DGAP-Adhoc: InTiCa Systems AG: Negative impact on 2014 earnings caused by major Swiss customer in the solar sector filing for insolvency

InTiCa Systems AG  / Key word(s): Profit Warning

02.12.2014 15:26

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Passau, December 2, 2014 - InTiCa Systems AG, which is listed in the Prime
Standard on Frankfurt Stock Exchange (ISIN DE0005874846, Ticker IS7)
announces that it can no longer achieve the forecast issued for fiscal
2014. This is due to the direct threat of revenue shortfalls and
exceptional expenses resulting from the unexpected insolvency application
filed by one of the Industrial Electronics segment's biggest customers for
inverters, the Swiss-based company Sputnik AG with the bankruptcy
authorities in Biel, Switzerland, on November 28, 2014. The impending
shortfalls will have a negative impact on earnings in fiscal 2014.

A final assessment of the exact level of damage cannot be made at present
as this depends on the Swiss insolvency proceedings in respect of the
assets of Sputnik AG and their outcome. However, impairment losses and
write-downs of up to EUR 750,000 are probable on receivables and own work
capitalised. In addition, the insolvency affects inventories with a
carrying amount of EUR 1.8 million. The Board of Directors is currently
examining alternative internal and external uses for these inventories.

InTiCa Systems AG

The Board of Directors

CONTACT Walter Brückl | CEO
 PHONE +49 (0) 851 - 966 92 - 0
 FAX +49 (0) 851 - 966 92 - 15
 MAIL investor.relations@intica-systems.de  


About InTiCa Systems:

InTiCa Systems is a European leader in the development, manufacture and
commercialization of inductive components, passive analogue switching
technology and mechatronic assemblies. It operates in the Automotive
Technology, Communication Technology and Industrial Technology segments and
has ca. 505 employees at its sites in Passau (Germany) and Prachatice
(Czech Republic).

The Automotive Technology segment focuses on innovative products that raise
the comfort and safety of cars, improve the performance of electric and
hybrid vehicles and reduce carbon emissions. InTiCa Systems' Communication
Technology segment is the German market leader in splitters for the
transmission of broadband signals, while the Industrial Electronics segment
develops and manufactures mechatronic assemblies for the solar industry and
other industrial applications.

Forward-looking statements and predictions
This press release contains statements and forecasts referring to the
future development of InTiCa Systems AG which are based on current
assumptions and estimates by the management that are made using information
currently available to them. If the underlying assumptions do not
materialize, the actual figures may differ substantially from such
estimates. Future developments and results are in fact dependent on a large
number of factors; they contain different risks and imponderables and are
based on assumptions that may not be accurate. We neither intend nor assume
any obligation to update forward-looking statements on an ongoing basis as
these are based exclusively on the circumstances prevailing on the date of
publication.


02.12.2014 The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de

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Language:     English
Company:      InTiCa Systems AG
              Spitalhofstraße 94
              94032 Passau
              Germany
Phone:        0851 / 96692 0
Fax:          0851 / 96692 15
E-mail:       investor.relations@intica-systems.de
Internet:     www.intica-systems.de
ISIN:         DE0005874846
WKN:          587484
Listed:       Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
              in Berlin, Hamburg, München, Stuttgart
 
End of Announcement                             DGAP News-Service
 
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