Stichting HIV Monitoring neemt slim datasysteem van ICT Group in gebruik

Datasysteem op basis van LogicNets draagt bij aan efficiëntere monitoring van hiv

Stichting HIV Monitoring (SHM) heeft op maandag 5 februari 2018 een nieuw, slim data-invoer- en opslagsysteem in gebruik genomen. SHM bouwde de zogeheten DataCapTree met LogicNets Medical Decision Framework, de beslissingsondersteuningsoplossing van ICT Group.

DataCapTree verzamelt gepseudonimiseerde medische gegevens van hiv-patiënten. Deze worden door de stichting gebruikt voor de monitoring van het ziektebeloop en de effectiviteit van de behandeling van hiv. Het jaarlijkse ‘Monitoring Report’ van SHM kan voor NVHB (Nederlandse Vereniging van hiv Behandelaren) aanleiding geven om de behandelrichtlijnen aan te passen. Sima Zaheri, adjunct-directeur van SHM is blij met de ingebruikname: ‘Door het systeem verbetert de kwaliteit van onze data en dus van onze monitoring. Daarmee hopen we een nog grotere bijdrage te leveren aan betere zorg voor hiv-patiënten.’

Dataverzamelaars van Stichting HIV Monitoring worden middels een vooraf gedefinieerd protocol op de juiste wijze stap voor stap door het invoerproces geleid. ‘In ons oude systeem zaten deze stappen in de hoofden van onze dataverzamelaars. De grote afhankelijkheid van de dataverzamelaar maakte het systeem gevoelig voor interpretatieverschillen en fouten. Kwaliteitscontroles kostten daardoor veel tijd’, legt Sima Zaheri het verschil met het nieuwe systeem uit. ‘Ons nieuwe systeem op basis van LogicNets ondersteunt de dataverzamelaar op een slimme manier. Het leidt hen gestructureerd door het proces. Daarnaast geeft het een waarschuwing wanneer invoerwaarden ontbreken of onjuist zijn; het systeem denkt dus met de dataverzamelaars mee.’

Na uitgebreid marktonderzoek koos SHM in mei 2016 voor de LogicNets-oplossing van ICT Group. Doorslaggevend waren de moduleerbaarheid van de protocollen, de beslisondersteuning, integratiemogelijkheden met andere software en de flexibiliteit. Zaheri: ‘We wilden niet te vaak van systeem hoeven te veranderen, want we zijn een kleine stichting en zulke ingrepen vragen een grote investering. Met DataCapTree zijn we klaar voor de toekomst.’ Het komende half jaar ligt de prioriteit van de stichting op het verder uitrollen en finetunen van het systeem. SHM heeft op langere termijn de ambitie om te experimenteren met geautomatiseerde data-invoer.

Stichting HIV Monitoring (SHM) is in 2001 opgericht en is door het Ministerie van Volksgezondheid, Welzijn en Sport aangewezen als de instantie die de registratie en monitoring van mensen met hiv in Nederland. SHM streeft naar het volledig in kaart brengen van de hiv-epidemie in Nederland om daarmee een bijdrage te leveren aan de kennis over hiv. In samenwerking met alle hiv-behandelcentra in het land heeft SHM een solide raamwerk opgezet om gegevens over hiv systematisch te verzamelen en de langetermijn follow-up van alle geregistreerde mensen vast te leggen. Nederland is het enige land ter wereld met een dergelijke registratie, wat zorgverleners in staat stelt de hoogst mogelijke kwaliteit van hiv-zorg na te streven.

Naast de nationale rapportages beschikken zorgverleners ook over centrum-specifieke rapportages om de door hen verleende zorg te monitoren en verder te optimaliseren. Daarnaast worden SHM-data ook op verzoek beschikbaar gesteld voor hiv-gerelateerd onderzoek binnen en buiten Nederland. Uitkomsten van SHM’s onderzoek en internationale samenwerkingen leveren tastbare bijdragen aan hiv-behandelrichtlijnen en leiden tot verbetering van de hiv-zorg in Nederland.

ICT Group wil overige 50% aandelen in InTraffic overnemen van joint-venturepartner Movares

Vertaling van Engelse versie. Engelse versie is leidend.

Als 100%-dochteronderneming gaat InTraffic de positie van ICT in Smarter Cities versterken

ICT Group N.V. (ICT) kondigt vandaag de ondertekening aan van de intentieverklaring tot overname van de resterende 50% aandelen in InTraffic B.V. (InTraffic) die nu nog in bezit zijn van joint-venturepartner Movares Group B.V. (Movares). Na de overname bezit ICT 100% van de aandelen van InTraffic. Met de volledige overname van InTraffic versterkt ICT zijn positie in het strategische thema ‘Smarter Cities’.

InTraffic, dat gevestigd is in Nieuwegein, ontwerpt en bouwt applicaties voor Traffic Management, Infrastructure Monitoring en Travel Information. De onderneming werd opgericht in 2003 als een joint venture van ICT en ingenieursbureau Movares. Met 150 professionals genereert InTraffic een jaaromzet van ongeveer € 19 miljoen.

Jos Blejie, CEO van ICT Group: “Ik ben ervan overtuigd dat deze transactie goed is voor zowel InTraffic als ICT. InTraffic sluit perfect aan bij onze strategie voor Smarter Cities. Door onze krachten te bundelen kunnen we onze positie versterken en onze innovatie en productontwikkeling op het gebied van railinfrastructuur en mobiliteit verder verbeteren. Na 15 jaar nauwe samenwerking met onze joint-venturepartner Movares op het gebied van openbaar vervoer ben ik zeer verheugd over ons streven om InTraffic onderdeel te maken van ICT.”

Sander Eijgenraam, CEO van Movares: “ICT heeft al bijna 15 jaar een strategisch samenwerkingsverband met InTraffic. In die jaren is de rol van IT bij railinfrastructuur en mobiliteit sterk veranderd. Door die verandering is InTraffic nu voor Movares van minder strategisch belang voor onze kernactiviteiten als consultants en ingenieurs. Na afronding van de transactie zullen Movares en InTraffic de samenwerking bij ProRail als belangrijkste klant van beide partijen voortzetten.”

Bert van Elburg, CEO van InTraffic: “We kijken uit naar de volledige overname door ICT Group. Ik denk dat deze transactie voordelen met zich meebrengt voor de werknemers en de klanten van InTraffic. De combinatie van de sterke positie van InTraffic in mobiliteit en railinfrastructuur en die van ICT in openbare infrastructuur heeft een positief effect op beide partijen en zal de positie verder versterken.”

Naar verwachting zal de transactie eind maart 2018 worden afgerond. Vanaf dat moment wordt InTraffic volledig geconsolideerd. Het huidige belang van 50% van ICT zal worden gerapporteerd als resultaat uit joint ventures. De koopsom voor de 50% van de aandelen wordt betaald in cash. Er worden geen nadere financiële details over deze transactie bekendgemaakt.

ICT Group completes acquisition of NedMobiel

Only available in English

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.

ICT Group nominates Gina van der Werf for appointment to the Supervisory Board

Only available in English

ICT Group N.V. (ICT) today announces the nomination of Mrs. Gina van der Werf for appointment as member of the Supervisory Board of ICT Group. Her nomination made by the Supervisory Board will be on the agenda of the Annual General Meeting of Shareholders of ICT Group on 9 May 2018. Gina van der Werf is CEO of First Dutch Innovations and has the Dutch nationality. Mr. Jan Sinoo, whose second term ends on 9 May 2018, will not be available for re-election.

Gina van der Werf (46) is CEO of First Dutch Innovations, a multinational company active in the TIC-sector (Testing, Inspection and Certification), Metrology and in Life Sciences. In the past she was Chairman of the Management Board of Priority Telecom NV after corporate positions within the Liberty Global. She also held several Supervisory Board positions within the IT sector and within the Noordelijke Hoge School Leeuwarden (NHL). She holds a degree in Corporate Law and International Organisations from the University of Groningen.

Theo van der Raadt, chairman of the Supervisory Board of ICT Group: “We are very pleased to nominate Gina van der Werf for appointment to the Supervisory Board. With her broad and international management experience and extensive background in the tech sector she will be a valuable addition to our Supervisory Board. I am convinced that ICT Group will benefit from her involvement in developing innovative companies and promoting entrepreneurship. At the same time, I would like to thank Jan Sinoo for his valuable contribution over the past eight years in which ICT made significant steps forward.”

Gina van der Werf will be nominated for appointment for a period of four years until the AGM in 2022. The nomination for appointment will be made under the condition that the general meeting does not make use of its right of recommendation. After her appointment, ICT Group’s Supervisory Board will consist of the following members: Theo van der Raadt (Chairman), Deepak Luthra, Fritz Fröschl and Gina van der Werf. Mrs. van der Werf will become chair of the Remuneration and Appointment committee.

ICT Group intends to acquire NedMobiel

ICT Group N.V. (ICT) announces that it has signed a letter of intent to acquire 100% of the shares of NedMobiel B.V., a Dutch based expert consultancy company for complex infrastructures, such as tunnels, bridges, water locks, motorways and mobility solutions. The fields of expertise of NedMobiel include (tunnel) safety, asset management and project management. The highly educated and experienced advisors and project managers cover the full spectrum from strategy to operations.

NedMobiel, based in Breda, was founded in 2006. The team of 27 professionals has various engineering disciplines and backgrounds such as civil engineering, safety, mechanical & electrical engineering. All consultants and project managers have either a bachelor or master degree.

Jos Blejie, CEO of the ICT Group, stated: “We are very pleased with the intended acquisition of NedMobiel. The expertise of ICT and NedMobiel is fully complementary and we believe that the highly educated and experienced professionals of NedMobiel will fit perfectly within the existing ICT Group culture. NedMobiel will work closely with ICT’s business unit Engineering Contractors and will be able to benefit from the strong position that ICT holds in the national rail, road, water and infrasectors.”

NedMobiel has approximately € 3 Million revenues. The founders and partners of NedMobiel will continue within the ICT Group and will lead the mobility initiatives. The purchase consideration will be paid in cash. Further financial details will not be disclosed. The completion of the transaction is expected at the beginning of 2018.

The acquisition of NedMobiel is in line with ICT’s strategy to achieve organic growth combined with acquisitions. The aim of the acquisition strategy is to achieve strong positions in each of ICT’s three main themes: Smarter Industry, Smarter Cities and Smarter Health. Within these themes ICT delivers the highest added value to its customers. 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.

We will maintain our focus on what we try to accomplish every day; making the world a bit smarter with our technologies and skills.

Q3 2017 Results: solid performance

Key developments:

Q3 2017
– Revenue increased 23% to € 25.8 million (Q3 2016: € 21.0 million), organic revenue growth trend continued.
– EBITDA came in at € 2.5 million, an increase of 19% compared to € 2.1 million in Q3 2016.
– Focus on integration and consolidation of acquisitions continued; integration HTS ongoing.

9M 2017
– In the first nine months of 2017 revenue was up 21% to € 76.5 million (9M 2016:
€ 63.1 million), organic revenue growth 8%.
– EBITDA amounted to € 7.8 million (9M 2016: € 6.3 million), an increase of € 1.5 million.

Outlook.
– For the full year 2017 EBITDA expected between € 11.5 million and € 12.5 million.

Jos Blejie, CEO of ICT Group N.V.: “In the third quarter we continued our disciplined approach towards integration and consolidation. The integration process of HTS, which we acquired last June, is ongoing and we completed the integration of Nozhup. All ICT subsidiaries contributed to the growth realized in the past nine months. In particular ICT Nearshoring and BMA performed well in the third quarter. BMA benefited from its delayed launch of a new generation fetal heart monitors. With the continued favorable economic conditions, we expect to pass the € 100 million revenue milestone this year and expect to realize an EBITDA between € 11.5 million and € 12.5 million.”

Financial developments
In the third quarter of 2017 revenue increased 23% to € 25.8 million compared to
€ 21.0 million in Q3 2017. Organically, excluding HTS (acquired in June 2017) and
2 months Nozhup (consolidated as of September 2016), revenue growth was in line with the previous quarters. For the first nine months of the year revenue amounted to € 76.5 million. All subsidiaries contributed to the 21% increase compared to last year. Organic revenue growth year to date is 8%.

Overall productivity levels within ICT Netherlands were in line with last year. Strypes Bulgaria showed a significant increase in revenue compared to Q3 last year. BMA performed above expectations, Improve and Raster performed in line with last year. All ICT subsidiaries recorded positive results. EBITDA came in at € 2.5 million in the third quarter, compared with € 2.1 million in the same period of 2016. Year to date EBITDA was up 24% to € 7.8 million (9M 2016: € 6.3 million), resulting in an EBITDA margin of 10.2% (9M 2016: 10.0%). The positive trend in ICT’s markets continued in the third quarter.

Strategic themes
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 acquisitions of Nozhup and HTS, growth in the themes Smarter Industries and especially Smarter Cities was higher than in the Smarter Health theme.

Divestment of minority share in Strypes Nederland B.V.
In October Strypes Bulgaria (ICT Nearshoring) agreed to divest its minority stake (25%) in Strypes Nederland B.V. to the existing shareholders. As a consequence, transfer of the shares will take place early November. As part of this agreement Strypes Bulgaria and Strypes Nederland B.V. will continue their collaboration.

Outlook
ICT will continue to further leverage the strategic platform it has successfully built over the past years, aimed at organic growth combined with acquisitions. ICT’s acquisition strategy is focused on achieving a more balanced position between the three main themes. Our solutions, enabling a digital transformation for our customers, will be deployed in all industries and further internationalized.

Overall ICT has benefited from favorable economic circumstances. The markets in which ICT operates are expected to continue this favorable trend in the fourth quarter of the year. The strong fourth quarter of last year was the first quarter in which the activities of Nozhup were fully consolidated.

Based on the above, ICT expects EBITDA between € 11.5 million and € 12.5 million for the full year 2017.

Press release: Half Year Results 2017 ICT Group

H1 2017 RESULTS: CONTINUED ORGANIC REVENUE GROWTH

– Recent acquisitions integrated –

Highlights H1 2017

  • Revenue increased 20% to € 50.7 million, 6% organic growth
  • EBITDA up 28% to € 5.3 million (H1 2016: € 4.2 million)
  • Net profit at € 2.6 million, an increase of 20% (H1 2016: € 2.1 million)
  • Focus in H1 2017 on integration and consolidation of acquisitions
  • Continued investments in the organization to support future growth
  • Acquisition of high technology automation services provider HTS
  • Outlook 2017: ICT expects further growth in revenue and EBITDA in the second half of 2017 compared to the first half of 2017

Key figures

Jos Blejie, CEO of ICT Group N.V.:In the past six months we have prioritized the integration of the acquisitions of the past year to safeguard a proper basis to consolidate future potential, without losing focus on driving organic growth. Nozhup, that is now fully integrated, contributes positively to the Group’s results. With our latest acquisition HTS, that will primarily service Smart Industries, we passed the milestone of 1,000 employees. With this increased group of dedicated professionals, we are fully committed to further executing the company strategy, making the world a little smarter every day. We also continued our investments in the organization, companywide, to ensure a stronger foundation on which we can further build our company. We are confident about the second half of the year and therefore expect further growth in revenue and EBITDA in the second half compared to the first half of 2017.

Strategy update

In June 2017 ICT acquired High Tech Solutions B.V. (“HTS”), a Dutch based well-respected industrial automation project and services provider. HTS employs 25 professionals on an HBO / academic level. HTS delivers consultancy services in various markets within the domain of Smarter Industries.

During the first six months of 2017 we continued our investments in new platforms and start-ups. Developments at ICT Mobile are promising and a new platform was launched together with start-up company Valuemaat.

By the end of the first half of 2017, ICT passed the mark of 1,000 employees.

 

Notes to the results

In the first half year of 2017 ICT Group’s revenue came in at € 50.7 million, up 20% compared to € 42.1 million reported in H1 2016. The revenue growth showed a consistent trend. Organically, excluding the contribution of Nozhup and HTS, revenue increased by 6%. This was driven by an increased number of staff and productivity in line with last year.

Revenue at ICT Netherlands increased 22% to € 39.3 million in H1 2017 from € 32.3 million in the same period last year. The increase is mainly attributable to Nozhup that was acquired in September 2016, and fully integrated within ICT Netherlands in the first half of 2017. Organically, revenue was up approximately 5%. Main contributor to this organic growth was the business unit Automotive. Productivity levels were in line with last year. The average tariff increase was in line with the average salary increase. EBITDA came in at € 3.6 million in H1 2017 (H1 2016: € 2.6 million). Licences and materials sales were in line with last year.

Strypes Bulgaria (“ICT Nearshoring”) reported a 46% increase in revenue from € 3.2 million in H1 2016 to € 4.6 million in the first six months of 2017. In 2016 Strypes started to upgrade the organizational effectiveness to safeguard continued and sustainable strong growth of the nearshoring activities. In the first six months of 2017 these investments, in among others quality controls, continued and will continue in the second half. EBITDA amounted to € 0.9 million in H1 2017 (H1 2016: € 0.6 million).

The segment ‘Other’ recorded revenues of € 7.4 million (H1 2016: € 7.1 million). Improve had a slow start to the year, due to postponement of assignments. Recovery is expected in the second half of 2017. After a good 2016, in 2017 Raster experienced margin pressure as a result of more difficult market circumstances. BMA performed in line with last year.

Strategic themes

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.
Due to the acquisitions of Nozhup and HTS growth in the themes Smarter Industries and especially Smarter Cities was higher than in the Smarter Health theme.

Personnel costs increased significantly to € 31.0 million (H1 2016: € 24.9 million), primarily because of an increase in number of employees and salary increases.

Other operating expenses also increased, mainly because of the recent acquisitions. In the first half of 2017 the investment levels were similar to those in 2016. The investments focused primarily on housing and further operational effectiveness of the organisation. In addition, ICT continued investing more heavily in recruitment. The costs related to strategic initiatives and the realisation of acquisitions and partnerships amounted to € 0.1 million (H1 2016: € 0.3 million).

EBITDA for the first six months of 2017 increased by 28% to € 5.3 million, compared to € 4.2 million in the comparable period in 2016. The EBITDA margin increased from 9.9% in H1 2016 to 10.5% in H1 2017. The increased scale, following the acquisitions, leads to a more effective use of the indirect cost base.

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. Amortisation in the first half of 2017 included Nozhup and amounted to € 1.2 million (H1 2016: € 0.9 million). Depreciation for the first half of 2017 amounted to € 0.5 million (H1 2016: € 0.3 million).

The operating profit amounted to € 3.7 million in H1 2017 (H1 2016: € 3.0 million). As a result of the higher amortization, the operating margin was 7.2%, at the same level as H1 2016 (7.1%).

Results from joint ventures and associates
The results from InTraffic were in line with last year and contributed € 0.1 million to the results
(H1 2016: € 0.1 million). The total result from joint ventures and associates amounted to a loss of € 0.2 million (H1 2016: € 0.1 million loss).

Interest expenses increased to € 0.3 million in H1 2017, from € 0.2 million in the first six months of 2016, as a result of increased financing for the recent acquisitions.

Taxes in the first half of 2017 amounted to € 0.7 million compared with € 0.7 million in the first half of 2016.

Net profit for the first six months of 2017 increased to € 2.6 million, compared with € 2.1 million in H1 2016. An amount of € 2.5 million is attributable to the shareholders of ICT Group N.V. (H1 2016: € 2.1 million). This translates into earnings per share of € 0.27 (H1 2016: € 0.24). The number of outstanding ordinary shares increased during the first half year 2017 to 9,411,301 (31 December 2016: 9,288,309) due to stock dividend and to the employee share participation plan.

Cash flow movement

In the first half of the year, net operational cash flow amounted to € 0.5 million negative in H1 2017 (H1 2016: € 0.3 million negative). The net cash position per 30 June 2017 decreased to € 1.0 million negative (31 December 2016: € 5.6 million positive). This was mainly due to the purchase price cash consideration of the acquisition of HTS, the payment of dividend, the repayments of existing acquisition financing and investments in housing facilities.

Balance sheet structure

In the first half of 2017, shareholders’ equity increased to € 44.5 million (31 December 2016: € 43.7 million) as a result of the net effect of dividend paid of € 2.1 million, net profit of € 2.6 million, and an equity increase of € 0.3 million as a result of issuing new shares (for the share participation plan for personnel and stock dividend). The balance sheet total increased from € 79.2 million at year-end 2016 to € 84.7 million at 30 June 2017, as a result of the acquisitions in the last six months. Solvency (shareholders’ equity/total assets) stood at 53% at the end of June 2017 (55% at year-end 2016).

Personnel

At 30 June 2017, ICT Group has 1,014 employees (971 FTEs), around 6% higher than at year-end 2016. The acquisition of HTS, a low attrition in the first half of the year as well as increased recruitment efforts contributed to this increase.

Outlook

ICT will continue to further leverage the strategic platform it has successfully built over the past years, aimed at organic growth combined with acquisitions. The aim of the acquisition strategy is to achieve strong positions in each of ICT’s three main themes. ICT continues its focus on the smarter themes by further deploying its solutions in Internet of Things enabling a digital transformation for its customers. Overall ICT has benefited from favourable economic circumstances. The markets in which ICT operates are expected to continue this favourable trend in the second half of the year. Some markets, such as Oil and Gas are more challenging than others.

Based on the above, ICT expects further growth in revenue and EBITDA in the second half of 2017 compared to the first half of 2017.

Click here to download the Annex of the Condensed consolidated interim financial statements of 30 June 2017

ICT Group en Cisco sluiten partnership voor Digitale Transformatie

Vanwege de toenemende vraag aan IoT (internet of Things) toepassingen en verdere digitalisering binnen de industriële sector, hebben ICT groep en Cisco een partnership gesloten. Deze samenwerking is een logisch vervolg op de samenwerking van Cisco en Microsoft rondom IoT zoals recent is aangekondigd. ICT groep heeft met haar kennis van de industriële markt en de kennis van zowel Microsoft en Cisco alles in huis om verdere digitalisering binnen deze markt vorm te geven.

Aart Wegink, Director Digital Transformation ICT Group “De samenwerking heeft tot doel om binnen de industriële sector “Industry proven” technologieën te leveren die de integratie tussen het IT en OT domein (operationele technologie) op een veilige en betrouwbare wijze weten te realiseren.

“ICT Group is een visionair en autoriteit in het OT domein. We zijn trots dat ICT Group hand in hand met Cisco de brug wil slaan tussen de IT en OT werelden om onze gezamenlijke klanten binnen de segmenten utilities, manufacturing en mobiliteit te helpen de route naar de digitale wereld succesvol in te zetten. De noodzaak om technologische silo’s open te breken voor efficiency, data ontstluiting en analytics toe te passen op werkprocessen en systeemperformance en cyber security als business enabler brengt ons samen in een veelbelovende combinatie”, aldus Daan de Groot Channel Lead Cisco Nederland.

ICT Group acquires high tech solutions and passes the milestone of 1,000 professionals

ICT Group N.V. (ICT) announces that it has signed a share purchase agreement to acquire 100% of the shares of High Tech Solutions B.V. (HTS), a Dutch based high technology automation services provider. The company was founded in 2006 and currently employs around 25 professionals on a HBO / academic level. HTS brings a customer set that is highly complementary to ICT. The acquisition supports ICT’s growth ambitions. High Tech Solutions is a well-respected industrial automation project and services provider. The company is located in Apeldoorn and delivers consultancy services in different markets like Telecom, Healthcare, Defence Security and High Tech Manufacturing. HTS realises profitable revenues of around EUR 2.5 million per annum. With this acquisition ICT passes the mark of 1,000 employees. Commenting on the closing, Jos Blejie, CEO of the ICT Group, stated: “We are pleased with the acquisition of High Tech Solutions. Although a niche player, HTS is bringing new, well respected, clients and specialised industry knowledge to the ICT Group. We warmly welcome our new colleagues and are proud to pass the milestone of 1,000 professionals. For many years HTS and ICT have worked together and both companies acknowledge that there is a clear cultural fit between the two companies. HTS will work closely together with ICT’s Machine & Systems business unit. The founders of HTS will remain involved until the end of 2018. The purchase consideration will be paid in cash. Further financial details will not be disclosed.

Q1 2017 results: CONTINUED GROWTH IN REVENUE AND EBITDA

Key developments:

  • Revenue in Q1 up 21% to € 25.6 million (Q1 2016: € 21.1 million)
  • Organic revenue increase of 7%.
  • EBITDA increased by 27% to € 2.8 million (Q1 2016: € 2.2 million).
  • Integration of Nozhup accomplished

Key figures

(in € millions) Q1 2017 Q1 2016 Δ
Revenue 25.6 21.1 + 21%
EBITDA 2.8 2.2 + 27%

Jos Blejie, CEO of ICT Group N.V.: “We have started the year 2017 in line with expectations across all our business segments, resulting in revenue and profitability growth in the first quarter compared with the first quarter of 2016. During the first three months we focused on the completion of the integration of Nozhup to be able to immediately reap the benefits of this acquisition. We continue to be committed to the execution of the company strategy, in which gaining market share and investments in new technologies and business solutions are key. Given the current positive economic circumstances we reiterate that we expect a further growth in both revenue and profitability for the full year 2017 versus 2016.”

Financial developments

Revenue in the first quarter of 2017 increased to € 25.6 million compared to € 21.1 million in the first quarter of 2016. Organically, excluding Nozhup and 1 month BMA (consolidated as from February 2016), revenue grew 7%. Due to the acquisition of Nozhup the segment ICT Netherlands increased substantially. Overall the markets ICT operates in continued their positive development this first quarter of 2017. In Q1 2017 ICT made further progress in the execution of its strategy with the completion of the integration of Nozhup into the ICT Netherlands organisation. All ICT subsidiaries recorded positive results. EBITDA came in at € 2.8 million in the first quarter, compared with € 2.2 million in the same period of 2016.

Strategic themes

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. As Nozhup’s activities are focussed on Smarter Industries and Smarter Cities, in these areas more growth was realised this first quarter of 2017 than in Smarter Health.

Revenue split per theme (in € millions) Q1 2017 Q1 2016 Δ
Smarter Industries 15.4 13.2 + 17%
Smarter Cities 6.1 4.4 + 39%
Smarter Health 2.5 2.3 + 9%
Other 1.5 1.3 + 15%
Total revenue 25.6 21.1 + 21%

ICT Group completes integration of Nozhup

In September 2016 ICT Group acquired Nozhup, thereby gaining significant scale in the industrial automation market. Nozhup is consolidated for the full quarter in the segment ICT Netherlands. As part of the integration process of Nozhup into ICT a legal merger took effect at the end of March 2017.

Outlook

ICT’s management reiterates the outlook given at the annual results announcement in March. ICT will continue to focus on the further leveraging of the strategic platform it has successfully built over the past years, aimed at organic growth combined with acquisitions. The goal of the acquisition strategy is to achieve strong positions in each of ICT’s three main themes. Overall, the markets in which ICT is active are developing positively from a demand perspective, although some markets do remain challenging. ICT expects its capital expenditures and research & development expenditures for 2017 to grow in line with the increased scale of the company. The tight labour market remains a potential bottleneck, and attracting and retaining the right people continues to be one of our key priorities. Based on the above, ICT expects further growth in revenue and EBITDA in 2017 compared to 2016.