DGAP-Ad hoc: init - innovation in traffic systems AG

DGAP-Adhoc: init innovation in traffic systems AG: New revenues and profit forecast following a takeover

init innovation in traffic systems AG / Key word(s): Change in Forecast/Change in Forecast

18.07.2016 16:17

Disclosure of an inside information according to Article 17 MAR, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement.

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Karlsruhe/Berlin, 18 July 2016. init innovation in traffic systems AG (ISIN DE 0005759807) increases its 2016 targets for revenues and profit. The acquisition of further stakes in iris-GmbH infrared & intelligent sensors and the conclusion of an option agreement to acquire the remaining 25.5 per cent of the sensor specialist in 2020 have corresponding positive effects. The Managing Board now expects that init will in the current fiscal year generate revenues of EUR 106m (previous forecast: EUR 100m) and operating earnings before interest and taxes (EBIT) of more than EUR 12m (previous: EUR 8m) at group level.

INIT Innovative Informatikanwendungen in Transport-, Verkehrs- und Leitsystemen GmbH, a wholly-owned subsidiary of init innovation in traffic systems AG, has completed the acquisition of a majority stake in the sensor specialist iris-GmbH as planned. Its stake in the company increased from 49 per cent to 74.5 per cent with effect from 7 July 2016. Furthermore, an option to acquire the remaining 25.5 per cent in June 2020 was concluded.

After the acquisition, iris-GmbH will continue to operate independently and will supply both init and enhanced also other companies with its superior sensor technology.

18.07.2016 The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de

--------------------------------------------------------------------------- Language: English Company: init innovation in traffic systems AG Käppelestraße 4-10 76131 Karlsruhe Germany Phone: +49 (0)721 6100 0 Fax: +49 (0)721 6100 399 E-mail: ir@initag.de Internet: www.initag.de ISIN: DE0005759807 WKN: 575980 Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart End of Announcement DGAP News-Service ---------------------------------------------------------------------------