Half Year Results 2017 ICT Group

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Overig advies 16/08/2017 08:18
H1 2017 RESULTS: CONTINUED ORGANIC REVENUE GROWTH
– Recent acquisitions integrated –

Highlights H1 2017
•Revenue increased 20% to € 50.7 million, 6% organic growth
•EBITDA up 28% to € 5.3 million (H1 2016: € 4.2 million)
•Net profit at € 2.6 million, an increase of 20% (H1 2016: € 2.1 million)
•Focus in H1 2017 on integration and consolidation of acquisitions
•Continued investments in the organization to support future growth
•Acquisition of high technology automation services provider HTS
•Outlook 2017: ICT expects further growth in revenue and EBITDA in the second half of 2017 compared to the first half of 2017

Jos Blejie, CEO of ICT Group N.V.: “In the past six months we have prioritized the integration of the acquisitions of the past year to safeguard a proper basis to consolidate future potential, without losing focus on driving organic growth. Nozhup, that is now fully integrated, contributes positively to the Group’s results. With our latest acquisition HTS, that will primarily service Smart Industries, we passed the milestone of 1,000 employees. With this increased group of dedicated professionals, we are fully committed to further executing the company strategy, making the world a little smarter every day. We also continued our investments in the organization, companywide, to ensure a stronger foundation on which we can further build our company. We are confident about the second half of the year and therefore expect further growth in revenue and EBITDA in the second half compared to the first half of 2017.

Strategy update

In June 2017 ICT acquired High Tech Solutions B.V. (“HTS”), a Dutch based well-respected industrial automation project and services provider. HTS employs 25 professionals on an HBO / academic level. HTS delivers consultancy services in various markets within the domain of Smarter Industries.

During the first six months of 2017 we continued our investments in new platforms and start-ups. Developments at ICT Mobile are promising and a new platform was launched together with start-up company Valuemaat.

By the end of the first half of 2017, ICT passed the mark of 1,000 employees

Notes to the results

In the first half year of 2017 ICT Group’s revenue came in at € 50.7 million, up 20% compared to € 42.1 million reported in H1 2016. The revenue growth showed a consistent trend. Organically, excluding the contribution of Nozhup and HTS, revenue increased by 6%. This was driven by an increased number of staff and productivity in line with last year.

Revenue at ICT Netherlands increased 22% to € 39.3 million in H1 2017 from € 32.3 million in the same period last year. The increase is mainly attributable to Nozhup that was acquired in September 2016, and fully integrated within ICT Netherlands in the first half of 2017. Organically, revenue was up approximately 5%. Main contributor to this organic growth was the business unit Automotive. Productivity levels were in line with last year. The average tariff increase was in line with the average salary increase. EBITDA came in at € 3.6 million in H1 2017 (H1 2016: € 2.6 million). Licences and materials sales were in line with last year.

Strypes Bulgaria (“ICT Nearshoring”) reported a 46% increase in revenue from € 3.2 million in H1 2016 to € 4.6 million in the first six months of 2017. In 2016 Strypes started to upgrade the organizational effectiveness to safeguard continued and sustainable strong growth of the nearshoring activities. In the first six months of 2017 these investments, in among others quality controls, continued and will continue in the second half. EBITDA amounted to € 0.9 million in H1 2017 (H1 2016: € 0.6 million).

The segment ‘Other’ recorded revenues of € 7.4 million (H1 2016: € 7.1 million). Improve had a slow start to the year, due to postponement of assignments. Recovery is expected in the second half of 2017. After a good 2016, in 2017 Raster experienced margin pressure as a result of more difficult market circumstances. BMA performed in line with last year.

Strategic themes

ICT’s growth strategy focuses on the themes Smarter Industries, Smarter Cities and Smarter Health. Within these themes, ICT delivers added value to its customers.
Due to the acquisitions of Nozhup and HTS growth in the themes Smarter Industries and especially Smarter Cities was higher than in the Smarter Health theme.

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https://ict.eu/nl/2017/press-release-half-year-results-2017-ict-group/

tijd 09.23
De Smallcap 1.007,58 +5,70 +0,57% ICT EUR 13,55 -35ct vol. 15.010

Pas op er is iets vreemds aan de prijsvorming de laatste tijd.(red.) zie ons commentaar van de vorige dagadviezen.

Ook vandaag weer deze veelvuldige transactie(s).
92 16/08/2017 09:12:52 CEST 13,55 1,00 Retail Matching Facility
Dit zijn geen normale inleg/transacties.
Ook het aantal 11 komt veelvuldig voor, ook nu weer. Gemaakte handel en wij vinden deze prijs te duur voor dit fonds.

Vorig jaar 56 ct per aandeel winst, Nu 70 ct in 2017 en dan is de kw ca. 20 bij gisteren. Te hoog.



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