Revenue grew 23% to € 31.8 million (Q3 2017: € 25.8 million), organic revenue growth of 3%
EBITDA of € 3.1 million, up 24% compared to € 2.5 million in Q3 2017
Software solutions bundled in OrangeNXT
Revenue rose 21% to € 92.7 million (9M 2017: € 76.5 million), organic revenue growth of 5%.
Underlying EBITDA of € 8.9 million (9M 2017: € 7.8 million). Including one-off costs for contract termination fees at InTraffic (€ 0.8 million), EBITDA amounted to € 8.1 million
FY 2018 underlying EBITDA forecast at between € 13 and € 14 million
Jos Blejie, CEO of ICT Group N.V.: “ICT Group continues to realise good growth while making strategic progress in becoming a leading total solutions provider. The acquisition of the remaining shares in ICT Mobile was the jumpstart for OrangeNXT in which we have bundled promising ICT Group software solutions to help our customers reap all the benefits that digital transformation has to offer. We are convinced that combining our in-depth industry knowledge with our ability to connect people, devices and data provides a unique offering. Our outlook for the fourth quarter is positive and we expect an underlying EBITDA of between € 13 and € 14 million for the full year 2018.”
Financial developments In the third quarter of 2018 revenue increased by 23% to € 31.8 million from € 25.8 million in the third quarter of 2017. Organically, i.e. excluding NedMobiel and the full consolidation of InTraffic, revenue grew 3%. For the first nine months of the year revenue amounted to € 92.7 million (9M 2017: € 76.5 million). Revenue rose 5% organically year-to-date.
EBITDA increased to € 3.1 million in the third quarter from € 2.5 million in the same period of 2017, mainly as a result of improved productivity at ICT Netherlands and recent acquisitions. The EBITDA margin was 9.7% in the third quarter, in line with 2017 (9.6%).
In the first nine months of 2018 EBITDA was up 4% compared to last year. Underlying EBITDA, i.e. excluding the one-off costs of € 0.8 million in the second quarter of 2018 relating to contract termination fees at InTraffic, increased by 14% compared to the same period last year. The resulting underlying EBITDA margin came in at 9.6% year-to-date (9M 2017: 10.2%). The positive impact of higher productivity levels at ICT Netherlands was offset by substantially lower EBITDA margins at InTraffic and lower hardware sales at BMA.
Strategic themes ICT has made clear choices in terms of growth, focusing on the strategic themes of Smarter Industries, Smarter Cities and Smarter Health. Smarter Cities realised considerable growth, mainly as a result of the acquisition of NedMobiel and the remaining stake in InTraffic. Smarter Industries posted good organic revenue growth, while revenue in Smarter Health declined as a result of lower hardware sales at BMA and lower productivity in the ICT Healthcare unit.
OrangeNXT In September 2018 ICT Group acquired the remaining 49% of the shares in ICT Mobile from its management. The software solutions provided by ICT Mobile have been housed with the solutions provided by other ICT Netherlands business units in OrangeNXT (formerly ICT Mobile), to distinguish the software as a service offerings from traditional time hire and project activities.
CIS Solutions Germany CIS Solutions is a reselling agency for LogicNets and Internet of Things solutions in Germany for which ICT Group provided loans in 2016. In the third quarter of 2018 the outstanding convertible loans were converted into shares. Combined with an additional investment, ICT Group obtained 66% of the shares in CIS Solutions Germany.
Outlook Going forward ICT Group will continue to focus on growth, both organically and through acquisitions. ICT Group continues to invest in creating a strong platform to take its transformation into a total solution provider to the next level. The battle for talent continues and attracting and retaining the right people remains a key priority.
For the full year 2018 ICT Group expects underlying EBITDA to come in at between € 13 and € 14 million.
ICT Group N.V. (ICT) announces that it has acquired the remaining 49% of the shares of ICT Mobile B.V. (ICT Mobile) from management. The software solutions of ICT Mobile together with software solutions of other business units within ICT Netherlands will be consolidated into a new entity, OrangeNXT (www.orangenxt.com), to distinct software offerings from the traditional time hire and project activities within ICT.
OrangeNXT focuses on ready to use software solutions, offered as Software as a Service. The plug-and-play cloud platform that connects people, devices and data consists of three solutions. ConNXT provides asset management and predictive maintenance solutions. MobileNXT delivers real-time tracking and tracing support for field service engineers, logistics staff, parcel delivery services and auditors. DigitalNXT helps companies to accelerate their digital transformation. The solutions of OrangeNXT are aimed at the smarter cities and smarter industries segments and cover many industries, from water management to logistics and transportation.
ICT Mobile was established as a start-up in 2016 together with the current management, Huub van der Linden and Jeroen Donkers. Both have a long track record in the Enterprise Mobility market, and will stay on board to lead OrangeNXT, together with director Alliances John Koot. The purchase consideration will be paid in cash. Further financial details will not be disclosed.
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
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.”
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.
Notes to the results
Performance ICT Group
In the first half year of 2018 ICT Group’s revenue came in at € 60.9 million, up 20% compared to € 50.7 million reported in H1 2017. The revenue growth showed a consistent trend. Organically, excluding the contribution of HTS, NedMobiel and three months full consolidation of InTraffic, revenue increased by 5%. This was mainly driven by the good performance of ICT Netherlands where project activities, especially in the area of Automotive and Water & Infra, increased substantially.
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. All underlying markets benefited from good market circumstances and have shown growth in the first half of 2018. Smarter Cities nearly doubled, due to the acquisitions of NedMobiel and InTraffic’s remaining 50% stake. Organically Smarter Cities realised 17% growth. The declining revenue in Smarter Health is a result of a delay in the delivery of foetal heart monitors at BMA and lower productivity in the ICT Healthcare unit.
Personnel costs increased significantly to € 37.4 million (H1 2017: € 31.0 million), primarily because of an increase in number of employees and salary increases.
Other operating expenses also increased to € 12.1 million (H1 2017: € 8.9 million), mainly because of the recent acquisitions. The investment levels in H1 2018 increased compared to the first half of 2017. ICT continued its increased outlays in recruitment and education. The costs related to strategic initiatives and the realisation of acquisitions and partnerships amounted to € 0.2 million (H1 2017:
€ 0.1 million). Furthermore, following the acquisition of InTraffic, one-off costs of € 0.8 million were incurred as contract termination fees. Other operating expenses also included one-off costs of € 0.4 million related to the 40-year anniversary of the company and start-up costs of € 0.2 million for ICT Belgium BVBA. Underlying EBITDA for the first six months of 2018 increased to € 5.8 million, compared to € 5.3 million in the comparable period in 2017. Including the one-off costs of € 0.8 million related to the contract termination fees at InTraffic, EBITDA decreased by 5% compared to the same period last year.
The underlying EBITDA margin decreased from 10.5% in H1 2017 to 9.5% in H1 2018. This decrease in the underlying EBITDA margin is the balanced effect of a good performance at ICT Netherlands, the substantially lower EBITDA margins at InTraffic and lower results at Raster and BMA.
Performance per segment
ICT Netherlands showed a strong performance in the first half of 2018. Revenue increased 13% to
€ 44.4 million in H1 2018 from € 39.3 million in the same period last year. The increase is the result of positive market circumstances and firm recruitment efforts which led to more FTE’s and increased productivity. Organically, revenue was up approximately 9%. EBITDA increased 31% from € 3.6 million in the first half of 2017 to € 4.7 million in H1 2018. As a result of more project activities, licences and materials sales grew significantly compared with last year.
Strypes Bulgaria (“ICT Nearshoring”) reported an increase in revenue from € 4.6 million in H1 2017 to € 4.8 million in the first six months of 2018. The investments in the organisation, mainly in quality improvement are ongoing. This resulted in an operational margin at the same level as in the first half of 2017. EBITDA came in at € 0.9 million in H1 2018 (H1 2017: € 0.9 million).
InTraffic is consolidated as of 1 April 2018 and contributed revenue of € 4.4 million in the second quarter. EBITDA included one-off costs of € 0.8 million, resulting from contract termination fees and amounted to a loss of € 0.6 million.
The segment ‘Other’ recorded revenues of € 9.1 million (H1 2017: € 7.4 million). The market for Improve was positive and the company performed in line with the first six months of 2017. For Raster the challenging market conditions in the oil and gas sector continued, which negatively impacted the company’s performance. BMA performed less compared with last year mainly due to a delay in the delivery of foetal heart monitors. NedMobiel performed in line with expectations and realised margins in line with ICT Group’s target margins in the first half of 2018.
Other financial information
Amortisation and depreciation
ICT has attributed a value to and is amortising several intangible assets, including order backlog, software and customer relations of its recent acquisitions. The amortisation for InTraffic and NedMobiel in the first half of 2018 amounted to € 0.4 million. Total amortisation in the first half of 2018 amounted to € 1.8 million (H1 2017: € 1.2 million). Depreciation for the first half of 2018 amounted to
€ 0.5 million (H1 2017: € 0.5 million).
The operating profit amounted to € 2.8 million in H1 2018 (H1 2017: € 3.7 million). As a result of lower EBITDA and higher amortization, the operating margin decreased to 4.6%, compared to H1 2017 (7.2%).
Results from joint ventures and associates
InTraffic was still reported as a joint venture in the first quarter of 2018. The results in Q1 2018 were in line with Q1 2017. The result from associates amounted to a loss of € 0.2 million (H1 2017: € 0.2 million loss), mainly attributable to GreenFlux. LogicNets achieved a break-even result in the first half of the year. CIS Solutions (Germany) developed in line with plan which resulted in a small loss in the first half of 2018.
Financing expenses increased to € 0.5 million in the first six months of 2018, from € 0.3 million in the comparable period in 2017, as a result of increased financing for the recent acquisitions and a loss on the devaluation of loans to Valuemaat that filed for bankruptcy in the first half of 2018 (€ 0.2 million).
Taxes in the first half of 2018 amounted to € 0.7 million compared with € 0.7 million in the first half of 2017.
One-off accounting gains
As a result of the acquisition of the remaining 50% in InTraffic, ICT had to recognize a one-off accounting gain of € 3.5 million, related to the revaluation of the 50% stake in InTraffic already held by ICT.
Following the investment by new shareholders in GreenFlux, ICT’s stake dilutes from 24.49% to 19.57%. As a result of the revaluation of its stake in GreenFlux, ICT realized a one-off accounting gain of € 0.6 million.
The impact of step up accounting and purchase price allocation of both transactions is explained in detail in the notes to the interim financial statements.
Net profit for the first six months of 2018 increased to € 5.7 million, compared with € 2.6 million in H1 2017. An amount of € 5.6 million is attributable to the shareholders of ICT Group N.V. (H1 2017:
€ 2.5 million). This translates into earnings per share of € 0.59 (H1 2017: € 0.27). The number of outstanding ordinary shares increased during the first half year 2018 to 9,463,878 (31 December 2017: 9,411,301) due to stock dividend.
Cash flow movement
In the first half of the year, net operational cash flow amounted to € 3.7 million positive (H1 2017: € 0.5 million negative). The net cash position per 30 June 2018 was € 2.0 million positive (31 December 2017: € 6.3 million positive). This decrease was the balanced effect of the purchase price paid for acquisitions, new financing arranged for these acquisitions, the repayments of existing acquisition financing, the payment of dividend, investments in housing facilities, and normal working capital patterns.
Balance sheet structure
In the first half of 2018, shareholders’ equity increased to € 50.4 million (31 December 2017: € 47.7 million) mainly as a result of the net effect of net profit of € 5.7 million and dividend paid of € 2.4 million. The balance sheet total increased from € 81.6 million at year-end 2017 to € 95.3 million at 30 June 2018, as a result of the acquisition of InTraffic and NedMobiel. Solvency (shareholders’ equity/total assets) stood at 52.8% at the end of June 2018 (58% at year-end 2017).
At 30 June 2018, ICT Group employs 1,199 people (1,148 FTEs), around 16% higher than at year-end 2017. The acquisitions of InTraffic and NedMobiel and ongoing recruitment efforts contributed to this increase.
ICT will continue to focus on growth, organically as well as through acquisitions. With the full consolidation of InTraffic and the acquisition of NedMobiel the company increased its size in Smarter Cities. Increasing its size in Smarter Health remains a focus point for the company. ICT will continue to be disciplined and cautious in its acquisition strategy.
ICT expects its capital expenditures and research & development expenditures to increase in 2018, in line with the increased scale of the company. ICT invests in creating a strong platform to bring the transformation into a total solution provider to the next level. The battle for talent continues and attracting and retaining the right people remains to be one of our key priorities.
Based on the above, ICT expects further growth in revenue and EBITDA in the second half of 2018 compared to the first half of 2018.
Roy Jansen (COO ICT Group) en Joost de Ruig (directeur water HNK)
Only available in Dutch
Hoogheemraadschap Hollands Noorderkwartier (HHNK) gunt het vervangen van de procesautomatisering van vijftien rioolwaterzuiveringsinstallaties (RWZI’s) aan ICT Group. HHNK koos voor ICT Group vanwege de uitstekende verhouding tussen prijs en kwaliteit.
Het huidige automatiseringssysteem van de rwzi’s van HHNK is vijftien tot twintig jaar oud en daarmee aan het einde van de technische levensduur. Hierdoor is het tevens lastig om het bestaande systeem uit te breiden met nieuwe, complexe installatieonderdelen, zoals bijvoorbeeld een fijnzeefinstallatie.
Gefaseerde aanpak Een belangrijke taak van Hoogheemraadschap Hollands Noorderkwartier (HHNK) is het transporteren en zuiveren van afvalwater. Dit wordt gedaan met behulp van rioolgemalen, rioolwaterzuiveringsinstallaties en een SlibDroogInstallatie (SDI). Deze procesinstallaties van HHNK worden bestuurd door meerdere Proces-Automatiseringsinstallaties (PA-installaties).
Er is besloten om al deze installaties gefaseerd in vijf jaar tijd te vervangen.
Een nieuw ICT-systeem biedt meerdere voordelen. Het maakt het ook makkelijker om op verschillende doelen te sturen. Denk bijvoorbeeld aan het besparen van energie terwijl het zuiveringsrendement hoog blijft. Een nieuw systeem kan ook makkelijker met andere systemen communiceren zoals onder meer peilgemalen of de gemalen van gemeenten.
Klaar voor de toekomst HHNK oordeelde dat ICT Group de cybersecurity en informatievoorziening goed op orde heeft. Daarnaast stelde het waterschap dat het bedrijf gericht is op de toekomst door de toepassing van kunstmatige intelligentie en ‘machine learning’. Het waterschap toonde ook veel waardering voor de uitgebreide beschrijving van de test- en calamiteiten procedure en het gegeven dat ICT Group zonder voorbehoud kan voldoen aan de gevraagde performance eisen.
Trots Jos Blejie, CEO ICT Group is trots dat ICT Group de opdracht heeft gekregen. “Als totaalleverancier van technologie en diensten heeft ICT een sterke positie in de watermarkt. Wij leveren altijd de hoogst haalbare toegevoegde waarde aan onze klanten.”
This yearly event is organized by Wonderware Benelux. The latest Wonderware software releases and developments in industry and infrastructure will be presented by means of practical cases, presented by system integrators as well as end users.
The Unit Industry will participate as a sponsor of the event and is present with a table top presentation. Visitors can meet and engage in conversation with the ICT Group colleagues: Bas Hazewinkel, Martin Bijl, Leendert Mijnders and Alvin Riemersma.
Revenue in Q1 up 12% to € 28.7 million (Q1 2017: € 25.6 million)
Organic revenue increase of 6%
EBITDA amounted to € 6.5 million, including a one-off accounting gain of
approx. € 3.5 million
Underlying EBITDA increased to € 3.0 million (Q1 2017: € 2.8 million).
Acquisition of NedMobiel and remaining 50% stake in InTraffic completed
(in € millions)
* including a one-off gain of approx. € 3.5 million. This one-off accounting gain is the result of the acquisition of the remaining 50% stake in InTraffic.
Jos Blejie, CEO of ICT Group N.V.:“In the first quarter of 2018 results were in line with expectations, with a good performance of ICT Netherlands. One of the highlights of the first quarter was acquiring full ownership of InTraffic. As wholly owned subsidiary, InTraffic substantially strengthens our position in Smarter Cities from Q2 onwards. We will continue to focus on the further execution of our strategy, aimed at organic growth combined with add-on acquisitions. Considering the performance in this first quarter and the continued positive market trends, we reiterate that we expect a further growth in both revenue and EBITDA for the full year 2018 compared to 2017.”
Revenue increased to € 28.7 million in the first quarter of 2018, compared to € 25.6 million in the first quarter of 2017. Organically, excluding High Tech Solutions (acquired in June 2017) and NedMobiel, revenue grew 6%. InTraffic is consolidated as of 1 April 2018. In the first quarter, InTraffic is still reported as a joint venture.
ICT Netherlands performed well, showing good productivity levels, except for the Healthcare unit, for which a large project ended in 2017. The results of Strypes Bulgaria are somewhat behind compared to last year due to slightly lower productivity in combination with ongoing outlays in quality improvement. In the segment ‘Other’, Raster is experiencing a lack of larger new projects, which is reflected in its results. We anticipate that the challenging Oil & Gas market circumstances will continue in the next two quarters.
EBITDA, excluding the one-off accounting gain, increased to € 3.0 million in the first quarter, compared to € 2.8 million in the same period of 2017.
ICT has made clear choices in terms of growth. ICT focuses on the themes Smarter Industries, Smarter Cities and Smarter Health. Within these themes ICT delivers the highest added value to its customers. Due to the acquisition of NedMobiel, Smarter Cities realised considerable growth. The declining revenue in Smarter Health is a result of flat revenue development at BMA and lower productivity in the ICT Healthcare unit.
Revenue split per theme (in € millions)
On 21 March 2018 ICT completed the acquisition of the remaining 50% of the shares of InTraffic B.V. from former joint venture partner Movares Group B.V. ICT now holds 100% of the shares of InTraffic. The acquisition resulted in a one-off accounting gain of approximately € 3.5 million, mainly related to the revaluation of the 50% stake in InTraffic already held by ICT. Except for the one-off gain, InTraffic is still reported as a joint venture in the first quarter of 2018. The impact of step up accounting and purchase price allocation will be disclosed upon publication of the 2018 half year results.
In January 2018 ICT completed the purchase of 100% of the shares of NedMobiel B.V., a Dutch expert consultancy company for complex infrastructures. 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’s management reiterates the outlook given at the announcement of the annual results in March. ICT will continue to focus on growth, preferably organically as well as through acquisitions. The focus in 2018 is on increasing the company’s size in Smarter Cities and Smarter Health. ICT will continue to be disciplined and cautious in its acquisition strategy.
ICT expects its capital expenditures and research & development expenditures to increase in 2018, in line with the increased scale of the company. With these investments ICT creates the right conditions to take additional steps in our transformation into a total solution provider. The battle for talent continues and attracting and retaining the right people remains to be one of our key priorities.
Based on the above, ICT expects a further growth in revenue and EBITDA in 2018 compared to 2017.
ICT Group N.V. (ICT) announces that it has completed the purchase of the remaining 50% of the shares of InTraffic B.V. (InTraffic) from former joint venture partner Movares Group B.V. (Movares). 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. It also supports ICT’s strategic objective to become a leading total solutions provider.
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.
InTraffic will be fully consolidated as from 22 March 2018, while ICT’s former 50% stake used to be reported as result from joint ventures. The purchase consideration for 50% of the shares will be paid in cash. Further financial details will not be disclosed.
Data System Based on LogicNets Increases Efficiency in HIV Monitoring
On Monday, February 5, 2018, the Stichting HIV Monitoring (SHM, the Dutch HIV monitoring foundation) implemented a new smart data entry and storage system. SHM developed DataCapTree with the LogicNets Medical Decision Framework, ICT Group’s decision support solution.
DataCapTree collects pseudonymized medical data of people with HIV, which are used by the foundation to monitor the course of the disease and the efficacy of the HIV treatment. SHM’s annual ‘Monitoring Report’ may prompt NVHB (Nederlandse Vereniging van hiv Behandelaren [Dutch Association of HIV-treating physicians]) to change their treatment guidelines. SHM Deputy Director Sima Zaheri is pleased with the new system: ‘The new system facilitates improved data quality, which, in turn, helps us improve our monitoring performance. We intend to use this tool to further strengthen our commitment to better care for people with HIV.’
‘We have a predefined protocol in place to guide SHM data collection staff through the data entry process. In our old system, our data collection team performed these tasks based on steps they had memorized. This dependency on their memory made the system prone to differences in interpretation and errors, resulting in time-consuming quality checks,’ says Sima Zaheri, explaining the difference between the old and the new system. ‘Our new LogicNets-based system provides our data collection staff with smart support, guiding them through a structured process. It also signals incomplete or erroneous input values, offering support every step of the way.’
Following extensive market analysis, SHM selected ICT Group’s LogicNets solution in May 2016. The deciding factors were the protocols’ modularity, the system’s decision support, integration options with other software, and flexibility. Zaheri: ‘We didn’t want to have to change systems too frequently. Our foundation is small compared to the significant costs such changes often involve. With DataCapTree we are prepared for the future.’ Our focus for the next six months will be on further implementing and fine-tuning the system. SHM’s long-term goal is to explore the world of automated data entry.
Stichting HIV Monitoring (SHM) makes an essential contribution to healthcare for HIV-positive people in the Netherlands. Working with all HIV treatment centers in the Netherlands, SHM systematically collects coded medical data from all registered HIV patients. SHM uses these data to produce center-specific reports that allow HIV treatment centers to optimize their patient care and obtain formal certification. SHM’s data also form the basis for the yearly HIV monitoring report and are used in HIV-related research in the Netherlands and internationally. The outcome of SHM’s research provides tangible input into HIV care and prevention polices in the Netherlands.For further information about SHM, please visit their website: http://www.hiv-monitoring.nl/english/
About ICT Group N.V.
ICT Group N.V. is a leading industrial technology solutions and services provider. Our specific industry knowledge of various markets, enables us to realise innovative solutions. Over 1000 passionate technical specialists are working for the ICT Group. The following subsidiaries are the main operating entities of the ICT Group: ICT Netherlands (ICT Automatisering Nederland B.V.), ICT Belgium, Strypes Bulgaria (Strypes EOOD ltd), Raster (Raster Industriele Automatisering B.V. and Raster Products B.V.), Improve (Improve Quality Services B.V.), NedMobiel B.V., BMA (Buro Medische Automatisering B.V.) (51%) and ICT Mobile B.V. (51%).
As wholly owned subsidiary InTraffic will strengthen ICT’s position in Smarter Cities
ICT Group N.V. (ICT) announces that today it has signed a letter of intent to acquire the remaining 50% of the shares in InTraffic B.V. (InTraffic) that its joint venture partner Movares Group B.V. (Movares) currently holds. Following the acquisition, ICT will hold 100% of the shares of InTraffic. Acquiring InTraffic in full will allow ICT to strengthen its position in its strategic theme ‘Smarter Cities’.
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 an annual turnover of approximately € 19 million.
Jos Blejie, CEO of ICT: “I am convinced that this intended transaction is beneficial to both InTraffic and ICT. InTraffic perfectly fits our strategy in Smarter Cities. By joining our forces, we can offer an even more compelling proposition and boost our innovation and product development in the area of Rail infrastructure and Mobility. After 15 years of working closely together with our joint venture partner Movares in the area of public transport, I am pleased that we now intend to welcome InTraffic to become part of ICT.”
Sander Eijgenraam, CEO of Movares: “InTraffic has been a strategic alliance with ICT for almost 15 years. In these years the role of IT in Rail infrastructure and Mobility changed substantially. In this change Movares considers InTraffic less strategic to its core business as consultants and engineers. After the closing of the transaction Movares and InTraffic will prolong their collaboration at its mutual main customer ProRail.”
Bert van Elburg, CEO of InTraffic: “We look forward to becoming fully part of the ICT Group. I believe this transaction is beneficial for the employees and the customers of InTraffic. Combining the strong position of InTraffic in Mobility and Rail Infrastructure with the strong position of ICT in public infrastructure will intensify the cross-fertilization and thereby strengthen our position.”
Closing of the transaction is expected end of March 2018. InTraffic will be fully consolidated as from the closing of the transaction, while currently ICT’s 50% stake is reported as result from joint ventures. The purchase consideration for 50% of the shares will be paid in cash. Further financial details will not be disclosed.
ICT Group N.V. (ICT) announces that it has completed the purchase of 100% of the shares of NedMobiel B.V., a Dutch expert consultancy company for complex infrastructures. The purchase consideration has been paid in cash.
NedMobiel has extensive expertise in (tunnel) safety, asset management and project management. NedMobiel will work closely with ICT Netherlands’ business units Water and Infrastructures and Engineering Contractors and will be able to benefit from the strong position that ICT holds in the national rail, road, water and infra sectors. 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 services.
Advertising and Social Media cookies collect information about activities of individual users. This allows third parties to display personalised adverts to you and to allow you the option to share content from this site to Social Media platforms.
By continuing to use this website you are allowing us to place these cookies. The Cookie Settings voor de ICT Group website can be changed or revoked at any time. You can reach the settings throught the Cookie Settings button as well as through the link in the footer of every page on this site.