Ctac records higher revenue, driven by growth in Cloud services

Ctac records higher revenue, driven by growth in Cloud services.

’s-Hertogenbosch, 27 February 2024 – Business & Cloud Integrator Ctac N.V. (Ctac) (Euronext Amsterdam: CTAC) todays announces its 2023 full-year results.

Highlights 2023

Revenue +8.1% (+7.1% organic) to € 127.2 million
One-off charges for Technology2Enjoy, provision related to long-term sickness and streamlining of organisation
Normalised EBITDA of € 11.8 million, with a margin of 9.3%. (2022: € 13.3 million with a margin of 11.3%). Including one-off charges, EBITDA comes in at € 10.2 million with a margin of 8.0%
Operating cash flow rises to € 10.7 million and net cash position stands at € 7.0 million
Dividend proposal of € 0.11 per share in cash (pay out: 37.1% based on normalised net profit)

Highlights fourth quarter 2023

Revenue comes in at € 31.7 million, revenue growth Cloud services continues
EBITDA comes in at € 2.6 million with a margin of 8.2%. Normalised EBITDA is € 3.6 million with a margin of 11.4%

Outlook

Organic revenue growth with the emphasis on improved profitability
Continued roll-out of recalibrated strategy

Key figures € mln (unless stated otherwise)	2023	2022	Delta	Q4-2023	Q4-2022	Delta
Revenue	127.2	117.7	+8.1%	31.7	31.8	-0.3%
EBITDA**	10.2	12.3	-17.1%	2.6	4.1	-36.6%
EBIT*	4.1	6.9	-40.6%	0.4	2.7	-85.2%
Net profit***	1.1	5.0	-78.0%	-1.3	2.1	-161.9%

Normalised EBITDA	11.8	13.3	-11.3%	3.6	5.1	-29.4%
Normalised EBIT	6.6	7.9	-16.5%	2.3	3.7	-37.8%
Normalised net profit	4.4	5.8	-24.1%	1.5	2.9	-48.3%

Operating cash flow	10.7	5.7	+87.7%
Net cash (at year-end)	7.0	5.4	+29,6%

*) Including one-off expenses of € 2.5 million in 2023 (2022: € 1.0 million)
**) Including one-off expenses of € 1.6 million in 2023 (2022: € 1.0 million)
***) Including one-off expenses of € 3.3 million in 2023 (2022: € 0.8 million)

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27 February 2024

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