euro adhoc: init innovation in traffic systems AG / quarterly or semiannual financial statement / init: Persistent growth - order volume rising to over 108 mio. EUR

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quaterly report/Figures Q1 2008

08.05.2008

init innovation in traffic systems AG is well on its way to writing
yet another successful business year. In the first quarter of 2008,
the internationally operating system supplier of transportation
telematics reported an increase in sales by 9.5 percent to 8.4 mio.
EUR (2007: 7.7 mio. EUR), winning new con-tracts totaling some 14
mio. EUR. The order volume climbed to a new record level of over 108
mio. EUR (2007: 77.8 mio. EUR) and thus fell little short of twice
the figure anticipated for 2008.

Traditionally, the first quarter is the weakest in the init fiscal
cycle in terms of sales and earnings. In 2008, the first three months
thus were dominated again by engineering services for ongoing
large-scale projects in Europe, North America and the United Arab
Emirates. Hardware deliveries will follow at a later point to
increase in the latter half of the year, resulting in
disproportionately rising sales and earnings.

In view of the scheduled implementation of these projects throughout
the year and the continuing highly dynamic growth rate, the personnel
capacities needed to be adjusted in the period under review.
Consequently, the number of employees in the group rose by 20 percent
on the previous year (210) to 251. Together with further advance
performances, the production costs in the first quarter of 2008 thus
grew at a proportionately faster rate than sales. The gross profit
decreased on the previous year from 2.7 to 1.4 mio. EUR.

At -0.8 mio. EUR (2007: 0.4 mio. EUR), the earnings before interest
and taxes (EBIT) fared as usual in the fiscal cycle of init to write
a negative figure. As a result of this and of higher taxes on income,
the first quarter ended with a loss of 1.2 mio. EUR (2007: +0.3 mio.
EUR), which corresponds to earnings per share of -0.12 EUR (2007:
+0.03 EUR). From the second quarter, and especially in the latter
half of the year, init expects to see higher sales and above-average
earnings due to the scheduled progress of the projects.

In terms of the whole year, the Managing Board continues to project
an increase in sales to around 56 mio. EUR (2007: 46.8 mio. EUR) and
an EBIT of some 8.4 mio. EUR (2007: 7.2 mio. EUR). The current level
of orders forms the basis here for further dynamic growth in 2009.

end of announcement euro adhoc
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ots Originaltext: init innovation in traffic systems AG
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:

Alexandra Weiß

Investor Relations

Telefon: +49(0)721 6100-102

E-Mail: aweiss@initag.de

Branche: Semiconductors & active components
ISIN: DE0005759807
WKN: 575980
Index: CDAX, Prime All Share, Technologie All Share
Börsen: Börse Frankfurt / regulated dealing/prime standard
Börse Berlin / free trade
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