IT Competence Group SE, which is listed in the m:access segment on the Munich Stock Exchange, has reported its figures for the first quarter of 2020.
 
In spite of the ongoing COVID-19 pandemic, the company got off to a very good start this year, with a further increase in all key financial indicators compared with the first quarter of the previous year. The overall performance increased 2.4% according to plan, to a value of EUR 6.4 million (overall performance for Q1 2019: EUR 6.3 million). Revenue also amounted to EUR 6.4 million (revenue for Q1 2019: EUR 6.1 million), which represents an increase of 5.2%.
 
Compared with the previous year, the operating result (EBITDA) grew disproportionately by approximately 20% to EUR 0.5 million (EBITDA for Q1 2019: EUR 0.4 million). While the EBITDA margin in the first quarter of the previous year was just 6.3%, this has since increased to 8.3%. Thus, the company succeeded in increasing its profitability again after the cost adjustments at the end of the last fiscal year. The EBIT also amounted to EUR 0.5 million (EBIT for Q1 2019: EUR 0.4 million).
 
The volume of orders on March 31, 2020 continued to grow, with a value of approximately EUR 16 million (compared with EUR 15.1 million the previous year).
 
Due to the company’s strategic orientation toward sustainable, long-term revenues, there was no appreciable fall in customer demand in the reporting period despite the overall economic restrictions and the necessary changes in everyday working life. Greater demand for mobile workplace services has compensated for minor falls in capacity utilization. The company expects the economic effects of the pandemic to remain limited in the coming months.
 
In view of the good quarterly figures and solid order situation, the company confirms its forecast indicating revenues at the same level as the previous year with significantly increasing profit margins.
 
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.
 
About audius
 
Founded in 1991, audius operates in the areas of software, security and audit services, consulting, and managed services. The companies of the audius Group and IT Competence Group focus on strengthening their core competencies while broadening their service portfolio. Currently employing nearly 300 people, audius (without IT Competence Group) generated approximately EUR 27 million in revenue in 2019.