• Recent
• Archive

ICT EXPECTS NET PROFIT OF AROUND EUR 6 MILLION FOR FULL-YEAR 2006

11/20/2006

ICT Automatisering N.V. (ICT) expects to book an increase in turnover of around 15% compared to 2005. Net profit is expected to show a drop of 17% to around EUR 6 million, primarily as a result of the termination of the German activities of BenQ. ICT expects to have largely neutralised these effects in the course of the first quarter of 2007.
 
Bram Schot, CEO of ICT explains: “The developments in our divisions were mixed in the past quarter. As predicted, a number of clients faced difficult circumstances in the past period. For a number of them, this resulted in reorganisations, particularly in the Automotive sector, and in the case of BenQ it even meant the termination of the German activities. On the other hand, the developments at the other segments were generally positive. That is why I am confident that ICT will be able to largely absorb the temporary vacancies in our capacity in the course of the first quarter of 2007.”  

The termination of BenQ’s German activities is expected to have a negative impact on the operating result for 2006 amounting to between EUR 2.5 million and EUR 3 million, due to a combination of unpaid outstanding receivables and the temporary deterioration in utilisation as a result of a loss of turnover. In addition, the Traffic & Automotive division is expected to book lower turnover in the fourth quarter due to reorganisations in the Automotive industry.