Ordina N.V. reports results for first quarter 2016

Improved results

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.’’