- Growth momentum maintained
Highlights H1 2018
Revenue increased 20% to € 60.9 million, 5% organic growth
Underlying EBITDA up 9% to € 5.8 million (H1 2017: € 5.3 million). Including one-off costs related to the contract termination fees at InTraffic (€ 0.8 million), EBITDA was € 5.1 million
Net profit came in at € 5.7 million (H1 2017: € 2.6 million), including one-off accounting gains of € 4.1 million related to the acquisition of InTraffic and the revaluation of ICT’s stake in GreenFlux
Acquisitions of InTraffic and NedMobiel completed
Outlook 2018: ICT expects further growth in revenue and EBITDA in the second half of 2018 compared to the first half of 2018
Key figures
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Jos Blejie, CEO of ICT Group N.V.:
“ICT Group continues its growth momentum and achieved revenue and EBITDA growth. This growth is supported by favourable market conditions and driven by the right strategic actions, positioning the company higher in the value chain. Our recent acquisitions NedMobiel and InTraffic further strengthened our offering in Smarter Cities, allowing us to serve any client in the field of mobility and infrastructure. Having achieved leading positions in Smarter Cities and Smarter Industries, our focus will now shift to strengthening our position in Smarter Health in the coming periods. Moreover, we cautiously look for international expansion in our traditional Industrial activities. Our key challenge remains attracting and retaining professionals, while keeping salary increases in balance with tariffs.”

Key figures
(in millions of €) H1 2018 H1 2017 Change
Revenue 60.9 50.7 20%
Revenue Added Value 54.5 45.2 21%
Underlying EBITDA (*) 5.8 5.3 9%
EBITDA 5.1 5.3 -5%
Amortisation / depreciation 2.3 1.7 36%
Operating result 2.8 3.7 -24%
One-off accounting gains (**) 4.1 -
Net profit 5.7 2.6 120%
(in €) Earnings per share (***) 0.59 0.27 119%

(*) excluding one-off costs related to the contract termination fees at InTraffic (€ 0.8 million)
(**) one-off accounting gains of € 4.1 million related to the acquisition of the remaining 50% stake in InTraffic (€ 3.5 million) and the revaluation of
ICT’s stake in GreenFlux (€ 0.6 million)
(***) Based on the average number of outstanding ordinary shares.

Strategy update
In January 2018 ICT completed the purchase of 100% of the shares of NedMobiel B.V., a Dutch expert consultancy company for complex infrastructures. With some 25 professionals, NedMobiel has approximately € 3 million revenues. This acquisition supports ICT’s transition from a leading software
integrator to a total technology and service provider, by increasing revenue from projects as well as from consulting services.
ICT completed the acquisition of the remaining 50% of the shares of InTraffic B.V. ICT now holds 100% of the shares of InTraffic. The acquisition of InTraffic enables ICT to further expand its position in the strategic ‘Smarter Cities’ theme. Together with the recent NedMobiel acquisition and the unit Water and Infrastructure ICT is now able to fully service Water, Rail and Road infrastructures and mobility.
InTraffic’s current margin is below ICT Group’s target margin range. In cooperation and integration, the focus will be on increasing efficiency. The objective is to bring InTraffic’s margins more in line with ICT’s overall margins. InTraffic, located in Nieuwegein, designs and builds applications for Traffic Management, Infrastructure Monitoring and Travel Information. The company was founded in 2003 as a joint venture between ICT and engineering company Movares. With 150 professionals InTraffic generates annual turnover of approximately € 19 million.

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