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© Patrik Blomqvist PCB | September 08, 2022

ICAPE’s convinced it will achieve its goals

The first half of 2022 has passed and PCB supplier ICAPE Group can show a revenue increase of 50% – the company also left the year's first half with an order book of EUR 71.8 million.

“This first half-year is in line with the historical dynamics of strong growth that ICAPE Group is experiencing. Driven by favorable market trends and the acceleration of our acquisitions, the solid commercial performance achieved over the period confirms our development strategy, combining a historical model of organic growth with a new dynamic of external growth. In this context, we are convinced that we will achieve our short and medium-term commercial and financial objectives, and we reaffirm our revenue and external growth targets for the end of 2022,” says CEO Cyril Calvignac, in a press release.

The PCB supplier recorded half-year revenues of EUR 110.2 million, an increase of more than 50% compared to the first half-year of last year. ICAPE says that the strong growth was notably driven by Europe and the United States. At the end of June, the PCB group had recorded an order book of EUR 71.8 million.

During the period, the ICAPE also benefited from the performance of two acquisitions – which were realised in the first half of the year – namely Cebisa in France and SAFA in Germany. The two acquired companies achieved revenues of EUR 2.8 million and EUR 16 million respectively in 2021. Adjusted for these acquisitions, growth in the first half of 2022 was over 25%, the company explains in the press release.

The company goes on to say that it continues to capitalise on major trends affecting the electronics market, namely technological innovation driven by 5G, connected objects, e-mobility and the energy transition in general.

Based on the performances achieved during the period, ICAPE reaffirms its ambition to reach a revenue of about EUR 230 million by the end of 2022.

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September 29 2022 3:24 pm V20.8.40-1
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