IT Competence Group SE publishes half-year figures and revises earnings forecast upward

IT Competence Group SE, an IT services group listed in the m:access segment on the Munich Stock Exchange, reports positive business development in the first six months and published its unaudited half-year figures.
 
In the first half of the year, the company increased its revenues by 5% to EUR 10.9 million (June 30, 2017: EUR 10.4 million). The revenue in the second quarter grew to EUR 5.6 million, confirming the company’s return to its planned growth trajectory.
 
The EBITDA for the second quarter was EUR 0.2 million. The EBITDA on June 30, 2018 was EUR 0.4 million, which represents a significant improvement compared with the previous year’s value of EUR -0.8 million.
 
Management is very pleased with the business development in the first six months of the year. The EBITDA margin of 4% for the first half-year was achieved even earlier than planned. However, the company wants to achieve further significant improvement in this figure in the medium term by increasing the number of scalable, long-term contracts in the managed services segment.
 
The volume of orders on June 30, 2018 amounted to approximately EUR 15.0 million, thus continuing to grow as in the previous quarters.
 
In view of the good results for the first half of the year and the positive outlook for the coming months, the company has adjusted its EBITDA forecast upward to a range of EUR 0.7 million to EUR 1.0 million (previous range EUR 0.3 million to EUR 0.6 million). Revenue is still expected to be between EUR 23 million and EUR 24 million.
 
The detailed half-year report for the Group will be published in the second half of August.
 
IT Competence Group SE
Investor Relations
 
Phone: +49 89-244118-300
Fax: +49 89-244118-310
info@it-competencegroup.com