Kapsch Rises Most Since October on Belarus Order: Vienna Mover
Kapsch TrafficCom AG (KTCG) climbed the most in almost five months after winning a 267 million-euro ($357 million) order for a toll collection system in Belarus.
Kapsch advanced 6.4 percent, the biggest rise since Oct. 5, to 63.99 euros at the 5:30 p.m. close of Vienna trading. Shares have advanced 9.3 percent this year, giving the company a market value of 831.4 million euros.
The Austrian toll-road-system developer won an order for the implementation and operation of a nationwide electronic toll collection system in Belarus.
“The total contract value for the implementation of the system reaches approximately 267 million euros, out of which 158 million euros fall upon the first two phases within the next two years,” it said in a statement today.
Separately, Kapsch said earlier today that nine-month net income increased 47 percent to 24.7 million euros as sales rose 58 percent to 408.2 million euros.
“The fourth quarter of the fiscal year 2011/12 will be marked by the acceptance of the Polish toll collection system and the continued developments in South Africa as well as other existing and potential projects,” the company said in a statement.
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