Kapsch 2013/2014 Revenues Stagnate
Intelligent Transportation Systems (ITS) vendor Kapsch TrafficCom recently posted revenues for the 2013/2014 fiscal year of €487 million compared with €488.9 million for 2012/2013. Profit was down 83% to €2.9 million due to a one-off loss of €8.5 million related to a project in South Africa. Profits were also hit by currency losses in the South African rand. Debt increased to €93.4 million from €40.5 million. However, EBIT increased 23% to €20.3 million. As a result, in order not to compromise future growth, the executive board will recommend not to pay out a dividend for the 2013/2014 fiscal year.
Project highlights included the successful delivery of toll systems in South Africa’s Gauteng province (after a 1.5 year delay) and Belarus (first phase of a national ETC deployment). Revenues from these projects are not yet fully reflected in the 2013/2014 financial results. New orders came in from the United States, Austr...
You must be a subscriber to view this ABI Insight.
To find out more about subscribing contact a representative about purchasing options.