In the last eight days, Netcompany has won two frame agreements in Holland within the public sector. In the initial information about the frame agreements, no contract value was included, but since then more details about the frame agreement announced on 27 July have been disclosed by the customer. According to the customer, Logius (the digital government service of the Netherlands Ministry of the Interior and Kingdom Relations), the total value of the frame agreement is as much as EUR 255m. Five vendors have been selected (Atos, Capgemini, CGI, Netcompany and Ordina), and the frame agreement runs for two years with the option to extend it by up to four years. Being a frame agreement, no volumes have been guaranteed, and hence the five vendors will now compete for IT projects covered by the frame agreement. Still, given our 2021 revenue estimate for Netcompany Holland of DKK 148m, even a smaller market share will make a visible difference to Netcompany and could contribute to continued strong revenue growth. Besides the revenue potential, the win also signals Netcompany’s strong track record within digitalisation, which enables it to compete against some of the biggest IT consulting firms in Europe.

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