FONTENAY-AUX-ROSES, FRANCE – Icape Group reported annual revenue of €219.6 million ($234.9 million), an increase of 34% compared to 2021.

Icape previously announced that it would be disposing of its Russian subsidiary and its Divsys business in the United States in 2023, which represents a small amount of the group's revenue.

"2022 was pivotal for ICAPE Group. The success of the IPO in July 2022 enabled us to efficiently deploy the acquisition strategy and to structure the industrial strategy, thus consolidating and extending the Group's presence in mature European markets," said CEO Cyril Calvignac. "These operations enabled us to secure more than €35 million of additional revenue in 2022, in line with our objectives. This momentum was not achieved at the expense of organic growth, which remained solid over the period, up 12% compared to 2021. In order to optimize its current organization, ICAPE Group decided to dispose of some assets considered as non-strategic, namely the subsidiary in Russia and its electronic board assembly business DIVSYS in the United States. The impact of these disposals will not be significant for the Group (3.5% of 2022 revenue) and should improve profitability in the short term. All these elements allow us to reaffirm our short and medium term commercial and financial objectives."