Ordina

Interim results 2020 Ordina N.V.

Ordina delivers strong performance in first half of 2020

Nieuwegein, 30 July 2020 – Ordina N.V. (Ordina), a local, independent IT services provider in the Benelux, today presents the results for the first half of 2020 and the key figures for the second quarter of 2020.

H1 2020 highlights

  • Revenue remains stable at EUR 188.0 million (H1 2019: EUR 186.9 million);
  • Revenue from business propositions increases to 37% in H1 2020 (H1 2019: 32%);
  • EBITDA increases to EUR 22.9 million (H1 2019: EUR 17.1 million);
  • EBITDA margin increases to 12.2% (H1 2019: 9.2%);
  • Net profit higher at EUR 10.3 million (H1 2019: EUR 6.0 million);
  • Net cash at end-H1 EUR 31.0 million (at end-H1 2019: EUR 6.5 million).

Q2 2020 highlights

  • Revenue remains stable at EUR 91.8 million (Q2 2019: EUR 92.3 million);
  • EBITDA increases to EUR 10.8 million (Q2 2019: EUR 8.5 million);
  • EBITDA margin higher at 11.7% (Q2 2019: 9.2%);
  • Employee engagement score increases to 7.4 (May 2020), from 7.1 (October 2019);
  • COVID-19 has limited impact on results.

Jo Maes, CEO Ordina, about the results      

“Ordina had a strong first half of the year. Despite COVID-19 and the ensuing uncertainties, we succeeded in limiting the impact on our results. I am grateful to our clients and employees for their flexibility; working in cooperation with our clients, we managed to switch to working from home in a short space of time.

Our strong performance is the result of a greater number of teams of our own professionals, more contracts based on our business propositions and more efficient operations. This puts us on track with the execution of our Ordina 2022 strategy: our revenue from business propositions increased to 37% in the first half of the year, compared to 32% in the first half of 2019. As a top services provider, we help our clients to develop, maintain and accelerate a digital edge. Making sure they are Ahead of change for the challenges of the future.

We are obviously following COVID-19-related developments closely. We can see that some sectors have been more badly affected by the COVID-19 measures than others. This is why we put our dividend proposal and recruitment of IT professionals on hold in the first half. However, we are now planning to expand our recruitment efforts once again.

Our financial results, cash position and progress in the execution of our strategy put us in a strong position for the future. However, in view of the uncertain outlook, we believe caution remains necessary. In every step we take, we put the stability of our company, the care for our employees and the engagement with our clients first.”

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