Ctac N.V. — Earnings Release 2015

May 13, 2015

Total: 2 pages

P R E S S R E L E A S E

's-Hertogenbosch (the Netherlands), 13 May 2015

Ctac reiterates forecast of higher result in 2015

Key figures

€ mln (unless otherwise stated)	Q1 2015	Q1 2014	Change %
Turnover	20.7	21.1	-2.0%
Operating result	0.5	0.6	-18.3%
Net result	0.4	0.4
Number of employees end period (headcount)	486	476

Highlights first quarter 2015

• Turnover falls slightly by 2% to € 20.7 million in the first quarter of 2015
• Operating result down by € 0.1 million at € 0.5 million in the first quarter of 2015
• Net result stable at € 0.4 million
• 2015 forecast reiterated: barring unforeseen circumstances, Ctac expects to achieve a higher result in 2015 compared to 2014

Henny Hilgerdenaar, Chief Executive Officer of Ctac:

"The year started slowly for Ctac. Our consultancy business had to wait until the second half of January before several clients took concrete action on contracts already awarded to us. This led to both turnover and capacity utilisation lagging in that month. Business in the segment picked up well by the end of January, but it was not possible to make up fully for the arrears in February and March. Compared with the first quarter of 2014, turnover fell slightly by € 0.4 million to € 20.7 million. The drop in operating result ultimately amounted to € 0.1 million. Net result remained stable due to lower financial expenses and a lower tax rate in the first quarter of 2015. In addition, it should be noted that we are now starting to reap the benefits of the programme we started in 2014 to further improve the quality of our project management.

On the basis of a modest rise in the order book, the improvement in our project management and continued increase in the share of turnover from our Cloud-based activities, we reiterate our earlier forecast that, barring unforeseen circumstances, we will book higher result in 2015 than in 2014."

Turnover and profit

In the first quarter of 2015, Ctac N.V. (Ctac) booked turnover of € 20.7 million (Q1 2014: € 21.1 million). This was a drop of 2% compared with the first quarter of 2014. Any comparison with the figures reported for the fourth quarter of last year should take into account normal seasonal patterns.

Turnover in the first quarter can be broken down as follows:

€ mln	Q1 2015	Q1 2014
Cloud Services	8.9	6.8
Consultancy	9.7	10.6
Resourcing	4.1	3.6
Belgium	3.8	4.6
Other/eliminations	- 5.8	- 4.5
Total	20.7	21.1

Total operating expenses fell slightly by € 0.1 million to € 14.0 million. The operating result for the first quarter of 2015 came in at € 0.5 million (Q1 2014: € 0.6 million).

Financial position

Shareholders' equity had risen to € 11.6 million as per 31 March 2015, from € 11.2 million as per 31 December 2014, due to the addition of the net profit for the first quarter of 2015 (€ 0.4 million). Solvency had dipped slightly to 28.2% as per 31 March 2015 (31 December 2014: 31.1%) on the back of normal seasonal patterns.

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About Ctac

As an innovative ICT Solution Provider, Ctac helps customers realize their ambitions. We do so by developing and implementing industry-focused solutions that fully address customer's needs and business processes in various markets. With a passion for technology and a sharp eye for business processes, we work at the crossroads of business and ICT on a daily basis. Our industry-focused solutions for among others retail, wholesale, manufacturing, real estate and professional services 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 cloud services and software development, mobility and in-memory computing. For this, we always take a professional approach, with an innovative angle and a focus on transparent personal contact.

Ctac is listed at Euronext Amsterdam (ticker: CTAC). As per end of March 2015, Ctac employs a staff of 486. The head office is located in 's-Hertogenbosch, the Netherlands. Ctac is also active in Belgium and France. For more information: www.ctac.nl.

For more information

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. info@ctac.nl

Financial agenda

13 May 2015	:	General Meeting of Shareholders
20 August 2015	:	Publication interim results 2015
5 November 2015	:	Publication of results for the third quarter of 2015

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