million).The net cash flow from operating activities was EUR 1.5 million in thefirst six months of 2012 (H1 2011: cash outflow of EUR 0.9 million). Cashand cash equivalents (less overdraft facilities used) increasedconsiderably year-on-year to EUR 0.7 million (H1 2011: minus EUR 2.9million). The equity ratio increased to 56% (December 31, 2011: 52%).OutlookAs stated in the ad-hoc release of August 3, 2012, in view of thecontinuing difficult situation in the European solar industry, delays inproduct launches and ramp-ups in the automotive industry and the increasingoverall uncertainty caused by the expected deterioration of the economicsituation, especially in the euro zone, the Board of Directors nowanticipates a noticeable decline in sales and earnings performance. Despitethis, it still expects a significant improvement in the Group's liquiditysituation in the low single-digit millions.The interim report for H1 2012 is available at InvestorRelations/Publications on the company's website at www.intica-systems.de.InTiCa Systems AGThe Board of DirectorsAbout InTiCa Systems:InTiCa Systems is a European leader in the development, manufacture andcommercialization of inductive components, passive analogue switchingtechnology and mechatronic assemblies. It operates in the AutomotiveTechnology, Communication Technology and Industrial Technology segments andhas ca. 410 employees at its sites in Passau (Germany) and Prachatice(Czech Republic).The Automotive Technology segment focuses on innovative products that raisethe comfort and safety of cars, improve the performance of electric andhybrid vehicles and reduce carbon emissions. InTiCa Systems' CommunicationTechnology segment is the German market leader in splitters for thetransmission of broadband signals, while the Industrial Electronics segmentdevelops and manufactures mechatronic assemblies for the solar industry andother industrial applications.Forward-looking statements and predictionsThis press release contains statements and forecasts referring to thefuture development of InTiCa Systems AG which are based on currentassumptions and estimates by the management that are made using informationcurrently available to them. If the underlying assumptions do notmaterialize, the actual figures may differ substantially from suchestimates. Future developments and results are in fact dependent on a largenumber of factors; they contain different risks and imponderables and arebased on assumptions that may not be accurate. We neither intend nor assumeany obligation to update forward-looking statements on an ongoing basis asthese are based exclusively on the circumstances prevailing on the date ofpublication.End of Corporate News---------------------------------------------------------------------21.08.2012 Dissemination of a Corporate News, transmitted by DGAP - acompany of EquityStory AG.The issuer is solely responsible for the content of this announcement.DGAP's Distribution Services include Regulatory Announcements,Financial/Corporate News and Press Releases.Media archive at www.dgap-medientreff.de and www.dgap.de---------------------------------------------------------------------Language: EnglishCompany: InTiCa Systems AG Spitalhofstrae 94 94032 Passau GermanyPhone: 0851 / 96692 0Fax: 0851 / 96692 15E-mail: investor.relations@intica-systems.deInternet: www.intica-systems.deISIN: DE0005874846WKN: 587484Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Hamburg, Mnchen, StuttgartEnd of News DGAP News-Service---------------------------------------------------------------------182244 21.08.2012