Lucardi chooses Star Flow Supply Chain from Yellowstar

Largest Dutch jewelry chain improves supply chain grip

Jewelry chain Lucardi improves the management of its daily order flow of jewelry and watches from suppliers from many countries. The company does so with Yellowstar’s Star Flow Supply Chain. This order and transport management platform, to be rolled out in the near future, provides real-time insight into every step in the inbound chain: from the first order, through transport, to delivery in the warehouse in The Hague. In this way the jewelry chain, together with all its chain partners, can actually control its supply chain and make proactive adjustments at any desired moment.

Lucardi is the largest jewelry chain in the Netherlands with approximately its own 125 stores and an extensive webshop. The company offers customers a hip and trendy range of jewelry and watches at an affordable price. Characteristic for the stores is the inviting open storefront and the clear presentation in glass showcases. Visitors can make their own selection from these.

100% chain transparency
Star Flow Supply Chain of Yellowstar makes the incoming flow of jewelry and watches for Lucardi fully transparent and controllable. Exchanging data in this chain will become very easy. Calling, emailing and using Excel will soon be a thing of the past. Private control towers provide both Lucardi and its chain partners 24/7 insight into the current status of orders. Exceptions and changes can always be managed proactively thanks to this 100% chain transparency. The order and transport management platform of Star Flow Supply Chain works on top of existing ERP and operational logistics systems. No adjustments are required at Lucardi and its supply chain partners.

Team of 500 Power Women in the Amstel Gold Tour

What an amazing sight to see a special team of 500 women at the start of Amstel Gold Race on Saturday 11 September 2021. ICT Group was the main sponsor of this great initiative by Leontien van Moorsel, Wendy van Dijk and Anouk Smulders.

In this team there were also a number of colleagues from ICT Group. In just two months’ time, these nine power women were trained by Leontien van Moorsel for a long ride through the Limburg hills. The Geulhemerberg, Kloosterberg, Fromberg and of course the Cauberg. Nothing stopped them from reaching the finish line.

 “We are so proud of these women”, says Carla Stuifzand, marketing director. “They have shown that with perseverance, training, fun and togetherness you can achieve anything. I invite you to meet Inge, Priya, Merle, Khushboo, Anisha, Jyotsna, Claudia, Floor and Jolijn and hear their story.”

“Just like cycling, the IT world is still mainly a man’s world”, says CEO Jos Blejie. “We are happy with the influx of women into our company and want to to offer them the opportunity to develop themselves. It was therefore a logical step for us to support the initiative.”

The sponsorship is part of ICT Group’s Go for IT! campaign, in which well-being, vitality, inclusiveness and collaboration are key.

Waterschap Brabantse Delta chooses ICT as partner for development of new water board-wide system concept Process Automation & Process Information

Rotterdam, 6 September 2021 – Last week, Waterschap Brabantse Delta (WSBD) and ICT Netherlands B.V. signed an agreement for the development of WSBD’s new PA/PI system concept, which is to take shape in the coming years. Waterschap Brabantse Delta says about this: “Together with our management partner ICT Netherlands, we are building one uniform application landscape for PA/PI within WSBD. With the goal of a manageable (controllable) future.”

Waterschap Brabantse Delta signing

The assignment expressly concerns a partnership between WSBD and ICT. This means that ICT, in consultation with WSBD, is developing a new water board-wide standard for process automation. This standard will then be implemented in so-called building blocks, with which the various locations and objects within the water system, the water chain and the waterways will be converted.

The conversion will initially take place for a single pilot environment. This will be used to test whether the system concept matches the expectations of the water board, but also whether ICT is fulfilling the role of partner in this extensive program to its satisfaction. The final rollout of the standard to all locations and objects within the water board starts after the pilot phase. Who will carry out the individual projects will be determined for each project. ICT will monitor the standard and make adjustments where necessary; we will also be responsible for managing the new objects. The expectation is that the total water board-wide transition to a new system concept will take some 10 to 15 years. ICT will provide the management for the next 15 years.

Unique assignment

ICT is very pleased with this assignment. Not only is an organization-wide implementation unique in the field of water boards, but the explicit desire to integrate process informatics into the new system concept makes this assignment unique of its kind. “We will be working on the next generation of integrated process automation and process information” says Gert Grimbergen, enterprise architect at ICT.

“We are bringing IT into the traditional domain of operational technology. The possibilities that our partners Siemens and Kisters offer in this program, both in terms of software and hardware, mean that together we can organize the management of the technical domain of the water board in a different way. Information and data analysis will play an important role in the further optimization and control of the processes. The fact that the systems must be set up uniformly with extra attention to recognizability and user-friendliness makes it extra challenging!”

H1 2021 results ICT Group

Sustained robust performance in first half 2021

Highlights H1 2021

  • Revenue was up 10% at € 89.7 million, organic revenue growth of 3%
  • EBITDA increased 19% to € 10.6 million; EBITDA margin improved to 11.9% (H1 2020: 10.9%)
  • Net profit came in at € 9.6 million (H1 2020: € 2.1 million). The increase is due to positive results and a one-off profit on the sale of minority stake in GreenFlux
  • Three acquisitions were completed in the first half: Yellowstar; Profit and Strypes Nederland and Portugal

Recommended all-cash public offer

  • On 26 July 2021 the Consortium led by NPM declared the offer unconditional
  • Upon settlement, 30 July 2021, the changes to the composition of the Supervisory Board of ICT Group, as approved by the EGM on 9 July 2021, became effective.
  • In total, including the shares tendered during the post-acceptance period, the Consortium holds 98.3% of the share capital of ICT Group
  • The last day of trading of the ICT Group shares will be on 3 September 2021

Key figures

Jos Blejie, CEO of ICT Group N.V.:
We saw the key trends continuing in the 1st half of 2021, with our nearshoring and project activities sustaining their strong performance. These developments led to an increase in revenue and EBITDA in the first half of 2021, compared to the same period in 2020 when the Covid-19 impact started to kick in, in particular in Q2 2020. Inflow of new recruits increased as mobility on the labour market picked up quite well after the Covid-19 constraints. Simultaneously, however, we saw an increase in outflow holding back our organic growth.

Now the offer on all ICT Group shares has been declared unconditional, ICT is about to conclude an important era as listed company. We would like to thank our shareholders for their support during this period in which ICT evolved into a European industrial technology solutions provider.”

Notes to the results

Performance ICT Group
In the first half of 2021 ICT Group’s revenue came in at € 89.7 million, a 10% increase compared to € 81.4 million reported in H1 2020. Organically, excluding acquisitions and divestments, revenue increased by 3%.

Personnel costs increased to € 54.6 million (H1 2020: € 49.1 million), in line with the increase in FTE’s and salary increases.

Other operating expenses increased from € 9.6 million in H1 2020 to € 11.6 million in the first half of 2021, due to continued cost containment discipline offset by higher costs related to strategic initiatives.

For the first six months of 2021 EBITDA came in at € 10.6 million, an increase of 19% compared to € 8.9 million in the comparable period in 2020. The EBITDA margin increased to 11.9% (H1 2020: 10.9%).

Performance per segment

Engineering R&D  
In this segment, ICT is active in the R&D of the industrial sectors Automotive, High Tech and Machine Building. Engineering R&D is showing a positive performance across all activities. Last year the second quarter was impacted by COVID-19, this half year there hardly was any impact.  

Industrial Automation  
In this segment Logistics, Industry and Outsourced services are the key markets for ICT. Most activities in this segment showed a favourable performance, in line with expectations. Demand from customers in the industrial sector decreased, which resulted in a decrease in revenue. Overall the productivity levels increased compared to the same period last year.  

Infra & Mobility  
In the public domain ICT focuses on services around capital assets in the area of Water, Energy, Road and Rail infrastructure as well as Mobility. The activities in the public transport segment are still experiencing an impact of COVID-19, resulting in a less positive performance compared to the  comparable period last year. 

ICT’s nearshoring entity Strypes continued the positive trend of the 2020 and continued to benefit from the increasing demand for nearshoring activities. After expanding to Plovdiv end of 2019, Strypes now also has a presence in Burgas, one of Bulgaria’s university cities. The customer base further diversified in the past six months. 

Additude showed a solid increase in productivity levels. Although the hiring activities are resulting in a good inflow of people, the outflow remains high due to the tight labour market. Therefore Additude still  has a higher than usual number of temporary staff which impacts the margins. 

As per 1 January 2021, ICT has bundled its offerings of proprietary industry specific software solutions in one cluster. Indusoft includes OrangeNXT, MOTAR, TURNN, Yellowstar and the Healthcare activities. TURNN, ICT’s Mobility as a Service activities, felt the impact of COVID-19 on the public transport sector. At OrangeNXT productivity levels are still at lower levels, MOTAR is performing according to plan. Yellowstar, acquired beginning of 2021, is contributing well, in line with expectations.  

Improve still experienced the impact of the lockdown measures on the training market. Additude Netherlands and Esprit are performing in line with expectations. 

Other financial information 

ICT has attributed a value to and is amortising several intangible assets, including order backlog, software and customer relations of its acquisitions. Amortisation in the first half of 2021 amounted to  € 3.9 million (H1 2020: € 2.6 million). Depreciation for the first half of 2021 amounted to € 3.9 million  (H1 2020: € 3.5 million).  

The result from associates amounted to a loss of € 0.3 million (H1 2020: profit of € 0.4 million). Financing expenses came in at € 0.7 million in the first six months of 2021 (H1 2020: € 0.6 million).  Taxes in the first half of 2021 amounted to € 0.5 million, at the same level as the first half of 2020.  

The net profit for the first six months of 2021 included a one-off gain of € 8.2 million following the sale of the minority stake ICT held in GreenFlux in June this year. Including this one-off gain, the net profit  for H1 2021 came in at € 9.6 million, compared to € 2.1 million in the first half of 2020. The earnings per share came in at € 0.98 (H1 2020: € 0.20). The number of outstanding ordinary shares were stable  compared to year-end 2020 and amounted to 9,697,106.  

Cash flow movement  

In the first half of the year, net operational cash flow decreased to € 4.7 million positive (H1 2020: € 6.8  million positive). The net cash position increased and amounted to € 15.6 million positive per 30 June  2021 (31 December 2020: € 13.1 million positive).  

Balance sheet  

At the end of the first half of 2021, shareholders’ equity stood at € 65.4 million (31 December 2020:  € 59.7 million). The balance sheet total increased from € 131.0 million at year-end 2020 to € 155.1  million at 30 June 2021. Solvency (shareholders’ equity/total assets) decreased to 42% at the end of  June 2021 (46% at year-end 2020), reflecting a sound financial basis. 


The acquisition of 100% of the shares of Yellowstar Solutions Holding B.V was completed on 4  January 2021. On 1 April 2021, ICT closed the acquisition of Profit Consulting Eindhoven B.V. and  Profit Consulting Apeldoorn B.V. as well as the acquisition of Strypes Nederland B.V. The latter  includes a subsidiary in Portugal, Strypes Technical Software Unipessoal LDA Portugal, which  provides ICT with a new nearshoring location.  

Changes in composition Supervisory Board 

Effective as of settlement of the offer, which occurred on 30 July 2021, Bart Coopmans, Martijn Koster and Jan-Jaap Bongers joined the Supervisory Board as members of ICT Group designated by the Consortium. Theo van der Raadt and Koen Beeckmans (recommended by the Works Council)  continue as Chairman and member of the Supervisory Board, respectively, and they, as independent members of the Supervisory Board, will especially monitor compliance with the Non-Financial Covenants. 

Revolution, the newest Endurance Racer from InMotion, revealed

Yesterday, InMotion, the TU/e student racing team, presented its Revolution: the newest Endurance Racer. ICT Group has been a partner of InMotion since 2015 and supports the team with its model-based development Production Platform Motar.

ICT has helped the student team with the development of their first electrical car: the Fusion. Thanks to Motar, ICT has developed the Electronic Control Units (ECU’s) for the complete car. Motar consists of the ECU’s hardware and platform software. The platform ensured that InMotion could develop and test software for their Fusion car which could be re-used in the car that followed; the Revolution.

Gerlach Delissen Photography

The InMotion team has done plenty of testing since the end of 2020. For example, the battery pack, the heart of this unique electric racing car, has been tested for its fast charging capabilities. Charging now takes twelve minutes. The racing car was also extensively tested at Breda International Airport. Here the first driving tests were done up to 205 kilometers per hour. These tests were done to collect valuable data and to make sure the racing car drives as stable as possible.

The fact that recharging takes only 12 minutes is a very impressive achievement. Student team InMotion is working towards the 24h of Le Mans, where they want to compete in 2023. “The team is already very proud of the performance we achieved during testing.  We think that with this car we are making a great first step in the direction of “Electric Refueling”, says the more than proud team manager Rainier Heijne. Laura van Erp, account manager at InMotion reacts to this: “ICT is a trusted partner of InMotion and we are proud to team-up with an innovation-driven company like this. Thanks to the partnership, it is possible for our Endurance racer to drive its first meters and to fast charge on the track.”

Up till now, the team has already several lap records on its name: the electric lap record on Circuit Zandvoort, Circuit Zolder and TT Circuit Assen. Koen Peppelman, ICT’s Business Unit Manager R&D Engineering Products: “We are excited to contribute to the goal of InMotion to make charging as fast and convenient as refueling. With the Revolution, InMotion is one step closer to its final goal: Le Mans in 2023. Being at forefront of many of the latest developments in the automotive industry, we successfully developed the Motar platform. The platform assists with the most complex part of innovation processes: compiling the process model into code for the embedded software. In case of InMotion, the Motar ECUs are used for the control of every electronic function in the car. We have been developing in close collaboration and Motar enables us that a lot of the developed and tested software can be reused for the team’s next cars. We cannot wait to start breaking the next records.”

ICT Group nominated for Computable Awards: vote for us!

ICT Group has been nominated for the Computable Awards 2021 in the Service Integrator category. The reason for this nomination is the won tender for the PALGA contract. Will you help us win this award? From 5 July to 10 October you can vote for us via this link. Thank you in advance for your support!

Computable Awards 2021 ICT Group

PALGA contract for ICT Group

PALGA, the Pathological-Anatomical National Automated Archive, manages a database with all pathology results of the Netherlands, as well as a computer network for data exchange with all pathology labs of the Netherlands. The existing infrastructure is intended for the exchange of orders and pathology reports between the 49 affiliated laboratories and the storage of the 85 million examination reports that the database now contains. Because the infrastructure needed replacing, a European tender was issued. This was won by ICT Group. For the general jury of the Computable Awards 2021, this was reason enough to nominate ICT Group in the Service Integrator category.

The development of the new communication service will start in December 2020. The implementation is planned from the end of 2021 and will be completed in 2023. It involves the design, implementation and management of a new communication service. The contract has a term of ten years. ICT Group was awarded the tender because they showed in their offer that they understand what the work is about and how the responsibilities should be divided..

With its Smarter Industries solutions, ICT Group provides services to the automotive, manufacturing and high-tech, food, chemical and pharmaceutical, oil and gas, and logistics industries. The Smarter Cities solutions focus on water, rail and road infrastructure, as well as public transport and mobility. The Smarter Healthcare unit provides solutions for the exchange of medical data and services and/or products in the fields of radiotherapy and obstetrics. In addition, ICT Group provides its own cloud-based software for iot, digital transformation and artificial intelligence.

Please vote for us!

Half of the opinion of the professional jury determines who will win, the other half is in the hands of the public vote. Therefore we appreciate it enormously if you want to vote for our nomination! This can be done via the voting procedure on the Computable website. After filling out a form you will receive a voting link. You can only vote once per category. Our PALGA project can be found under the category Service Integrator. Voting is possible until Sunday, October 10. The winners will be announced on November 2.


ICT Group N.V. (ICT) announces that all proposed resolutions were adopted during today’s Extraordinary General Meeting of Shareholders (EGM) in connection with the Offer made by a consortium led by NPM capital, under the condition precedent that the Offer is being declared unconditional by the Offeror.

During the EGM, the Offer was discussed. The voting items, all in relation to the Public Offer, included the Merger Resolutions, the future composition of the Supervisory Board and proposed amendments to the Articles of Association. 

Because the Merger Resolutions have been adopted, the minimum acceptance level threshold of the Offer has been lowered from 95% to 80% when the Merger Resolutions become in full force and effect as at the closing date or the postponed closing date. Reference is made to Section 6.6(a)(i) of the Offer Memorandum.  

Key next steps Public Offer

Shareholders can tender their Shares until 23 July 2021, 17.40 CEST. Within three working days following the closing date the Offeror will announce whether or not it declares the Offer unconditional.

More information can be found in the Offer Memorandum and Position Statement, which are published on the company’s website.

ICT Group N.V. is a leading European industrial technology solutions provider. Our dedicated technical professionals offer our clients services in the field of consultancy, software development,project-based solutions and IT system maintenance. It is our mission to make the world a little smarter every day.

Our specialist knowledge in a variety of industries enables us to realise innovative solutions by linking people, technologies and ideas. With approximately 1,500 dedicated technical specialists in the field, we are capable of building and integrating new and innovative technologies into relevant business solutions for our customers.

Our Industries solutions serve the automotive, manufacturing, high-tech, food, chemicals & pharma, oil & gas and logistics industries. Our Public & Infra solutions are focused on water, rail and road infrastructure as well as public transport and mobility. Across all industries ICT Group offers proprietary industry-specific software solutions, including its own cloud-based platform for IoT, digital transformation and artificial intelligence.

ICT Group N.V. is listed on Euronext Amsterdam and has a presence in the Netherlands, Belgium, Bulgaria, France, Germany, Portugal and Sweden.

For further information:

Carla Stuifzand, marketing director

+31 (0)88 908 2000, E-mail:


General restrictions

This press release contains inside information within the meaning of the EU Market Abuse Regulation(596/2014). The information in this announcement is not intended to be complete. This announcement is for information purposes only and does not constitute an offer or an invitation to acquire or dispose of any securities or investment advice or an inducement to enter into investment activity. This announcement does not constitute an offer to sell or issue or the solicitation of an offer to buy or acquire the securities of ICT Group in any jurisdiction.

The distribution of this press release may, in some countries, be restricted by law or regulation. Accordingly, persons who come into possession of this document should inform themselves of and observe these restrictions. To the fullest extent permitted by applicable law, the Consortium, the Offeror and ICT Group disclaim any responsibility or liability for the violation of any such restrictions by any person. Any failure to comply with these restrictions may constitute a violation of the securities laws of that jurisdiction. Neither ICT Group, nor the Consortium, nor Offeror, nor any of their advisers assume any responsibility for any violation by any person of any of these restrictions. Shareholders in any doubt as to their position should consult an appropriate professional adviser without delay. This announcement is not for release, publication or distribution, in whole or in part, in or into, directly or indirectly, in any jurisdiction in which such release, publication or distribution would be unlawful.

Forward-looking statements

This press release may include “forward-looking statements” such as statements relating to the impact of this transaction on the Offeror and ICT Group and language that indicates trends, such as “anticipated” and “expected”. These forward-looking statements speak only as of the date of this release. Although ICT Group and the Offeror believe that the assumptions upon which their respective financial information and their respective forward-looking statements are based are reasonable, they can give no assurance that these assumptions will prove to be correct. Forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from historical experience or from future results expressed or implied by such forward looking statements. Potential risks and uncertainties include, but are not limited to, the Offeror’s ability to achieve the anticipated results from the acquisition of the Company, the effects of competition (in particular the response to the Transaction in the marketplace), economic conditions in the global markets in which the Offeror and the Company operate, and other factors that can be found in the Offeror’s and the Company’s press releases and public filings. Neither ICT Group nor the Consortium nor the Offeror, nor any of their advisers accept any responsibility for any financial information contained in this press release relating to the business or operations or results or financial condition of the other or their respective groups. Each of the Company, the Consortium and the Offeror expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements contained herein to reflect any change in the expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.

Water Authority Brabantse Delta assigns maintenance order to ICT Group

ROTTERDAM, June 30, 2021 – ICT Group’s Managed Services unit has been awarded a contract by Water Authority Brabantse Delta for maintenance of the process automation of wastewater treatment plants (WWTPs) and sewage pumping stations. It concerns a contract for 5 years with an option for extension.

Waterschap Brabantse Delta rioolwaterzuivering
Water Authority Brabantse Delta – Waste water treatment at Nieuwveer

Preventive and corrective maintenance

The contract includes preventive maintenance, corrective maintenance and making minor changes to the local and central process automation of the WWTPs and sewage pumping stations of the water authority. Preventive maintenance is performed on the process automation so that all hardware and software components of which it is composed continue to function correctly. The goal is to prevent failures by detecting and correcting possible defects before they manifest themselves as failures. Corrective maintenance is required to restore the proper functioning of an object that has suffered a failure. It involves work that is necessary to eliminate the cause of the failure and to repair any parts that have become defective.

The repair of malfunctions relates to the entire process automation system at the sewage pumping stations and WWTPs. Among others from Scada network, the PLC network, Alert local, and link(s) to other central systems. This means that ICT Group is available 24/7 for direct support to the Water Authority in case of failures and calamities.

Water Authority Brabantse Delta

Waterschap Brabantse Delta

As a modern water authority, Brabantse Delta is the water partner for inhabitants, companies, nature and the environment in Central and West Brabant. They take integral care of sufficient surface water of good quality and safety against flooding. “Adding value to the environment. Outside Just Doing” is the vision with which they want to carry out their water tasks at the lowest possible social cost. In doing so, the water authority attaches great value to corporate social responsibility and sustainability.

Managed Services by ICT Group

Via the Managed Services business unit, ICT Group manages clients’ software and maximizes the return. Managed Services offers continuity for business-critical software solutions and ensures high availability of the software throughout its lifecycle. Primary processes always continue to function thanks to ICT’s 24/7 safety net.

ICT Group is a leading European provider of solutions for industrial technology. Its 1,500 dedicated technical professionals provide customers with high-quality services including: software development, project-based solutions, consultancy, managed services, recruitment and secondment, testing and training. With a track record of over 40 years, ICT Group has both extensive multi-domain expertise and in-depth industry knowledge. By combining these strengths with compelling technological solutions, ICT is in the unique position to help clients make their business processes more efficient, flexible, simple, secure and – as a result – more sustainable.

ICT Group nominated for Computable Awards 2021

ICT Group is nominated for the Computable Awards 2021. For the general jury the PALGA contract was the reason to nominate ICT Group in the category Service Integrator.

About the Computable Awards

Ict trade title Computable has handed out ten nominations within the Computable Awards 2021 in the category Service Integrator. People can vote as from July 5th  and the winner will be announced on November 2nd.

A group of in total 21 Computable experts has digitally assessed the 36 nominations in the category Service Integrator. Their assessment formed the basis for the general jury of the Computable Awards 2021 to choose the ten nominees. This jury team consists of Artie Debidien, Stijn Grove, Bart van der Mark, Ruud Mulder and Fred Streefland. The nominations have been tested on the distinguishing capacity of the supplier, the distinguishing capacity of the product and what makes the company special according to the submitter.

Read the jury’s report of ICT’s nomination here (Dutch only). 

ICT Group sells its minority interest in Greenflux

All shareholders in Greenflux Assets B.V. (‘Greenflux’) and Novofleet Verwaltungsgesellschaft mbH, a subsidiary of European mobility provider DKV Mobility Services (‘DKV’) signed a sale and purchase agreement with respect to all shares in Greenflux. Closing of the transaction is anticipated later this month. This cash transaction will result in a one-off net profit of approximately € 8.2 million, which will be reflected in the Q2 results.