REVENUE GROWTH AND IMPROVEMENT IN EBITDA
SIGNIFICANT STEPS REALIZED IN EXECUTION STRATEGY
Key developments:
- Revenue in H1 2015 up 7% at € 34.6 million, mainly attributable to the acquisition of Strypes Bulgaria
- H1 2015 EBITDA improved to € 3.2 million; 9.2% of revenue (H1 2014: € 2.4 million, 7.5% of revenue)
- Acquisition of Strypes Bulgaria completed on 6 January 2015. Intensive collaboration between ICT Netherlands and Strypes Bulgaria bears fruit.
- Price Purchase Allocation on Strypes completed, intangibles identified and valued, resulting in period amortization of € 0.9 million in H1 2015
- Letter of intent signed end of June to acquire industrial systems integrator RASTER
Key figures (*)
(in millions of €)
|
H1 2015
|
H1 2014 |
Change |
| Revenu |
34.6 |
32.4 |
6.8% |
| Revenue Added Value |
31.8 |
29.2 |
8.9% |
| EBITDA from continuing operations |
3.2 |
2.4 |
33.3% |
| Amortization / depreciation |
1.1 |
0.2 |
|
| Operating result from continuing operations |
2.1 |
2.3 |
|
| Net profit from continuing operations |
1.5 |
1.7 |
|
| Result after taxes from discontinued operations |
- |
-0.7 |
|
| Net profit |
1.5 |
0.9 |
|
| (in €) |
|
|
|
| Earnings per share (**) |
0.17 |
0.11 |
|
(*) In 2014, in conformity with IFRS 5, ICT Germany classified as “Discontinued operations” following the decision to divest the operations and is presented as a separate line item in the income statement, being the total loss post tax of the German operations for the period as ‘result from discontinued operations’.
(**) Based on the average number of outstanding ordinary shares.
Jos Blejie, CEO of ICT Automatisering N.V.:
“In the first six months of this year, our focus has been on the execution of our strategy. The acquisition of near-shore company Strypes in Bulgaria is an important step in this execution. It provides us access to lower-cost quality solutions based on rapid development techniques, and a competitive edge in today’s market. Intensive collaboration between The Netherlands and Bulgaria is showing good results. The intended acquisition of RASTER that we announced end of June this year, will substantially enrich our Industrial Automation activities and will further improve ICT’s position as a total solutions provider and open up new markets and customers. These actions support us in creating a stable platform from which we can further roll out our strategy and can grow our business sustainable. Although in the first half of 2015 ICT Netherlands was confronted with a slowdown in demand in the markets served by industrial automation, we do envisage a recovery of demand in the second half of 2015.”