Industrial automation specialist ICT Group reported revenue in the first quarter of 2018 was up 12% at €28.7 million, from €25.6 million in the same period of 2017, with organic revenue growth of 6%.
Operating profit, EBITDA, was € 6.5 million, including a one-off accounting gain of €3.5 million, and underlying EBITDA increased to €3.0 million from €2.8 million in Q1 2017.
Jos Blejie, CEO, said "In the first quarter of 2018 results were in line with expectations, with a good performance of ICT Netherlands. One of the highlights of the first quarter was acquiring full ownership of InTraffic. As wholly owned subsidiary, InTraffic substantially strengthens our position in Smarter Cities from Q2 onwards. We will continue to focus on the further execution of our strategy, aimed at organic growth combined with add-on acquisitions. Considering the performance in this first quarter and the continued positive market trends, we reiterate that we expect a further growth in both revenue and EBITDA for the full year 2018 compared to 2017.”