Revenue after nine months exceeds previous year’s level – forecast for the year as a whole is adjusted

IT Competence Group SE, an IT service provider listed in the m:access segment on the Munich Stock Exchange, has published unaudited figures for the third quarter of 2019.
 
Revenues in the third quarter amounted to EUR 6.1 million, which was slightly lower than the revenues generated in the previous year (Q3 2018: EUR 6.4 million). Over the first nine months of the year, the company increased its revenue by 9% to EUR 18.8 million (previous year, 2018: EUR 17.3 million).
 
At EUR 0.3 million, the EBITDA for the third quarter remained stable compared with the previous quarters. The operating result for the first nine months amounted to EUR 0.9 million, which was exactly the same as the previous record year. The EBIT was EUR 0.7 million (previous year, 2018:. EUR 0.7 million) and the EBT was also EUR 0.7 million (previous year, 2018:. EUR 0.6 million).
 
The volume of orders on September 30, 2019 amounted to approximately EUR 17.1 million, which represented a significant increase compared with the previous quarter.
 
Based on the information currently available, capacity utilization in the current fourth quarter will be slightly lower than expected due to project delays on the customer side (from the automobile sector in particular).
 
In addition, one-off extraordinary restructuring costs will be incurred in the current quarter.
 
Based on the information currently available, the company is therefore unlikely to achieve its goal of generating revenue greater than EUR 26 million and an EBITDA of at least EUR 1.5 million. The Board now expects revenue to be only slightly above the previous year’s level – in the range of EUR 24 million to EUR 25 million – with an EBITDA slightly below last year’s level – in the range of EUR 1.2 million to EUR 1.3 million. These figures take into account the extraordinary expenses mentioned above.
 
Thanks to its strategic focus on high-margin service revenues and the restructuring measures it has completed, the company’s is now much closer to achieving its medium to long-term goal of increasing its margins and thus its earnings figures. Management already expects an increase in earnings for 2020. The company will publish a detailed forecast for next year in the next few weeks.
 
Rainer Francisi, Chairman of IT Competence Group, comments: “In view of the project delays that were out of our control, we are very pleased with how business is progressing and with our expected results, even if we don’t quite reach our original income targets. Thanks to the restructuring measures we completed, which will have a direct positive effect on our key earnings figures, we are confident that the company is in a very good position to achieve its ambitious goals.”
 
About IT Competence Group
 
IT Competence Group SE is an IT service company that operates in the DACH region (Germany, Austria, and Switzerland). The company offers tailor-made solutions for all aspects of IT infrastructure and business solutions, from consulting to implementation and operation. A specific business unit is dedicated to mobile data infrastructures, in particular the development and expansion of the 5G network. The Group’s customers include global corporations and medium-sized companies. Together with the strategic majority shareholder audius AG, the company’s goal is to grow both organically and through acquisitions. IT Competence Group SE shares are listed on the Basic Board of the Frankfurt Stock Exchange and in the m:access midmarket segment on the Munich Stock Exchange.
 
IT Competence Group SE
Investor Relations
 
Phone: +49 89-716 721-044
info@it-competencegroup.com
 

Die IT Competence Group SE ist eine IT-Service-Gesellschaft, die in der DACH-Region aktiv ist. Das Unternehmen bietet von der Beratung, Implementierung und dem Betrieb maßgeschneiderte Lösungen zu allen Fragen rund um das Thema IT-Infrastruktur und Business Solutions an. Ein weiterer Geschäftsbereich beschäftigt sich mit mobilen Dateninfrastrukturen, insbesondere dem Auf- und Ausbau des 5G-Netzes. Zu den Kunden der Gruppe zählen global agierende Konzerne sowie mittelständische Betriebe. Gemeinsam mit dem strategischen Mehrheitsaktionär audius AG ist das Ziel sowohl organisch als durch Zukäufe zu wachsen. Die Aktien der IT Competence Group SE notieren im Basic Board der Börse Frankfurt als auch im Mittelstandssegment m:access der Börse München.

IT Competence Group SE
Investor Relations

t.: +49 89-716 721-044
info@it-competencegroup.com