Nine-month figures for the financial year 2008 (PR)
For the specialist and business press
Berlin, 12 November 2008
Nine-month figures for the financial year 2008
Increased revenue and very good order-book situation
Annual targets will be achieved, and in the case of revenues exceeded
IVU Traffic Technologies AG achieved very high revenues in the third quarter of the financial year 2008. The other figures were below those from the previous year. The reason is product investments in the course of large projects; these will later lead to licence earnings. The order-book situation is very good. The targets for the financial year 2008 will be achieved.
The revenue for the first nine months of the financial year 2008 exceeds that for the same period of the previous year by 2%, and by considerably more in a Q3 comparison (+13%). The main reason is the increased sales of hardware, in particular our on-board computer, which also brings with it increased material expenditure.
However, the gross profit for the third quarter is 6% lower than in the previous year, and the nine-month figure is 12% lower. EBIT and the consolidated result are also lower than the comparable figures: after nine months of the financial year 2008, EBIT was EUR 2.0 million below that for the previous year, and there was a consolidated loss of EUR 1.1 million. This is due to the additional work required for product development in order to provide for the demands of large and important customer projects, but which had not been taken into consideration in the original tender calculations, or was not fully covered by the prices which could be charged in the face of competition for orders. “We always face this risk with our projects”, says Prof. Ernst Denert, Chair of the Board of Management of IVU Traffic Technologies AG. “But this work has a value beyond the specific project for which it is carried out, because it also represents an investment in the IVU.suite and will contribute to licence earnings in future projects.”
“The predictions for the financial year 2008 remain unchanged, and we will meet our targets”, continues Ernst Denert. “And as far as revenue is concerned, IVU expects to be well above the target figure.” The order book situation is very good, not least because IVU has concluded the largest contract in the company's history to date for the development of the new public transport system in Santiago de Cali, Colombia. The first buses are expected to start operations already this year.
The full report will be available at approx. 4.00 p.m. CET at www.ivu.de.
Contact:
Renate Bader
Head of Corporate Communications
IVU Traffic Technologies AG
Bundesallee 88, 12161 Berlin
Tel: +49 30 85906-800
Fax +49 30 85906-111
E-Mail:
www.ivu.de
IVU Traffic Technologies AG is a leading supplier of IT systems for planning, operating and optimising transport and logistics processes. More than 30 years of experience developing hardware and software systems for more than 350 public transport companies has also made IVU the market leader for IT solutions in other segments: monitoring truck fleets, setting up retail networks in geo-marketing, election processing. This is IVU's approach to transportation and beyond.
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