ING AM Insurance Companies B.V. informs the board of directors of Transics International NV of its position on Tavares NV offer

In a letter addressed to the board of directors of Transics International, received on 27 April 2012, ING AM Insurance Companies B.V. notified Transics International NV that it will, given the offer price of EUR 7.10 per share, not tender its shares in the public takeover offer by Tavares NV for Transics International NV, announced on 24 April 2012. ING AM Insurance Companies B.V. owns 16.5% of the shares in Transics International NV. The board of directors of Transics International NV will further evaluate the offer of Tavares NV in accordance with its legal obligations.

Transics International, established in 1991, develops and commercialises fleet management solutions for the transport and logistics sector. Thanks to many years of experience, thorough R&D efforts and an intensive focus on the customer experience, Transics International has become the leading European player in its sector. In addition to its headquarters in Ypres (Belgium), Transics International is active throughout Europe. The company has been quoted on the stock exchange (Euronext Brussels) since June 2007.

Transics publishes Q1 2012 trading results

Q1 2012 revenues of €11.9 million, up 12.7% year-on-year

During Q1 2012, Transics generated revenues of €11.9 million, up from €10.5 million in Q1 2011, representing a year-on-year revenue increase of 12.7%. Sales in our core markets of the Benelux and France grew 11.5%, reaching €8,713k and sales in our development markets grew 16.2% to reach €3,152k.

The organic growth of the business, excluding the impact of the acquisition of the European operations of CarrierWeb and the disposal of the transport management system business (TMS/TAS), was negative or -1.2% year-on-year. Several factors explain this modest decline: the strong customer demand experienced at the very end of 2011 did not persist in Q1; customers are increasingly delaying their investment decisions causing slippage of a number of larger deals until later; and in a few specific markets, overall business activity has slowed down materially in Q1. The integration of CarrierWeb is proceeding as expected.

Business highlights

Launch of smartphone application for drivers

Transics unveiled TX-SMART on the French market at the SITL 2012 trade fair in Paris in March. TX-SMART is a new Android application that helps carriers easily exchange information with their subcontractors via smartphones. The smartphone solution, which features an intuitive user interface, is sold on a pay-per-use basis, which makes it especially appealing to carriers who only need it occasionally. The concept is simple: subcontractors’ drivers that run TX-SMART on their smartphones can easily and quickly exchange information with the dispatchers and planners in the back office of the prime carrier, as TX-SMART is fully integrated into Transics’ TX-CONNECT back office platform. TX-SMART has been presented to the Benelux market during the RAI 2012 trade fair in Amsterdam in April.

The outlook for 2012

The company expects the current market dynamics to continue in the near term. Visibility is currently low and growth in the second half is uncertain. Should our markets not deteriorate further, we expect a low single-digit growth for the full year.

Transics International NV, established in 1991, develops and commercialises fleet management solutions for the transport and logistics sector. Thanks to many years of experience, thorough R&D efforts and an intensive focus on the customer experience, Transics has become the leading European player in its sector. In addition to its headquarters in Ypres (Belgium), Transics is active throughout Europe. The company has been quoted on the stock exchange (Euronext Brussels) since June 2007.