CTAC N.V. : Soft set of results marked by slowdown in IT investments
>A difficult start of the year - CTAC reported its Q1 2024 results this morning which came on the soft side. Revenue was € 30.6m, which is 1.3% below our estimate and declining 7.0% YoY. EBITDA came in at € 2.0m, declining 20% YoY and leading to a profitability margin of only 6.5% (vs 7.6% in Q1 2023). Margin compression was a consequence of declining productivity, whereby CTAC faced difficulties last quarter managing its bench of staffers due to shortage of IT projec...Ctac is an Information and Communication Technology (ICT) service supplier based in the Netherlands. Co. specializes in setting up, maintaining and updating its clients' ICT infrastructure, offering them customized products and services at the interface of business and ICT. In addition, Co. offers business consultancy services and Composed Solutions (modular cross-industry solutions). Co. is also a Systems Applications Products (SAP) Gold Partner and Microsoft Gold Partner, engaged in SAP reselling to medium-sized companies in the Netherlands. Co. spreads its business activities across four focal areas: SAP services, Managed services, Microsoft services, and other services.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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