€ 34m in ICT contracts in the UK:
Today, Imtech announced it has been awarded several contracts in the UK for ICT services, worth in total € 34m. Clients are the BBC and a government agency whose name was not disclosed (MI5 or MI6 perhaps?).
CEO van der Bruggen:
‘Imtech is able to take advantage of changing circumstances in the European IT market. This has led to growth in the number of orders received in the UK too for distinctive IT solutions in managed services, business intelligence and high-tech network solutions.’
The intake YTD as communicated via press releases amounts to € 131m (adjusted for multi-year contracts). This compares to € 292 in Jan-11 and € 20m in Jan-10. Obviously, the y/y trend is not indicative because January 2011 was extremely busy re press releases of large orders, and large orders represent only an estimated 20% of sales. In this respect, the year-end 2011 backlog of circa € 5,8bn (+11% y/y) is a more relevant indicator for sales growth going forward.
No impact on estimates:
These new orders have no impact on our estimates or the investment case.