Kapsch grabs Algerian assignment
A Kapsch TrafficCom AG (Kapsch) affiliate is raking in a one-digit million-Euro sum by equipping a federal railway agency in North Africa with a radio system.Kapsch CarrierCom said today (Tues) it has been assigned to deliver and set up the system on a 110-kilometre route in Algeria. The firm refused to reveal any figures, but the assignment is believed to be worth a one-digit million-Euro amount.Kapsch only recently opened a representation in the country. Ten employees are working at the Viennese technology firms office in capital Algiers.Kapsch achieved a turnover of 258.5 million Euros in the first nine months of the 2010/2011 business year, 74 per cent more than in the same time span of the previous business year. Its earnings before interest and taxes (Ebit) tripled to 23.2 million Euros, while profit dropped by 22 per cent to 16.8 million Euros.One Kapsch stock was valued at 60.61 Euros at the Vienna Stock Exchanges (WBAG) Prime Market at 3pm today, down sharply from 65.81 Euros on 28 February.