Earnings Release • Nov 8, 2012
Earnings Release
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's-Hertogenbosch (the Netherlands), 8 November 2012
| (x € million) unless otherwise stated |
2012 Q3 |
2011 Q3 |
2012 incl. Q3 |
2011 incl. Q3 |
|---|---|---|---|---|
| Turnover | 18.8 | 16.8 | 58.4 | 53.1 |
| Operating result (EBIT) | 0.2 | 0.0 | 1.2 | -1.5 |
| Net result | 0.1 | -0.6 | 0.6 | -1.7 |
Ctac maintains its previous forecast for 2012: An increase in organic turnover and improvement of the underlying (operating) result.
"The upward trend in Ctac's turnover and profitability, which began in late 2011, continued in the third quarter of 2012, despite the persistent stagnation in the ICT market. Reviewing the developments per quarter, I would like to note that the third quarter is traditionally adversely affected by a great number of holidays and thus fewer billable hours, even more so than the second quarter."
The net result for the third quarter 2012 was modest but positive, with a net profit of EUR 0.1 million. It should be noted that in this context Ctac booked a negative net result in the third quarters of both 2011 and 2010, with losses of EUR 0.6 million (2011) and EUR 0.2 million (2010) respectively.
The number of employees (FTE) as per 30 September 2012 stood at 478, down from 482 on 30 June 2012.
The strategy announced at the presentation of the annual results for 2011, which included taking a critical look at various parts of the company in terms of returns, cash-generating capacity and their fit within Ctac's overall strategy, has since led to the sale of the shares in Meridian to the company's management effective 31 May 2012 and the sale of the assets and liabilities of the Healthcare division effective 1 October 2012. Ctac remains fully committed to this strategy.
Ctac improved its balance sheet position in the third quarter, thanks not only to the earlier announced sale and leaseback transaction, but also on the back of some improvements in the company's working capital. The shareholders' equity rose to EUR 6.8 million and the solvency ratio (shareholders' equity / balance sheet total) was up at 18%.
On 28 September 2012, a large number of interested people attended the festive opening by T. Rombouts, the Mayor of 's-Hertogenbosch, of Ctac's new office premises on Meerendonkweg, in the Pettelaarpark business district of 's-Hertogenbosch.
As an innovative ICT Solution Provider, Ctac helps customers realize their ambitions. We do so by developing and implementing targeted solutions that fully address customer's needs and business processes in various industries. With a passion for technology and a sharp eye for business processes, we work 24/7 at the crossroads of business and ICT. Our industry-focused solutions for among others retail, wholesale, real estate and charity are being developed in close cooperation with our customers. We complement our industry-specific composed solutions with a comprehensive range of services, varying from business consultancy to managed services and software development, mobility, in-memory computing and cloud. For twenty years now, we have been taking a professional approach, with an innovative angle and a focus on transparent personal contact.
Ctac is listed at Euronext Amsterdam (ticker: CTAC). As of September 2012, Ctac employs 478 people. The head office is located in 's-Hertogenbosch, the Netherlands. Ctac has also offices in Belgium and France. For more information: www.ctac.com.
Ctac N.V. Meerendonkweg 11 5216 TZ 's-Hertogenbosch
Postbus 773 5201 AT 's-Hertogenbosch www.ctac.nl
Henny Hilgerdenaar – CEO Douwe van der Werf - CFO T. +31 (0)73-692 06 92 E. [email protected]
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