Ordina records revenue growth in first half of 2021
Ordina N.V. (Ordina), an independent IT services provider in the Benelux, today presents its 2021 interim results and the highlights for the second quarter of 2021.
H1 2021 highlights
- Revenue rises by 4.1% to EUR 195.7 million (H1 2020: EUR 188,0 million);
- Share of revenue from business propositions rises to 39% in H1 2021 (H1 2020: 37%);
- EBITDA increases to EUR 24.4 million (H1 2020: EUR 22.9 million);
- EBITDA margin increases to 12.5% (H1 2020: 12.2%);
- Net profit rises to EUR 11.9 million (H1 2020: EUR 10.3 million);
- Net cash position at end of H1 EUR 26.8 million (end of H1 2020: EUR 31.0 million).
Q2 2021 highlights
- Revenue rises by 3.9% to EUR 95.4 million (Q2 2020: EUR 91.8 million);
- EBITDA declines to EUR 8.7 million (Q2 2020: EUR 10.8 million);
- EBITDA margin came in at 9.1% (Q2 2020: 11.7%);
- Employee engagement score rises to 7.7 (May 2020: 7.4).
Jo Maes, Ordina CEO, on the results
“We delivered a strong performance and recorded growth in the first half of this year. We increased revenue by 4.1% and net profit rose to EUR 11.9 million. Belgium and Luxembourg continued to deliver strong performances, and we also recorded growth in the Netherlands.
Our higher revenue was driven by more contracts based on our five business propositions and an increase in the deployment of our professionals in teams. The primary sources of the higher revenue were the public sector with our High performance teams and the industry sector with our Cybersecurity & compliance solutions. This led to an increase in the share of revenue from our business propositions to 39% in the first half of 2021, compared with 37% in 2020.
Despite the tight labour market, we managed to increase the number of our own employees in the second quarter. We supported our recruitment efforts with a successful labour market campaign. We will continue to focus fully on recruitment and engaged employees in the second half of this year. The employee engagement survey we conducted in May resulted in a higher average satisfaction score of 7.7. Our colleagues greatly appreciate the collaboration on complex challenges at our clients and value the career opportunities within Ordina.”