Off
02.03.2020 - 08:22 Uhr
IT Competence Group SE’s preliminary figures for 2019 confirm forecast
LUDWIGSBURG – March 2, 2020

IT Competence Group SE, an IT services group listed in the m:access midmarket segment on the Munich Stock Exchange, has published its results for the fourth quarter of 2019 and preliminary unaudited results for fiscal year 2019.
 
In the closing quarter of last year, the company achieved an overall performance of approximately EUR 5.5 million (overall performance for Q4 2018: EUR 7.0 million). The decline is chiefly due to the announced reduction in license revenues, which still had a very strong positive impact on revenue in the corresponding quarter of the previous year. The EBITDA in the final quarter of 2019 amounted to approximately EUR 0.3 million (EBITDA for Q4 2018: EUR 0.5 million). After adjustment for one-off costs, the EBITDA margin almost reached the same high level as the previous year.
 
According to the unaudited figures currently available, the company achieved an overall performance of EUR 24.2 million for 2019 as a whole (overall performance for 2018: EUR 24.3 million). The operating result (EBITDA) amounted to approximately EUR 1.25 million (EBITDA for 2018: EUR 1.49 million).
 
In the third and fourth quarters in particular, earnings were impacted by somewhat weaker capacity utilization as well as extraordinary costs incurred as the result of personnel restructuring measures. When the operating result was adjusted for one-off expenses, it was only marginally lower than the record result from the previous year. This underscores the positive course that the company is steering for the future.
 
Like in the previous year, the company succeeded in converting the operating result almost completely into a positive cash flow. For 2019 as a whole, the cash flow from ongoing business activities was approximately EUR 1.1 million.
 
On the reporting date, liquid funds had increased by approximately EUR 0.3 million to EUR 2.5 million. Equity grew by EUR 2.1 million to EUR 3.1 million while liabilities decreased by EUR 3.4 million to just EUR 2.6 million. The equity ratio thus achieved a very solid value of more than 40%.
 
The volume of orders on December 31, 2019 amounted to approximately EUR 17 million, a further increase of approximately EUR 1.3 million compared with the reporting date in the previous year. This development underscores the company’s positive course in the past years, minimizes dependence on short-term project business, and leads to sustained, stable business development.
 
The final figures will be published together with the annual report in April 2019.
 
The company got off to a good start this year and has confirmed its forecast by achieving a fairly constant overall performance while simultaneously increasing its profit margins. Intensified cooperation with audius AG and the recently optimized personnel structure will support the company in achieving its goals and allow it to face the coming months and years with confidence.
 
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.