IT Competence Group reports significant growth in revenue and earnings for the first half of 2019 and renewal of a key managed services contract

IT Competence Group SE, which is listed in the m:access midmarket segment on the Munich Stock Exchange, reports that business has developed according to plan in the first six months and has published the unaudited half-year figures.
 
In the first half of 2019, the overall performance increased significantly by 16% to EUR 12.7 million (June 30, 2018: EUR 10.9 million). The overall performance in the second quarter increased to EUR 6.4 million, from EUR 5.6 million the previous year.
 
The EBITDA for the first half of the year was EUR 0.7 million, which also represented a significant increase (June 30, 2018: EUR 0.4 million). The EBITDA for the second quarter was EUR 0.3 million. The EBITDA margin in the first half of the year reached a value of 5.5%, which was in line with the planned growth and represented an increase of 3.7% compared with the previous year’s value.
 
The volume of orders on June 30, 2019 amounted to EUR 14.3 million. In the past week, a key managed services customer renewed its contract for the next two calendar years. This generated incoming orders of more than EUR 5 million for the company, which it views as confirmation of its strategy of moving toward predictable, long-term contracts.
 
Management is very pleased with how business has developed in the first half of the year. The Board also anticipates that the positive development will continue in the second half of the year and expects the company to meet its objectives, provided that the economy does not deteriorate further.
 
The detailed half-year report for the Group is expected to be published in calendar week 34.