-
- News
- Books
Featured Books
- pcb007 Magazine
Latest Issues
Current IssueThe Legislative Outlook: Helping or Hurting?
This month, we examine the rules and laws shaping the current global business landscape and how these factors may open some doors but may also complicate business operations, making profitability more challenging.
Advancing the Advanced Materials Discussion
Moore’s Law is no more, and the advanced material solutions to grapple with this reality are surprising, stunning, and perhaps a bit daunting. Buckle up for a dive into advanced materials and a glimpse into the next chapters of electronics manufacturing.
Inventing the Future With SEL
Two years after launching its state-of-the-art PCB facility, SEL shares lessons in vision, execution, and innovation, plus insights from industry icons and technology leaders shaping the future of PCB fabrication.
- Articles
- Columns
- Links
- Media kit
||| MENU - pcb007 Magazine
ICAPE Group Announces Strong Improvement in 1H 2023 Results
September 28, 2023 | ICAPE GroupEstimated reading time: 2 minutes
ICAPE Group, a global technology distributor of printed circuit boards (PCB), announced its half-year results for the first half of 2023, ended on June 30, 2023, and approved by the Board of Directors on September 26, 2023.
Yann Duigou, ICAPE Group’s CEO, stated: "ICAPE Group delivered a notable performance in the first half of the year, with a marked improvement in results despite the difficult context that affected the whole sector. Despite the current industrial environment, we maintain our profitability indicators while pursuing our growth trajectory. Achievements in the first half are the result of the gradual activation of synergies arising from our acquisition strategy. With a stronger cash position, ICAPE Group intends to pursue this policy of external growth, which will provide us with substantial additional revenue in the short and medium term. Advanced discussions are in progress with several players in the PCB industry, some of which should be finalized before the end of 2023."
Commercial activity and financial results
As of June 30, 2023, half-year revenue went down by 12.1% compared to the first half of 2022 and reached €94.5 million, restated for the disposal of DIVSYS activities in the United States and of the Russian subsidiary. An unfavorable economic context, which impacted the entire industry, justifies this lower level of activity. According to the latest study published by Prismark1, its evolution remains significantly higher than that of the PCB market, which declined by 20.9%.
The evolution of the product mix, together with enhanced operating efficiency following the acquisitions made, ensured a reduction in the cost of good sold, and enabled the Group to record an increase in its gross margin of +6 basis points over the period, restated for assets being sold, to €24.4 million in the first half of 2023, representing 25.8% of revenue.
Expenses allocated to salary amounted to €13.1 million, up by 7.5% compared to the first half of 2022, reflecting the various acquisitions made over the past two years. At the same time, administrative expenses fell by a net 10.6% to €4.2 million, reflecting the Group's improved operating efficiency.
Taking all these factors into account, EBITDA margin improved by 3.4 basis points over the period, to 7.5%. Operating income recurring and net income are on a similar positive trajectory, reaching €4.8 million (+78%) and €1.9 million (+118%) respectively by the end of June 2023.
As of June 30, 2023, the Group's cash position stood at €25.3 million, consolidated by the unanimous agreement obtained from its banking syndicate to release €13 million in financing, of which €5 million had been drawn down by June 30, 2023. With financial debts of €48.9 million, ICAPE Group had net financial debt of €23.6 million as of June 30.
Testimonial
"The I-Connect007 team is outstanding—kind, responsive, and a true marketing partner. Their design team created fresh, eye-catching ads, and their editorial support polished our content to let our brand shine. Thank you all! "
Sweeney Ng - CEE PCBSuggested Items
Curtiss-Wright to Supply Turret Drive Stabilization Systems for U.S. Army XM30 Combat Vehicle Prototypes
10/16/2025 | BUSINESS WIRECurtiss-Wright Corporation announced that it has been selected by American Rheinmetall to provide its Turret Drive Stabilization System (TDSS) for the prototype phase of the U.S. Army’s XM30 Combat Vehicle (CV) program, which was recently approved to advance to Milestone B, the Engineering and Manufacturing Development (EMD) phase.
Episode 6 of Ultra HDI Podcast Series Explores Copper-filled Microvias in Advanced PCB Design and Fabrication
10/15/2025 | I-Connect007I-Connect007 has released Episode 6 of its acclaimed On the Line with... American Standard Circuits: Ultra High Density Interconnect (UHDI) podcast series. In this episode, “Copper Filling of Vias,” host Nolan Johnson once again welcomes John Johnson, Director of Quality and Advanced Technology at American Standard Circuits, for a deep dive into the pros and cons of copper plating microvias—from both the fabricator’s and designer’s perspectives.
American Standard Circuits Achieves Successful AS9100 Recertification
10/14/2025 | American Standard CircuitsAmerican Standard Circuits (ASC), a leading manufacturer of advanced printed circuit boards, proudly announces the successful completion of its AS9100 recertification audit. This milestone reaffirms ASC’s ongoing commitment to the highest levels of quality, reliability, and process control required to serve aerospace, defense, space, and other mission-critical industries.
Imec Launches 300mm GaN Program to Develop Advanced Power Devices and Reduce Manufacturing Costs
10/13/2025 | ImecImec, a world-leading research and innovation hub in nanoelectronics and digital technologies, welcomes AIXTRON, GlobalFoundries, KLA Corporation, Synopsys, and Veeco as first partners in its 300mm gallium-nitride (GaN) open innovation program track for low- and high-voltage power electronics applications.
Renesas Powers 800 Volt Direct Current AI Data Center Architecture with Next-Generation Power Semiconductors
10/13/2025 | RenesasRenesas Electronics Corporation, a premier supplier of advanced semiconductor solutions, announced that it is supporting efficient power conversion and distribution for the 800 Volt Direct Current power architecture announced by NVIDIA, helping fuel the next wave of smarter, faster AI infrastructure.