Kapsch TrafficCom AG / AT000KAPSCH9
02.05.2024 - 10:36:38Kapsch TrafficCom AG: Sale of non-core strategic assets.
| Kapsch TrafficCom AG / Key word(s): Disposal 02.05.2024 / 10:36 CET/CEST The issuer is solely responsible for the content of this announcement. Sale of non-core strategic assets. Vienna, May 2, 2024 – Kapsch TrafficCom AG has sold assets that are not part of its strategic core business, generating total proceeds of close to EUR 11 million with full realization of variable purchase price components. Kapsch TrafficCom held 42.4% of the shares in Traffic Technology Services, Inc. (TTS), USA, a provider of technologies for intelligent transportation solutions. The entire stake was sold before the balance sheet date of March 31, 2024, which will have a positive effect of EUR 4.4 million on the financial result for the financial year 2023/24. In addition, Kapsch TrafficCom indirectly held via its subsidiary KTC-ZA Holding Proprietary Limited, South Africa, 82.9% of the shares in TMT Services and Supplies Proprietary Limited (TMT), South Africa, a provider of road safety law enforcement and automatic fare collection solutions for public transportation. All of the shares in TMT were sold after the balance sheet date of March 31, 2024, thus, the financial result for the past financial year 2023/24 is not affected. "These sales are part of the measures that, as stated in the half-year report 2023/24, should lead to cash inflows of at least EUR 30 million to further reduce our gearing ratio and are a result of the review of our Strategy 2027. In this review, we came to the conclusion that both assets are not part of the strategic core business. We would like to thank the employees of both companies and wish them every success for the future," commented Georg Kapsch, CEO of Kapsch TrafficCom AG. The effects on the key financial figures relating to TTS will be included in the report on the 2023/24 financial year, which will be published on June 19, 2024; the effects relating to TMT will be reported in the quarterly highlights for the first quarter of the 2024/25 financial year, which will be published on August 21, 2024. Kapsch TrafficCom is a globally renowned provider of transportation solutions for sustainable mobility with successful projects in more than 50 countries. Innovative solutions in the application fields of tolling, tolling services, traffic management and demand management contribute to a healthy world without congestion. With one-stop-shop-solutions, the company covers the entire value chain of customers, from components to design and implementation to the operation of systems. Kapsch TrafficCom, headquartered in Vienna, has subsidiaries and branches in more than 25 countries and is listed in the Prime Market segment of the Vienna Stock Exchange (ticker symbol: KTCG). In its 2022/23 financial year, about 4,000 employees generated revenues of EUR 553 million.
02.05.2024 CET/CEST This Corporate News was distributed by EQS Group AG. www.eqs.com |
| Language: | English |
| Company: | Kapsch TrafficCom AG |
| Am Europlatz 2 | |
| 1120 Vienna | |
| Austria | |
| Phone: | +43 50811 1122 |
| Fax: | +43 50811 99 1122 |
| E-mail: | ir.kapschtraffic@kapsch.net |
| Internet: | www.kapschtraffic.com |
| ISIN: | AT000KAPSCH9 |
| WKN: | A0MUZU |
| Listed: | Vienna Stock Exchange (Official Market) |
| EQS News ID: | 1894303 |
| End of News | EQS News Service |
| |
