By Helgi Library - April 2, 2020
Kapsch TrafficCom's total assets reached EUR 516 mil at the end of 2014, down 9.04% compared to the previous year. ...
By Helgi Library - April 2, 2020
Kapsch TrafficCom's total assets reached EUR 516 mil at the end of 2014, down 9.04% compared to the previous year. ...
| Profit Statement | 2012 | 2013 | 2014 | |
| Sales | EUR mil | 489 | 487 | 456 |
| Gross Profit | EUR mil | 231 | 253 | 283 |
| EBITDA | EUR mil | 32.9 | 36.9 | 61.5 |
| EBIT | EUR mil | 15.3 | 20.3 | 32.7 |
| Financing Cost | EUR mil | -1.30 | 14.9 | 13.1 |
| Pre-Tax Profit | EUR mil | 16.9 | 5.49 | 19.9 |
| Net Profit | EUR mil | 9.68 | -4.30 | 3.63 |
| Dividends | EUR mil | 0 | 5.20 | 0 |
| Balance Sheet | 2012 | 2013 | 2014 | |
| Total Assets | EUR mil | 567 | 567 | 516 |
| Non-Current Assets | EUR mil | 164 | 236 | 160 |
| Current Assets | EUR mil | 403 | 330 | 355 |
| Working Capital | EUR mil | 58.6 | 200 | 205 |
| Shareholders' Equity | EUR mil | 241 | 213 | 219 |
| Liabilities | EUR mil | 327 | 354 | 296 |
| Total Debt | EUR mil | 124 | 156 | 138 |
| Net Debt | EUR mil | 45.0 | 98.3 | 41.2 |
| Ratios | 2012 | 2013 | 2014 | |
| ROE | % | 3.90 | -1.89 | 1.68 |
| ROCE | % | 4.20 | -1.30 | 0.905 |
| Gross Margin | % | 47.3 | 51.9 | 62.0 |
| EBITDA Margin | % | 6.74 | 7.57 | 13.5 |
| EBIT Margin | % | 3.12 | 4.16 | 7.18 |
| Net Margin | % | 1.98 | -0.883 | 0.795 |
| Net Debt/EBITDA | 1.37 | 2.67 | 0.669 | |
| Net Debt/Equity | 0.187 | 0.461 | 0.188 | |
| Cost of Financing | % | -1.03 | 10.7 | 8.88 |
| Valuation | 2012 | 2013 | 2014 | |
| Market Capitalisation | USD mil | 622 | 702 | 368 |
| Enterprise Value (EV) | USD mil | 682 | 838 | 418 |
| Number Of Shares | mil | 12.7 | 12.7 | 12.7 |
| Share Price | EUR | 37.0 | 40.0 | 23.9 |
| EV/EBITDA | 16.1 | 17.1 | 5.27 | |
| EV/Sales | 1.09 | 1.30 | 0.710 | |
| Price/Earnings (P/E) | 48.7 | -118 | 83.7 | |
| Price/Book Value (P/BV) | 1.96 | 2.39 | 1.39 | |
| Dividend Yield | % | 0 | 1.02 | 0 |
Get all company financials in excel:
| summary | Unit | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 |
| income statement | |||||||||||||
| Sales | EUR mil | ... | 200 | 216 | 389 | 550 | 489 | ||||||
| Gross Profit | EUR mil | ... | 122 | 118 | 197 | 263 | 231 | ||||||
| EBIT | EUR mil | ... | 29.1 | 24.5 | 49.1 | 42.3 | 15.3 | ||||||
| Net Profit | EUR mil | ... | 13.0 | 32.2 | 22.1 | 20.6 | 9.68 | ||||||
| ROE | % | ... | 9.70 | 21.3 | 12.3 | 9.20 | 3.90 | ||||||
| EBIT Margin | % | ... | 14.5 | 11.4 | 12.6 | 7.69 | 3.12 | ||||||
| Net Margin | % | ... | 6.48 | 14.9 | 5.68 | 3.75 | 1.98 | ||||||
| Employees | ... | 946 | 1,023 | 2,167 | 2,705 | 3,013 | |||||||
| balance sheet | |||||||||||||
| Total Assets | EUR mil | ... | 325 | 295 | 450 | 558 | 567 | ||||||
| Non-Current Assets | EUR mil | ... | 85.7 | 101 | 160 | 168 | 164 | ||||||
| Current Assets | EUR mil | ... | 239 | 194 | 290 | 390 | 403 | ||||||
| Shareholders' Equity | EUR mil | ... | 134 | 168 | 192 | 256 | 241 | ||||||
| Liabilities | EUR mil | ... | 190 | 127 | 259 | 301 | 327 | ||||||
| Non-Current Liabilities | EUR mil | ... | 41.4 | 37.6 | 117 | 114 | 138 | ||||||
| Current Liabilities | EUR mil | ... | 149 | 89.2 | 141 | 188 | 189 | ||||||
| Net Debt/EBITDA | ... | -0.027 | -0.888 | 0.880 | 1.36 | 1.37 | |||||||
| Net Debt/Equity | ... | -0.007 | -0.169 | 0.288 | 0.322 | 0.187 | |||||||
| Cost of Financing | % | ... | ... | 8.48 | 6.73 | 5.87 | 5.23 | -1.03 | |||||
| cash flow | |||||||||||||
| Total Cash From Operations | EUR mil | ... | 42.1 | 46.5 | -11.7 | -37.8 | 67.2 | ||||||
| Total Cash From Investing | EUR mil | ... | -44.8 | -15.3 | -60.9 | -16.7 | -9.99 | ||||||
| Total Cash From Financing | EUR mil | ... | 15.5 | -43.6 | 66.8 | 57.5 | -22.5 | ||||||
| Net Change In Cash | EUR mil | ... | 12.8 | -12.5 | -5.74 | 2.93 | 34.7 | ||||||
| valuation | |||||||||||||
| Market Capitalisation | USD mil | ... | ... | ... | ... | ... | 517 | 259 | 409 | 988 | 622 | ||
| Number Of Shares | mil | ... | ... | 11.7 | 12.2 | 12.2 | 12.2 | 12.7 | |||||
| Share Price | EUR | ... | ... | ... | ... | ... | 31.8 | 14.8 | 25.3 | 62.5 | 37.0 | ||
| Earnings Per Share (EPS) | EUR | ... | ... | 1.11 | 2.64 | 1.81 | 1.69 | 0.760 | |||||
| Book Value Per Share | EUR | ... | ... | 11.5 | 13.8 | 15.7 | 21.0 | 18.9 | |||||
| Dividend Per Share | EUR | ... | ... | 0.522 | 0.750 | 1.07 | 0.959 | 0 | |||||
| Price/Earnings (P/E) | ... | ... | ... | ... | ... | 28.6 | 5.60 | 14.0 | 37.0 | 48.7 | |||
| Price/Book Value (P/BV) | ... | ... | ... | ... | ... | 2.77 | 1.07 | 1.61 | 2.98 | 1.96 | |||
| Dividend Yield | % | ... | ... | ... | ... | ... | 1.64 | 5.07 | 4.22 | 1.53 | 0 | ||
| Earnings Per Share Growth | % | ... | ... | ... | -63.5 | 138 | -31.5 | -6.63 | -55.0 | ||||
| Book Value Per Share Growth | % | ... | ... | ... | -13.9 | 20.0 | 13.8 | 33.8 | -10.1 |
| income statement | Unit | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 |
| income statement | |||||||||||||
| Sales | EUR mil | ... | 200 | 216 | 389 | 550 | 489 | ||||||
| Cost of Goods & Services | EUR mil | ... | 78.1 | 98.0 | 191 | 287 | 258 | ||||||
| Gross Profit | EUR mil | ... | 122 | 118 | 197 | 263 | 231 | ||||||
| Staff Cost | EUR mil | ... | 54.6 | 59.7 | 86.5 | 122 | 132 | ||||||
| Other Cost | EUR mil | ... | 32.4 | 26.3 | 48.2 | 80.2 | 66.9 | ||||||
| EBITDA | EUR mil | ... | 35.1 | 32.0 | 62.7 | 60.7 | 32.9 | ||||||
| Depreciation | EUR mil | ... | 6.03 | 7.49 | 13.6 | 18.4 | 17.7 | ||||||
| EBIT | EUR mil | ... | 29.1 | 24.5 | 49.1 | 42.3 | 15.3 | ||||||
| Financing Cost | EUR mil | ... | 3.70 | 2.64 | 3.42 | 5.87 | -1.30 | ||||||
| Extraordinary Cost | EUR mil | ... | 3.49 | -22.0 | 4.39 | 0.088 | -0.327 | ||||||
| Pre-Tax Profit | EUR mil | ... | 21.9 | 43.9 | 41.3 | 36.3 | 16.9 | ||||||
| Tax | EUR mil | ... | 5.50 | 7.40 | 12.8 | 8.86 | 0.177 | ||||||
| Minorities | EUR mil | ... | 3.39 | 4.30 | 6.37 | 6.85 | 7.02 | ||||||
| Net Profit | EUR mil | ... | 13.0 | 32.2 | 22.1 | 20.6 | 9.68 | ||||||
| Dividends | EUR mil | 6.10 | 9.15 | 13.0 | 11.7 | 0 | |||||||
| growth rates | |||||||||||||
| Total Revenue Growth | % | ... | ... | 7.83 | 7.85 | 79.9 | 41.5 | -11.1 | |||||
| Operating Cost Growth | % | ... | ... | 28.0 | -1.26 | 56.6 | 50.0 | -1.74 | |||||
| EBITDA Growth | % | ... | ... | -10.2 | -8.74 | 95.8 | -3.21 | -45.7 | |||||
| EBIT Growth | % | ... | ... | -17.0 | -15.6 | 100 | -13.9 | -63.9 | |||||
| Pre-Tax Profit Growth | % | ... | ... | -48.9 | 101 | -6.03 | -12.0 | -53.5 | |||||
| Net Profit Growth | % | ... | ... | -57.3 | 148 | -31.5 | -6.63 | -53.0 | |||||
| ratios | |||||||||||||
| ROE | % | ... | 9.70 | 21.3 | 12.3 | 9.20 | 3.90 | ||||||
| ROCE | % | ... | ... | 6.84 | 17.2 | 11.1 | 9.07 | 4.20 | |||||
| Gross Margin | % | ... | 61.0 | 54.6 | 50.8 | 47.8 | 47.3 | ||||||
| EBITDA Margin | % | ... | 17.5 | 14.8 | 16.1 | 11.0 | 6.74 | ||||||
| EBIT Margin | % | ... | 14.5 | 11.4 | 12.6 | 7.69 | 3.12 | ||||||
| Net Margin | % | ... | 6.48 | 14.9 | 5.68 | 3.75 | 1.98 | ||||||
| Payout Ratio | % | ... | 47.0 | 28.4 | 58.9 | 56.8 | 0 | ||||||
| Cost of Financing | % | ... | ... | 8.48 | 6.73 | 5.87 | 5.23 | -1.03 | |||||
| Net Debt/EBITDA | ... | -0.027 | -0.888 | 0.880 | 1.36 | 1.37 |
| balance sheet | Unit | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 |
| balance sheet | |||||||||||||
| Non-Current Assets | EUR mil | ... | 85.7 | 101 | 160 | 168 | 164 | ||||||
| Property, Plant & Equipment | EUR mil | ... | 16.9 | 15.8 | 19.4 | 21.8 | 24.7 | ||||||
| Intangible Assets | EUR mil | ... | 26.1 | 28.5 | 88.7 | 80.4 | 79.2 | ||||||
| Current Assets | EUR mil | ... | 239 | 194 | 290 | 390 | 403 | ||||||
| Inventories | EUR mil | ... | 34.2 | 37.6 | 49.5 | 48.9 | 66.4 | ||||||
| Receivables | EUR mil | ... | 130 | 84.0 | 79.3 | 80.5 | 72.4 | ||||||
| Cash & Cash Equivalents | EUR mil | ... | 60.2 | 47.7 | 42.0 | 44.9 | 79.0 | ||||||
| Total Assets | EUR mil | ... | 325 | 295 | 450 | 558 | 567 | ||||||
| Shareholders' Equity | EUR mil | ... | 134 | 168 | 192 | 256 | 241 | ||||||
| Of Which Minority Interest | EUR mil | ... | 4.19 | 5.03 | 15.2 | 13.6 | 12.1 | ||||||
| Liabilities | EUR mil | ... | 190 | 127 | 259 | 301 | 327 | ||||||
| Non-Current Liabilities | EUR mil | ... | 41.4 | 37.6 | 117 | 114 | 138 | ||||||
| Long-Term Debt | EUR mil | ... | 10.1 | 10.1 | 74.1 | 74.3 | 104 | ||||||
| Deferred Tax Liabilities | EUR mil | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ||
| Current Liabilities | EUR mil | ... | 149 | 89.2 | 141 | 188 | 189 | ||||||
| Short-Term Debt | EUR mil | ... | 49.2 | 9.24 | 23.1 | 53.2 | 19.7 | ||||||
| Trade Payables | EUR mil | ... | 56.3 | 41.3 | 72.5 | 59.0 | 80.2 | ||||||
| Provisions | EUR mil | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ||
| Equity And Liabilities | EUR mil | ... | 325 | 295 | 450 | 558 | 567 | ||||||
| growth rates | |||||||||||||
| Total Asset Growth | % | ... | ... | 8.77 | -9.07 | 52.5 | 23.9 | 1.71 | |||||
| Shareholders' Equity Growth | % | ... | ... | 0.647 | 25.3 | 13.8 | 33.8 | -6.07 | |||||
| Net Debt Growth | % | ... | ... | -95.1 | 2,863 | -294 | 49.6 | -45.5 | |||||
| Total Debt Growth | % | ... | ... | 112 | -67.4 | 404 | 31.2 | -2.73 | |||||
| ratios | |||||||||||||
| Total Debt | EUR mil | ... | 59.3 | 19.3 | 97.2 | 128 | 124 | ||||||
| Net Debt | EUR mil | ... | -0.960 | -28.4 | 55.2 | 82.6 | 45.0 | ||||||
| Working Capital | EUR mil | ... | 108 | 80.2 | 56.3 | 70.4 | 58.6 | ||||||
| Capital Employed | EUR mil | ... | 194 | 182 | 216 | 238 | 223 | ||||||
| Net Debt/Equity | ... | -0.007 | -0.169 | 0.288 | 0.322 | 0.187 | |||||||
| Cost of Financing | % | ... | ... | 8.48 | 6.73 | 5.87 | 5.23 | -1.03 |
| cash flow | Unit | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 |
| cash flow | |||||||||||||
| Net Profit | EUR mil | ... | 13.0 | 32.2 | 22.1 | 20.6 | 9.68 | ||||||
| Depreciation | EUR mil | ... | 6.03 | 7.49 | 13.6 | 18.4 | 17.7 | ||||||
| Non-Cash Items | EUR mil | ... | ... | 25.6 | -21.0 | -71.3 | -62.7 | 28.1 | |||||
| Change in Working Capital | EUR mil | ... | ... | -2.55 | 27.7 | 24.0 | -14.1 | 11.7 | |||||
| Total Cash From Operations | EUR mil | ... | 42.1 | 46.5 | -11.7 | -37.8 | 67.2 | ||||||
| Capital Expenditures | EUR mil | ... | -17.5 | -3.88 | -6.36 | -10.6 | -12.7 | ||||||
| Other Investments | EUR mil | ... | -27.2 | -11.4 | -54.5 | -6.04 | 2.69 | ||||||
| Total Cash From Investing | EUR mil | ... | -44.8 | -15.3 | -60.9 | -16.7 | -9.99 | ||||||
| Dividends Paid | EUR mil | -6.10 | -9.15 | -13.0 | -11.7 | 0 | |||||||
| Issuance Of Debt | EUR mil | ... | ... | 31.3 | -40.0 | 77.9 | 30.3 | -3.48 | |||||
| Total Cash From Financing | EUR mil | ... | 15.5 | -43.6 | 66.8 | 57.5 | -22.5 | ||||||
| Net Change In Cash | EUR mil | ... | 12.8 | -12.5 | -5.74 | 2.93 | 34.7 | ||||||
| ratios | |||||||||||||
| Days Sales Outstanding | days | ... | 237 | 142 | 74.5 | 53.4 | 54.1 | ||||||
| Days Sales Of Inventory | days | ... | 160 | 140 | 94.4 | 62.1 | 94.1 | ||||||
| Days Payable Outstanding | days | ... | 263 | 154 | 138 | 75.0 | 114 | ||||||
| Cash Conversion Cycle | days | ... | 134 | 128 | 30.5 | 40.6 | 34.5 | ||||||
| Cash Earnings | EUR mil | ... | 19.0 | 39.7 | 35.7 | 39.0 | 27.4 | ||||||
| Cash Earnings Per Share | EUR | ... | ... | 1.63 | 3.25 | 2.92 | 3.20 | 2.15 | |||||
| Price/Cash Earnings (P/CE) | ... | ... | ... | ... | ... | 19.6 | 4.55 | 8.64 | 19.6 | 17.2 | |||
| Free Cash Flow | EUR mil | ... | -2.67 | 31.2 | -72.6 | -54.5 | 57.2 | ||||||
| Free Cash Flow Yield | % | ... | ... | ... | ... | ... | -0.756 | 16.7 | -23.5 | -7.67 | 11.8 |
| other data | Unit | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 |
| other data | |||||||||||||
| ROA | % | ... | 4.17 | 10.4 | 5.92 | 4.09 | 1.72 | ||||||
| Gross Margin | % | ... | 61.0 | 54.6 | 50.8 | 47.8 | 47.3 | ||||||
| Employees | ... | 946 | 1,023 | 2,167 | 2,705 | 3,013 | |||||||
| Cost Per Employee | USD per month | ... | 7,042 | 6,764 | 4,399 | 5,214 | 4,672 | ||||||
| Cost Per Employee (Local Currency) | EUR per month | ... | 4,813 | 4,863 | 3,325 | 3,750 | 3,639 | ||||||
| Staff Cost (As % Of Total Cost) | % | ... | 31.9 | 31.2 | 25.5 | 24.0 | 27.8 | ||||||
| Effective Tax Rate | % | ... | 25.1 | 16.9 | 31.1 | 24.4 | 1.05 | ||||||
| Enterprise Value (EV) | USD mil | ... | ... | ... | ... | ... | 516 | 218 | 482 | 1,095 | 682 | ||
| EV/EBITDA | ... | ... | ... | ... | ... | 10.1 | 4.90 | 5.81 | 13.0 | 16.1 | |||
| EV/Capital Employed | ... | ... | ... | ... | ... | 1.91 | 0.837 | 1.68 | 3.54 | 2.32 | |||
| EV/Sales | ... | ... | ... | ... | ... | 1.76 | 0.726 | 0.938 | 1.43 | 1.09 | |||
| EV/EBIT | ... | ... | ... | ... | ... | 12.1 | 6.39 | 7.43 | 18.6 | 34.8 | |||
| Capital Expenditures (As % of Sales) | % | ... | 8.76 | 1.80 | 1.64 | 1.94 | 2.59 | ||||||
| Revenues From Abroad | EUR mil | ... | 162 | 174 | 351 | 517 | 451 | ||||||
| Revenues From Abroad (As % Of Total) | % | ... | 81.0 | 80.6 | 90.2 | 94.0 | 92.2 | ||||||
| Sales from Road Solution Projects | EUR mil | ... | 57.0 | 46.0 | 159 | 230 | 128 | ||||||
| Sales from Services, System Extensions, Components | EUR mil | ... | 136 | 162 | 223 | 308 | 342 | ||||||
| Sales from Other Services | EUR mil | ... | 8.00 | 8.00 | 6.00 | 12.0 | 18.3 | ||||||
| EBIT from Road Solution Projects | EUR mil | ... | -2.00 | -21.0 | 0 | 4.00 | -51.7 | ||||||
| EBIT from Services, System Extensions, Components | EUR mil | ... | 32.0 | 45.0 | 48.0 | 37.0 | 67.3 | ||||||
| EBIT from Other Services | EUR mil | ... | -1.00 | 0 | 0 | 1.00 | 0.900 | ||||||
| Sales in Austria | EUR mil | ... | 38.0 | 42.0 | 38.0 | 33.0 | 38.0 | ||||||
| Sales in Europe | EUR mil | ... | 123 | 117 | 182 | 341 | 289 | ||||||
| Sales in the Americas | EUR mil | ... | 14.0 | 12.0 | 28.0 | 64.0 | 74.8 | ||||||
| Sales in the Rest Of World | EUR mil | ... | 26.0 | 45.0 | 142 | 112 | 87.0 | ||||||
| EBIT Margin - Road Solution Projects | % | ... | -3.51 | -45.7 | 0 | 1.74 | -40.4 | ||||||
| EBIT Margin - Services, System Extensions, Components | % | ... | 23.5 | 27.8 | 21.5 | 12.0 | 19.7 | ||||||
| EBIT Margin - Other Services | % | ... | -12.5 | 0 | 0 | 8.33 | 4.92 |
Get all company financials in excel:
Kapsch TrafficCom AG is an Austria-based supplier of "intelligent road traffic telematic solutions". The Company develops and sells products, systems and services primarily for electronic toll collection (ETC) systems and specializes in solutions for open road tolling (ORT), multi-lane free-flow (MLFF) and high occupancy tolling (HOT). The company is based in Vienna, Austria, but has subsidiaries and interests in more than 20 countries. Until 2009, the Company has performed 210 installations in 35 countries in Europe, Australia, North America, Latin America, Middle East, Asia Pacific and in South Africa, and about 13 million on-board units (OBUs) and over 11,300 equipped lanes. Since 2007, Kapsch TrafficCom AG has been listed on the Vienna Stock Exchange.
Kapsch TrafficCom has been growing its sales by a year on average in the last 5 years. EBITDA has grown on average by 14% a year during that time to total of EUR 61.5 mil in 2014, or 13.5% of sales. That’s compared to 11.0% average margin seen in last five years.
The company netted EUR 3.63 mil in 2014 implying ROE of 1.68% and ROCE of 0.905%. Again, the average figures were 5.03% and 4.79%, respectively when looking at the previous 5 years.
Kapsch TrafficCom’s net debt amounted to EUR 41.2 mil at the end of 2014, or 0.188 of equity. When compared to EBITDA, net debt was 0.669x, down when compared to average of 1.39x seen in the last 5 years.
Kapsch TrafficCom stock traded at EUR 23.9 per share at the end of 2014 resulting in a market capitalization of USD 368 mil. Over the previous five years, stock price grew by 61.1% or 10.0% a year on average. The closing price put stock at a 12-month trailing EV/EBITDA of 5.27x and price to earnings (PE) of 83.7x as of 2014.
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