EQS-Adhoc: autoTicket GmbH expects EUR 243 million from arbitration proceedings against the Federal Republic of Germany based on a settlement and Kapsch TrafficCom AG changes outlook for financial year 2023/24.
EQS-Ad-hoc: Kapsch TrafficCom AG / Key word(s): Scheme of Arrangement
autoTicket GmbH expects EUR 243 million from arbitration proceedings
against the Federal Republic of Germany based on a settlement and Kapsch
TrafficCom AG changes outlook for financial year 2023/24.
05-Jul-2023 / 17:07 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the
Regulation (EU) No 596/2014, transmitted by EQS News – a service of EQS
Group AG.
The issuer is solely responsible for the content of this announcement.
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Ad hoc release.
autoTicket GmbH expects EUR 243 million from arbitration proceedings
against the Federal Republic of Germany based on a settlement and Kapsch
TrafficCom AG changes outlook for financial year 2023/24.
Vienna, July 5, 2023 – The Executive Board of Kapsch TrafficCom AG (ISIN:
AT000KAPSCH9) announces that autoTicket GmbH, a joint venture of CTS
Eventim AG Co. KGaA and Kapsch TrafficCom AG, which is held in equal
shares, expects a compensation and damages payment in the amount of EUR
243 million due to a settlement agreement with the Federal Republic of
Germany to end the arbitration proceedings conducted due to the
termination of the operations contract for the collection of the
infrastructure charge („passenger car toll“).
The settlement is expected to be formally finalized and executed in the
coming days and thus becomes effective.
With the payment of the amount of EUR 243 million to autoTicket GmbH by
the Federal Republic of Germany, the reciprocal claims arising from the
operating agreement will have been settled, in particular the claims for
compensation and damages initially asserted by autoTicket GmbH against the
Federal Republic of Germany in the amount of approximately EUR 560
million. In accordance with the settlement reached, autoTicket GmbH will
have to pay, out of the amount of EUR 243 million, the winding-up and
other costs as well as expenses already incurred and future expenses, the
total amount of which cannot yet be determined, before the portion which
Kapsch TrafficCom AG is entitled to can be distributed. From today´s
perspective, Kapsch TrafficCom AG can expect an inflow of at least
approximately EUR 80 million.
In the outlook for the financial year 2023/24, the management of Kapsch
TrafficCom AG now expects a significant improvement in the operating
result (EBIT) with revenue growth in the single-digit percentage range.
Contact for further information:
Marcus Handl
Investor Relations Officer
Kapsch TrafficCom AG
Am Europlatz 2
1120 Vienna, Austria
Phone +43 50 811 1120
[1]marcus.handl@kapsch.net
Further information: [2] www.kapsch.net/ktc
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End of Inside Information
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05-Jul-2023 CET/CEST News transmitted by EQS Group AG. www.eqs.com
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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: 1673299
End of Announcement EQS News Service
1673299 05-Jul-2023 CET/CEST
References
Visible links
1. marcus.handl@kapsch.net
2. https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=25fd54bf6c0802ed7fac49ea41fcacb1&application_id=1673299&site_id=apa_ots_austria&application_name=news
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