INTERIM RESULTS ORDINA N.V. H1 2014 IMPROVEMENT OF PROFITABILITY CONTINUES IN Q2; STABLE TURNOVER

Nieuwegein, 26 August 2014

Highlights Q2 2014

• Recurring EBITDA increased to EUR 3.6 million (Q2 2013: EUR 1.1 million);
• Recurring EBITDA margin increased to 3.9% (Q2 2013: 1.2%);
• Turnover stable at EUR 91.7 million (Q2 2013: EUR 91.9 million after correction for the effect of one extra working day in Q2 2014);
• Net debt position fell to EUR 8.0 million (end-Q2 2013: EUR 18.7 million), the ratio net debt / adjusted EBITDA stood at 0.4 (maximum leverage ratio: less than or equal to1.5).

Highlights H1 2014

• Recurring EBITDA increased to EUR 8.3 million (H1 2013: EUR 3.6 million);
• Recurring EBITDA margin increased to 4.5% (H1 2013: 2.0%);
• Turnover stable at EUR 185.2 million (H1 2013: EUR 185.8 million after correction for the effect of one extra working day in Q2 2014);
• Net profit increased to EUR 0.1 million (H1 2013: EUR -2.4 million);
• Employee engagement declined to 6.4 from 6.7;
• Clockwork winner of the Dutch Interactive Award 2014 following relaunch.

Stepan Breedveld, CEO Ordina, about the results          
"We realised a clear increase in net profit on stable turnover in the second quarter of this year compared to the same period of last year. This was largely due to the decline in indirect costs. We are also proud of the improvement in profitability of the Belgium/Luxembourg division. We see that our operational excellence programme is clearly bearing fruit. Finally, we made further improvements to our net debt position, which gives us a strong foundation for the future.

Our innovation programme is on course. As part of this programme, we will once again be organising the Ordina Open Innovation Day in October. This is a day that we get together with our clients and focus on the question of how IT can help the public sector improve its services. This year, we also repositioned our company Clockwork as the ultimate digital engagement agency in the Benelux region. Many organisations are struggling to find a way to once again become a part of their clients' lives. This requires IT that is truly aligned with end-users' everyday experience. Developing these kinds of IT solutions is how we fulfil our mission: 'Partnerships in Sustainable Innovation'. 

This year, employee engagement slightly declined from 6.7 to 6.4. A study revealed that the 2013 reorganisation has had an impact on our employees. Our ambition remains high with a minimum score of 7.0.

Ordina was nominated this year for the Computable Awards in the category 'Best IT services provider of the year' thanks to the realisation of the shared emergency call centre for the emergency services in the Haaglanden region. In addition to delivering high quality technology that really works, we also succeeded in keeping all emergency services to one line, clearing the path for a successful launch of the new call centre. I am proud of that achievement, because this is an example of how we ensure that IT truly does work for people again." 

Outlook                               
We decline to give an outlook for the coming period.

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About Ordina
Ordina is the largest independent IT services provider in the Benelux. We design, build and maintain IT solutions for organisations in the public sector, in financial services, industry and the healthcare sector. We aim to design IT solutions that help people, IT that matters and that is produced without wasting precious resources. We do this by forging Partnerships in Sustainable Innovation with our clients.

Ordina was founded in 1973. The company's shares have been listed on the NYSE Euronext Amsterdam since 1987 and are included in the Small cap Index (AScX). In 2013, Ordina recorded turnover of EUR 377 million. For more information visit the website at www.ordina.com.

Additional information
For more information about this press release:
Annemieke den Otter, Investor Relations
Mail: [e-mail]
Telephone: [phone]

Jolanda Poots-Bijl, CFO
Mail: [e-mail]
Telephone: [phone]

Stépan Breedveld, CEO
Mail: [e-mail]
Telephone: [phone]

 

 

Ordina press release interim results 2014

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Source: Ordina via Globenewswire

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