Key Developments in first quarter:
- Revenue in Q1 2015 up 7% at € 17.1 million, fully attributable to the acquisition of Strypes Bulgaria.
- Q1 2015 operating result improved € 0.2 million to € 1.3 million.
- Acquisition of Strypes Bulgaria completed on January 6th.
Key figures (*)
| (in millions of €) |
Q1 2015 |
Q1 2014 |
D |
| Revenu |
17.1 |
16.0 |
+ 7.3% |
| Operating result from ordinary operations |
1.5 |
1.4 |
|
| Exceptional charges (**) |
0.2 |
0.3 |
|
| Operating result |
1.3 |
1.1 |
|
(*) Q1 2015 figures includes the figures of Strypes Bulgaria (consolidated as from the beginning of January). Q1 2014 figures are restated for ICT Germany regarding discontinued operations (IFRS 5).
(**) This concerns corporate development expenses related to the consideration of strategic options, such as the acquisition of Strypes Bulgaria.
Financial developments
ICT Automatisering (ICT)’s revenue in the first quarter of 2015 was € 17.1 million compared to € 16.0 million in the first quarter of 2014. This increase was fully attributable to the acquisition of Strypes Bulgaria. Excluding Strypes Bulgaria, revenue was in line with last year.
The operating result amounted to € 1.3 million in the first quarter, compared with € 1.1 million in the same period of 2014. Strypes Bulgaria contributed to this improvement with positive results in line with expectations. This improvement was partly off-set by lower than expected project results in the Netherlands.
Operational developments
All organisational entities managed to record positive results. Machine & Systems, Logistics and Automotive performed in line with expectations. Industrial Automation is confronted with postponement of projects in combination with lower than expected secondment demand from customers.
Improve Quality Services
According to the original contract ICT agreed to acquire the remaining 10% of Improve in January 2015. ICT completed its acquisition of the remaining shares of Improve Quality Services BV and now owns 100% of the company. Improve Quality Services realized positive results in line with expectations.
Outlook
ICT continues to execute its strategy offering innovative and effective product/market solutions, enriched with state-of-the-art technology, combining autonomous growth with growth through acquisitions. ICT expects for 2015 a further improvement in the operating profit compared with 2014 (operating profit from continuing operations).