Earnings Release • May 11, 2016
Earnings Release
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's-Hertogenbosch (the Netherlands), 11 May 2016
| € million (unless otherwise stated) | Q1 2016 | Q1 2015 | Change % (*) |
|---|---|---|---|
| Turnover | 21.2 | 20.7 | +2.4 |
| Operating result | 0.6 | 0.5 | +13.1 |
| Net result | 0.4 | 0.4 | +20.7 |
| Number of employees at end period | 457 | 457** | |
| (headcount) |
(*) percentage, as before, calculated on figures rounded off to thousands.
(**) excluding 29 employees IFS Probity
Ctac sold its entire stake (59.8%) in IFS Probity on 4 January 2016. The sale was effective as from 1 January 2016 and was realised at net asset value.
"Ctac made a good start to 2016. Turnover increased to € 21.2 million in the first quarter. Corrected for turnover from the stake in IFS Probity, which was sold in January 2016, we recorded strong organic growth of 11.0%. The operating result was up 13.1%. The net result was 20.7% or almost € 0.1 million higher, largely on the back of the aforementioned increase in the operating result. All business units made a positive contribution, with the exception of Ctac France, which is still dealing with the aftermath of a major project.
Other notable activities in the first quarter included the expansion of e-commerce activities and the successful implementation of a new ERP system.
Based on the order book, the increased strength of our project management and the continued growth of the share of Cloud activities in overall turnover, we reiterate our previously published forecast to the effect that, barring exogenous circumstances, Ctac will record a higher result in 2016 than in 2015."
Ctac N.V. (CTAC) recorded turnover of € 21.2 million in the first quarter of 2016 (Q1 2015: € 20.7 million). This constitutes an increase of 2.4% compared to the first quarter of 2015. For any comparison to the results reported in the fourth quarter of 2015, the regular seasonal patterns should be taken into consideration.
Turnover in the first quarter can be broken down as follows:
| € mln | Q1 2016 | Q1 2015 |
|---|---|---|
| Cloud Services | 7.2 | 6.8 |
| Consultancy | 5.0 | 5.5 |
| Resourcing | 3.2 | 3.2 |
| Sales | 2.5 | 2.8 |
| Belgium | 3.3 | 3.2 |
| Other / eliminations | 0.0 | -0.8 |
| Total | 21.2 | 20.7 |
Total operating expenses came in € 0.3 million lower at € 13.8 million. The operating result for the first quarter of 2016 came in at € 0.6 million (Q1 2015: € 0.5 million).
Shareholders' equity increased to € 14.0 million as per 31 March 2016, from € 13.6 million as per 31 December 2015, due to the addition of the net result for the first quarter 2016 (€ 0.4 million). The regular seasonal pattern resulted in a slight decrease in the solvency ratio, which stood at 32.7% as per 31 March 2016 (31 December 2015: 33.7%).
As an innovative Total 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 2016, Ctac employs a staff of 457. The head office is located in 's-Hertogenbosch, the Netherlands. Ctac is also active in Belgium and France. For more information: www.ctac.nl.
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]
| 11 May 2016 | : | Publication trading update first quarter 2016 |
|---|---|---|
| 11 May 2016 | : | General Meeting of Shareholders |
| 12 August 2016 | : | Publication half year results 2016 |
| 3 November 2016 | : | Publication trading update third quarter 2016 |
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