Ordina records a profit in 2016 and resumes dividend payment
Key developments FY 2016
- Recurring EBITDA rose to EUR 21.1 million (2015: EUR 13.8 million);
- Recurring EBITDA margin rose to 6.1% (2015: 4.0%);
- Revenue declined by 1.3% to EUR 343.6 million (2015: EUR 348.3 million);
- Revenue the Netherlands down 5.8% at EUR 256.1 million (2015: EUR 272.0 million);
- Revenue Belgium/Luxembourg up 14.6% at EUR 87.5 million (2015: EUR 76.3 million);
- Redundancy costs came in at EUR 6.0 million (2015: EUR 7.8 million);
- Net profit amounted to EUR 5.0 million (2015: net loss of EUR 3.2 million);
- Proposal to pay a dividend of 2 euro cents per share;
- Ordina acquired 11 IT outsourcing framework contacts in the Dutch public sector;Top Employer ICT for fourth year in a row.
Key developments Q4 2016
- Recurring EBITDA dropped to EUR 5.1 million (Q4 2015: EUR 6.8 million);
- Recurring EBITDA margin dropped to 6.1% (Q4 2015: 7.5%);
- Adjusted for exceptional items and the effect of workable days, EBITDA came in higher;
- Revenue was 7.3% lower at EUR 84.2 million (Q4 2015: EUR 90.8 million);
- Revenue the Netherlands declined by 10.9% to EUR 61.8 million (2015: EUR 69.3 million);
- Revenue Belgium/Luxembourg rose by 4.4% to EUR 22.4 million (2015: EUR 21.5 million);
- Net cash position declined to EUR 2.7 million (year-end 2015: EUR 4.5 million).
Stépan Breedveld, CEO Ordina, about the results
“Despite a disappointing fourth quarter, we closed 2016 in profit and free of debt. Revenue declined in the year under review, with the largest declines in the Dutch public sector and in the financial services sector. Revenue and profitability increased significantly in Belgium/Luxembourg. In the Netherlands, the units specialising in requirements, software development and testing all delivered strong performances. All our attention is now focused on transforming this decline into growth in the Netherlands. The 11 IT outsourcing framework contacts we recently acquired in the Dutch public sector will serve as a solid foundation for this growth.
In addition, retaining and recruiting employees is crucial in the current tight labour market. In 2017, we will be looking to hire 700 professionals in the Netherlands and Belgium/Luxembourg. The labour market campaign ‘Do you look beyond the code?’ will back up this ambition.
In 2016, more than 900 participants attended the Ordina Open Innovation Days in Nieuwegein, Mechelen and Groningen. Innovation is also about the smart combination of our existing and new expertise in multi-disciplinary teams. This is how we are making the transition from a technology-driven to a business-driven client approach. For instance, we combined the management of the SAP environment with the development of a new online strategy for the Rotterdam Port Authority.”
For more information on this press release
Joyce van Wijnen, Investor Relations
Telephone: +31 (0)30 663 7000
Eveline Rogier, Communications
Telephone: +31 612584309
Herbert van Zijl, Communications
Telephone: +31 612765226