Ordina

Ordina N.V. publishes results third quarter 2020

Good third quarter, Strategy on track

Ordina proposes pay-out of interim dividend.

YTD 2020 highlights

  • Revenue declines by 0.6% to EUR 276.4 million (YTD 2019: EUR 278.2 million);
  • EBITDA rises to EUR 34.2 million (YTD 2019: EUR 27.1 million);
  • EBITDA margin increases to 12.4% (YTD 2019: 9.7%);
  • Net profit higher at EUR 15.3 million (YTD 2019: EUR 10.0 million);
  • Net cash position at end-Q3 EUR 40.3 million (end-Q3 2019: EUR 10.9 million);
  • Proposal to pay out interim dividend of 9.5 eurocents per share.

Q3 2020 highlights

  • Revenue declines 3.3% to EUR 88.3 million (Q3 2019: EUR 91.3 million);
  • EBITDA rises to EUR 11.3 million (Q3 2019: EUR 10.0 million);
  • EBITDA margin increases to 12.8% (Q3 2019: 10.9%);
  • Net profit higher at EUR 5.0 million (Q3 2019: EUR 4.1 million).

Jo Maes, CEO Ordina, on the results           

“Ordina can look back on a good third quarter. Our services based on our High performance teams and business propositions recorded above-average growth. The reduction in the number of external employees led to a decline in our revenue but the fact that we managed to improve our return and the rapid increase in revenue from our business propositions shows that we are making ever more progress in our strategy of accelerating digitalisation at our clients.

From a financial point of view, COVID-19 has had a negligible impact on our company. We are grateful to our teams and our clients that they proved able and willing to work together remotely and continue our services. However, the outlook is uncertain and we are alert to any developments in the market. We are also taking additional measures to safeguard the mental and physical health of our people.

Our solid financial results have resulted in a strong balance sheet, which gives us an adequate buffer, even in this period of uncertainty. This is why Ordina now proposes to pay out the previously cancelled dividend of 9.5 eurocents per share in the fourth quarter of 2020.  Our cash position and our returns are improving. But we are also keeping a close eye on the second wave of COVID-19 pandemic, for both risks and opportunities. We will give an update on our dividend policy in the first quarter of 2021.”

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