In the first half of this year, ICT Group’s revenue came in at 81.4 million euros, a 2 percent increase compared to the same period in 2019. Organically, excluding acquisitions and divestments, it was down 1.3 percent. Net profit took a 16 percent year-on-year dive to 2.1 million. The Barendrecht-based software solutions specialists are calling it a solid result, with Covid-19 impact being limited – effects were more visible in April and May and as of June, productivity recovered. On 30 June 2020, the group employed 1,503 people, 2.4 percent more than at year-end 2019.
Esprit Management & IT Services isn’t included in the figures yet. ICT bought 100 percent of the shares halfway in July. Founded by Marc Reijnen in 1999, the Sint-Oedenrode-based company is active in technical software development and recruitment services in the technical automation domain. It employs over 20 professionals and generates an annual turnover of around 2 million euros. After an initial integration period, Esprit will merge with Additude Netherlands, the Dutch branch of the Swedish company Additude acquired by ICT in 2019. Their combined offering will broaden the group’s services and open up an additional part of the labor market. Reijnen will lead the integration and further development within ICT.
In light of the Covid-19 crisis, ICT has taken necessary measures to cut and control costs, with a strong focus on cash management. It didn’t apply for governmental support in the Netherlands. The company did conclude a revised financing agreement, which includes an additional 10 million euro government-secured facility by Rabobank, to provide a back-up financing facility in case the crisis would further intensify.
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