News

, December 18, 2008

Ordina announces measures for improvement of profitability

Nieuwegein, the Netherlands - Ordina announces measures for the structural improvement of profitability in 2009 and onwards. These measures follow the publication of the interim results, in which Ordina announced that it had the intention to increase profitability with EUR 10 million per annum. In order to maintain a financially sound position in a decreasing market, Ordina has increased the measures aimed at improving profitability.

Improving profitability 

By streamlining the organisation more efficiently and concentrating on realising all economies of scale and synergy advantages, Ordina expects to improve profitability from 2010 onwards by a total of EUR 25 million per annum. That more than doubles the improvement target of EUR 10 million per annum, as announced in August 2008. The measures are expected to result in an improvement of profitability by approximately EUR 15 million in 2009. The one-off costs relating to these measures are expected to amount to EUR 20 million to 25 million and will be charged to the P&L of 2008 as much as possible.

Reduction of costs and number of employees

The measures are focussed at centralising support activities and reducing overhead costs. Furthermore, the measures will result in the loss of approximately 350 employment positions, one third being overhead. Reducing the number of employment positions will take effect during the next year. Ordina has already engaged the Works Council.
 
On the 3rd of March 2009, Ordina will present the Annual Results for 2008.

About Ordina

With our more than 5,300-strong workforce, Ordina aims to improve the business processes of enterprises in the Benelux by providing advisory services, developing supporting applications or taking on a wide range of processes, including ICT. Ordina N.V. was incorporated in 1973. Ordina N.V. shares are quoted on Amsterdam's Euronext Stock Exchange, where they are included in the Midkap Index.

For more information, please contact:

Ordina N.V.
Saskia Huuskes, Director Corporate Communications
Telephone: + 31(0)30 - 6637402
www.ordina.com