Ordina records strong first quarter 2022
Nieuwegein, 26 April 2022 – Ordina N.V. (Ordina), the digital business partner that harnesses technology and market know-how to give its clients an edge, today presents its results for the first quarter of 2022.
Q1 2022 highlights
- Revenue rises by 10.4% to EUR 110.7 million (Q1 2021: EUR 100.3 million);
- EBITDA increases to EUR 17.3 million (Q1 2021: EUR 15.7 million);
- EBITDA margin comes in at 15.6% (Q1 2021: 15.7%);
- Net profit climbs to EUR 9.3 million (Q1 2021: EUR 8.4 million);
- Net cash position stands at EUR 53.0 million at end-Q1 2022 (end-Q1 2021: EUR 49.7 million);
- Acquisition of 13.5 hectares of land to realise first Ordina forest.
Jo Maes, Ordina Group CEO, on the results
“Ordina can look back at a strong first quarter. We have continued to grow successfully with our business propositions and we have continued to grow strongly with our own employees. As a result, revenue rose sharply and net profit also increased again. The good results show that, as a digital business partner, we are on the right track with our strategy. For instance, we are recording excellent successes with our SmartMove Solution where we help our clients to switch to SAP S/4 HANA.
Market demand for digitalisation remains high. At the same time, rising inflation is increasing salary pressure in an already tight labour market. In addition, our customers are affected by geopolitical tensions and disruptions in the energy market and supply chain. These developments could have an impact on our results. Despite this risk, we reiterate our annual target of a 12-14% EBITDA margin.
Given these developments, the successful execution of our strategy is even more important. We will therefore expand our portfolio by adding a number of significant market themes that our customers will face in the coming years. For our current and future employees, the expansion of our portfolio means more substantively challenging work and broader career prospects.
We are also taking steps in our ESG strategy, which includes our goal to become carbon neutral. In addition to reducing our CO2 emissions, we are also working to offset them by converting land into forest. We will plant 25,000 trees this year in the Belgian municipality of Pelt, where we are realising our first piece of forest.”