Ordina N.V. reports results for first quarter 2016; Improved results

Nieuwegein, 26 April 2016

Highlights Q1

• Recurring EBITDA rises to EUR 6.5 million (Q1 2015: EUR 4.1 million);
• Recurring EBITDA margin climbs to 7.3% (Q1 2015: 4.7%);
• Revenue up 1.5% at EUR 89.9 million (Q1 2015: EUR 88.5 million);
  • Revenue the Netherlands declines 2.3% to EUR 68.1 million (Q1 2015: EUR 69.7 million);
  • Revenue Belgium/Luxembourg climbs 15.6% to EUR 21.7 million (Q1 2015: EUR 18.8 million);
• Net debt position EUR 10.9 million (Q1 2015: EUR 7.0 million);
• Savings programme on track;
• Ordina Top Employer IT sector for fourth year in a row;
• Clockwork, Ordina's digital engagement bureau, once again nominated for the Dutch Interactive Award.

Stépan Breedveld, CEO Ordina, on the results
"Ordina's results improved in the first quarter, on the back of slightly higher revenue. The strong performances delivered by the Belgium/Luxembourg division continued and the results of the Dutch division improved in the course of the first quarter. Revenue in the financial services, industry and healthcare sectors came in higher and the decline in revenue from the public sector continued to level out in the period under review.

Ordina's tightened strategy, aimed at turning the decline in revenue into profitable growth, starts to bear fruit. The savings programme aimed at cutting costs by EUR 15 million a year is on schedule. We have now largely completed the organisational changes.

Growth and innovation are major priorities in our innovation agenda. To accelerate our innovation agenda, we have set an innovation cluster, which will create optimal growth conditions for parts of the company with an innovative or start-up character. Our efforts on the digital services front are also bearing fruit. Our digital engagement bureau, Clockwork, has once again been nominated for the Dutch Interactive Award.''

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About Ordina
Ordina is the largest independent IT services provider in de Benelux, with more than 2,800 employees. We devise, build and manage IT applications in the public sector, financial services sector, in industry and in healthcare. Our goal is IT that helps people. IT that matters and that has been developed without wasting resources. We do this by working with our clients in partnerships for sustainable innovation.

Ordina was founded in 1973. The company's shares have been listed on NYSE Euronext Amsterdam since 1987 and are included in the Small Cap Index (AScX). In 2015, Ordina recorded revenues of EUR 348 million. You will find additional information on our corporate website: www.ordina.com.

Additional information

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

Jeroen Hellenberg, Communications
Mail: [e-mail]
Telephone: [phone]

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

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

This document contains forward looking statements regarding the financial performance of Ordina N.V. and outlines certain plans, targets and ambitions based on current insights. Such forecasts are obviously not without risk and entail a certain degree of uncertainty since there are no guarantees regarding future circumstances. There are multiple factors that could potentially result in the actual results and outcomes differing from those outlined in this document. Such factors include: general economic trends, the pace of globalisation of the markets for solutions, IT and consulting, increased performance commitments, scarcity on the labour market, and future acquisitions and disposals.

 

Ordina N.V. reports results for first quarter 2016; Improved results

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Source: Ordina via Globenewswire

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