Netherlands-headquartered reseller ICT Group has posted year-on-year sales up 20% for the half-year to €60.9m, representing organic growth of 5%. And underlying EBITDA was up 9% to €5.8m.
Including one-off costs related to contract termination fees at the acquired InTraffic (€800,000), EBITDA was €5.1m. Net profit came in at €5.7m (H1 2017: €2.6m), including one-off accounting gains of €4.1m related to the acquisition of InTraffic and the revaluation of ICT’s stake in GreenFlux.
The company also completed the acquisition of NedMobiel. The company says it expects “further growth in revenue and EBITDA in the second half of 2018”, when compared to the first half.
Jos Blejie, CEO of ICT Group, said: “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.”
He said: “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.”
Blejie added that the firm was “cautiously looking for international expansion”. The company already owns the Strypes Bulgaria nearshoring business, which showed modest growth in the first six months.
