News

, August 28, 2012

Press release Interim report Ordina N.V. H1 2012

STEADY MARGIN

HIGHLIGHTS FIRST HALF 2012

  • Recurring EBITDA-margin maintained at 3.7% (H1 2011: 3.7%);
  • Recurring revenue down 7.8% at EUR 201.9 million (H1 2011: EUR 219.0 million) and recurring EBITDA dropped 6.4% to EUR 7.6 million (H1 2011: EUR 8.1 million);
  • Reorganisation costs reduced to EUR 3.0 million (H1 2011: EUR 7.2 million);
  • Net result improved strongly to EUR -1.7 million (H1 2011: EUR -7.7 million);
  • Net debt position EUR 20.4 million (end-H1 2011: EUR 52.8 million), net debt / adjusted EBITDA ratio 1.3 (H1 2011: 2.7);
  • Improvement in company profile in terms of innovation as a result of targeted proposition development;
  • Various new contracts from the Ministry of Economic Affairs, Agriculture and Innovation, various other ministries together with Corso, Central Agency for the Reception of Asylum seekers (COA), Halt, Europol and a leading logistics service provider in Belgium.

 

STÉPAN BREEDVELD, CEO ORDINA, ABOUT THE RESULTS

“We are maintaining our profitability in a challenging market. The measures we introduced in 2011 and in the period under review aimed at the reduction of personnel costs, increased flexibility in employment terms and controlling indirect costs are clearly having a positive effect. We will continue to put focus on these areas of interest in the future. We have also noted a substantial improvement in our profile in the field of innovation. The investments we have made in propositions in the fields of Mobile, Security, Cloud, Big Data, Social Media, Smart Sourcing and Unified Communications are resulting in additional client contracts. In the first half of 2012, the market also recognised our innovative activities. Agrosense, our solution for the agriculture and horticulture sector, won the ICT-Office Environmental Award and our ERP solution for the food sector received Oracle’s 2012 Accelerate Award.
 
Thanks to the introduction of regional sales, we are now closer to our clients and in a better position to connect with our customers. In September we will be opening new offices in Apeldoorn to boost our regional approach in that area.

The confidence in the organisation has increased, which has translated into an increase in the employee engagement score to 6.2, significantly higher than the 5.7 we scored in 2011. This is an important step on the journey to the level of employee engagement we want to achieve for Ordina.”

 

OUTLOOK

The economic outlook and the developments in the markets in which Ordina operates remain uncertain. This is true for both the Netherlands and Belgium. This means it is difficult to predict revenue developments and thus profit. We have therefore decided to refrain from giving an outlook for the upcoming period.

 

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