EANS-Adhoc: init innovation in traffic systems AG / Successful first half-year for init: Continued double-digit growth in sales and earnings

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ad-hoc disclosure pursuant to section 15 of the WpHG transmitted by euro
adhoc with the aim of a Europe-wide distribution. The issuer is solely
responsible for the content of this announcement.
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6-month report

02.08.2012

Karlsruhe, August 2, 2012. init innovation in traffic systems AG can
look back on a successful first half of 2012: Continuing double-digit
growth rates in both revenues and earnings exceeded expectations.
According to the provisional figures currently available, the init
group generated revenues of EUR 22.4 million in the second quarter.
This is 27 percent more than in the previous year (Q2 2011: EUR 17.6
million). Earnings before interest and taxes (EBIT) increased also by
more than 27 percent to EUR 4.7 million (Q2 2011: EUR 3.7 million) in
the same period.

Revenues generated by the leading provider of integrated telematics,
planning and fare collection systems for transport companies reached
a new high in the first half-year with EUR 42.1 million (previous
year: EUR 31.6 million). Likewise, EBIT increased to EUR 7.6 million
(compared to EUR 6.3 million in the first half of 2011), although the
further internationalisation of distribution, the development of new
markets and the resulting required establishment of subsidiaries
meant an increase in distribution and administration costs.

At the end of June, the net profit of EUR 5.0 million was only
slightly above that of the same period last year (EUR 4.9 million),
with the higher tax rate resulting from the fact that the majority of
tax-free benefits from the projects in the Middle East can only be
posted in the second half of 2012. Earnings per share amount to EUR
0.52 as at the end of June (previous year: EUR 0.50).

Despite the risks for the economy arising from the state debt crisis
affecting industrial countries, init's order book was not exposed to
any negative effects in 2012 to date. Taking into account the largest
order in the company's history received in July (Rheinbahn
Duesseldorf, one of the largest telematics projects for public
transport in Germany), current orders on hand increased to more than
EUR 150 million (previous year: EUR 145 million).

This covers more than 95 percent of the sales expected for 2012. For
this reason, the Managing Board of init innovation in traffic systems
AG remains confident that the sales target of more than EUR 95
million with an EBIT of surely EUR 19 million for 2012 will be
reached if no unexpected influences arise. Based on the high level of
orders on hand, the numerous current tenders and the ongoing
worldwide need for developing and modernising public transport
systems, the Managing Board also sees good conditions for continued
growth in 2013.

The detailed report on the first half-year will be published on
August 9, 2012.

Further inquiry note:
Simone Fritz
Investor Relations
Tel.: +49 (0)721/6100-115
mailto: ir@initag.de

end of announcement euro adhoc
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issuer: init innovation in traffic systems AG
Käppelestraße 6
D-76131 Karlsruhe
phone: +49(0)721 6100-0
FAX: +49(0)721 6100-399
mail: info@initag.de
WWW: http://www.initag.de
sector: Semiconductors & active components
ISIN: DE0005759807
indexes: CDAX, Prime All Share, Technology All Share
stockmarkets: free trade: Hannover, Berlin, München, Hamburg, Düsseldorf,
Stuttgart, regulated dealing/prime standard: Frankfurt
language: English