DGAP-News: InTiCa Systems AG

Significant increase in EBIT margin despite expenses resulting from customer-induced delays at the facility in Mexico

Passau, March 22, 2018 - InTiCa Systems AG (Prime Standard, ISIN DE0005874846, ticker IS7) today announced provisional, unaudited figures for the 2017 financial year. While Group sales increased to over EUR 50 million and therefore came in at the upper end of the expected range, mainly due to high demand in the Industrial Electronics segment, the EBIT margin was 2.9%, in line with the forecast of around 3%. In this context, it should be noted that the profitability of the Automotive Technology segment was adversely affected by customer-induced delays in the start-up of serial production in Mexico. This was particularly evident in Automotive Technology's segment result. Overall though, it is becoming increasingly clear that the strategic focus and investments made in recent years have put the company on the right track. InTiCa Systems AG is therefore well prepared for the technological shift in key areas of business. Around 15% of revenue in the Automotive Technology segment already comes from hybrid vehicles and e-mobility.

Group sales increased 11.5% year-on-year to EUR 50.1 million (2016: EUR 44.9 million). The Automotive Technology segment grew sales 5.1% to EUR 38.1 million (2016: EUR 36.3 million). In the Industrial Electronics segment sales rose 38.1% to EUR 11.9 million (2016: EUR 8.6 million).

The gross profit improved to EUR 22.1 million in the reporting period (2016: EUR 20.2 million), but the gross profit margin slipped slightly from 44.9% to 44.1% as material costs rose faster. EBITDA (earnings before interest, taxes, depreciation and amortization) increased from EUR 5.4 million in the previous year to EUR 5.8 million. The EBITDA margin was 11.6% (2016: 12.0%). EBIT (earnings before interest and taxes) were 41.3% higher than in the previous year at EUR 1.5 million (2016: EUR 1.0 million). As a result, the EBIT margin improved from 2.3% to 2.9%. The Group's pre-tax profit was also considerably higher than in the previous year at EUR 1.0 million (2016: EUR 0.6 million).

In the 2017 financial year, the operating cash flow was EUR 3.2 million (2016: EUR 4.1 million) and the cash outflow for investing activities was EUR 4.5 million (2016: cash outflow of EUR 4.5 million). Alongside investment in intangible assets, the main focus was on building and extending the production facilities in Mexico and the Czech Republic. A further long-term loan was taken out to finance this, so the cash flow from financing activities was EUR 2.5 million (2016: EUR 1.1 million). Overall there was a total cash flow of EUR 1.2 million in the reporting period (2016: EUR 0.7 million).

Cash and cash equivalents were EUR 0.1 million as of December 31, 2017 (December 31, 2016: EUR 0.4 million). In addition, InTiCa Systems AG had overdraft facilities totalling EUR 10.35 million on the reporting date. The equity ratio was 41.9% at year end (December 31, 2016: 40.3%).

A detailed outlook for the 2018 financial year and the future development of the segments will be announced when the annual report for 2017 is published on April 24, 2018.

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 investor.relations@intica-systems.com

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.