Ctac records revenue of € 87.3 million and a net profit of € 3.0 million in 2020

Strong growth in the fourth quarter, positive starting points for 2021.

March 5, 2021 – Sales in 2020 amounted to € 87.3 million, an increase of 7.5%, of which 1.0% was organic. In particular in those sectors that were hit hard by Covid-19, such as retail, there was a postponement or restriction of certain IT investments by customers. On the other hand, we see through a balanced spread across sectors that our exposure to more vulnerable sectors has remained relatively limited. In addition to the aforementioned effect represented a higher demand for IT services for optimizing the digital work environment working from home and working remotely.

“In 2020 we took a big step in our equity story. With the acquisition of Purple Square and Oliver IT, we have further strengthened our proposition in mobile apps, integration issues and project management. In an unprecedentedly challenging year, we have shown that we as an organization are agile and can respond quickly to changes in demand.

As a result of the pandemic, the digital transition will only accelerate in the coming years. Despite all the short-term uncertainties, we continued to roll out our strategy in 2020. We are our XV retail
software platform with a pricing and promotion engine. We have our labor market communication fine-tuned to increase the influx of new IT talent. With the termination of the activities in France, we can now fully focus on growth in the core markets of the Netherlands and Belgium. ”
Henny Hilgerdenaar, Ctac’s Chief Executive Officer

Highlights 2020

• Turnover + 7.5% to € 87.3 million; limited organic growth due to impact of Covid-19
• EBIT + 95.8% to € 4.7 million (margin: 5.4%); EBIT excluding one-off charges + 41.3% to € 6.5 million due to higher turnover, better operational discipline and cost reductions
• Net cash to € 10.6 mln through strict cash and working capital management
• Dividend proposal of € 0.08 per share of your choice (pay-out: 35%)
• Strategy on track to achieve turnover of € 100 million and EBIT margin of 8% in 2020

Highlights of the fourth quarter of 2020

• Turnover + 17.1% to € 24.0 mln; organic growth + 9.8% due to higher Consulting turnover
• EBIT comes to € 2.0 million, EBIT excluding one-off charges + 35% to € 2.7 million

“A stronger focus on costs and cash has resulted in a more efficient organization, a lower cost base and a more solid financial basis. We are continuing to build the Ctac of the future. With a revenue growth of 17.1%, the last quarter of 2020 was very strong We look with confidence to 2021, in which we expect to achieve an increase in sales and EBIT, unforeseen circumstances reserved. This brings the medium-term targets for 2022 within reach. ”

Pieter-Paul Saasen, Ctac’s Chief Financial Officer