ICT ENDS FIRST HALF IN LINE WITH EXPECTATIONS, ADJUSTS FULL-YEAR 2001 FORECAST

07/17/2001

ICT Automatisering N.V. (ICT) reports that net profit for the first half of 2001 is expected to be around EUR 7.4 million, an increase of 22% on the net profit booked in the first half of 2000 (EUR 6.1 million). Despite the fact that the first half result was in line with expectations, ICT is also increasingly feeling the effects of the deteriorated market conditions. The third quarter has started disappointingly and the outlook for the fourth quarter is also weak. ICT has adjusted its forecast for the full year 2001 from an increase in net profit of at least 20% to a net profit down on the result booked in the full-year 2000 (EUR 13.4 million). ICT will give further details of its profit forecast on 7 September 2001 in its first-half report.

As ICT noted in its press release on 23 May, ICT is also being confronted with more difficult market conditions. As a strategic partner, ICT is closely involved with its R&D processes of its clients. As these projects have long development periods, the impact of weaker market conditions becomes visible at a later stage. While in the first half of the year, this was seen mainly in shifts and changes in projects, the poor market conditions are now forcing clients to postpone investments. Various clients have announced reorganisation plans, which also puts pressure on R&D budgets and means that planned investments are being reconsidered.

At the presentation of its first-half results, ICT will provide further information on the operations at the various divisions and provide more details of the adjusted profit forecast for 2001. ICT will present its first-half results pre-trading on 7 September 2001.