ICM Unternehmensberatung GmbH, the Ismaning, Germany Sap R/3 implementor and computer consulting group has reported a 1998 increase in group sales of 125% to DM80.1m ($44m) while net income rose 436% to DM7.5m ($4.1m).
ICM, composed of 14 member companies, has built a core business around a wide ranging IT consulting practice, with particular expertise in chemicals, pharmaceuticals and branded goods industries. In its German domestic consulting group, sales increased 52.% to DM44.7m ($24.6m) last year, while the foreign consulting group created from the merger of two Italian and two US branches’ contribution increased 376.2% to DM30m ($16.5m). Three more recent branches, ICM Barcelona, ICM France and ICM UK are expected to make a contribution this year.
Outside its consulting business, ICM’s Midrange Division, which builds SAP systems for smaller companies, generated DM3m ($1.6m) in its first year of operation, while another new Division, Advanced Products and Services, added sales of DM2.4m ($1.3m).
ICM invested DM2.9m in expansion last year, and said it will markedly increase this investment in 1999. The company confirmed that it is considering a stock market flotation in the medium term.
