Ordina N.V. results first quarter 2015

Turnover declines, limited impact on margin - Seite 3

Growth and innovation
Our salesforce effectiveness programme should contribute to an increase in productivity. Our Commerce department will be working in smaller teams with a more clearly defined specialisation in terms of delivery models.
We will accelerate our positioning as an innovative IT partner. We have defined a number of 'growth diamonds' in which we join forces with our clients to experiment with innovative applications that add value to their business. It is also important in this context that we expand and intensify our ties with universities, start-ups and knowledge centres to arrive at co-creation with those organisations.   
 
Employees
At the end of the first quarter of 2015, the number of direct employees was up by 7 FTEs, partly as a result of the intensified recruitment of Young Professionals. The number of indirect employees was up by 6 FTEs, who filled existing vacancies.  
In order to further improve productivity, we are making pro-active investments in the training and education of our employees using a T-shaped approach. This means that in addition to training in technical competencies, we are also investing in business know-how and soft skills.   
    
 

Financing
The net debt stood at EUR 7.0 million at the end of Q1 2015, an improvement compared to the first quarter of 2014 (Q1 2014: EUR 12.4 million). When compared to year-end 2014, the net debt position increased by EUR 16.6 million, largely as a result of regular seasonal influences (Q4 2014: EUR 9.6 million cash positive). The ratio of net debt / adjusted EBITDA stood at 0.8 (maximum leverage ratio: less than or equal to 1.50) and the Interest Cover Ratio stood at 8.6 (minimum interest cover ratio: more than or equal to 5.0). The ratios are therefore well within the limits agreed in the bank covenants.


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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.