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First half results 2018 Ordina N.V.

02 Aug 2018

Improvement continues

Highlights H1 2018

  • Net profit EUR 5.1 million (H1 2017: EUR 1.0 million);

  • EBITDA of EUR 10.2 million (H1 2017: EUR 7.0 million);

  • EBITDA margin 5.7% (H1 2017: 4.1%);

  • Revenue up 4.6% at EUR 178.9 million (H1 2017: EUR 171.0 million);

    • Revenue in the Netherlands up 2.4% at EUR 128.3 million (H1 2017: 125.3 million);

    • Revenue in Belgium/Luxembourg up 10.6% at EUR 50.6 million (H1 2017: 45.7 million);

  • Recruitment of new employees successful, inflow up by 35%.

Highlights Q2 2018

  • EBITDA of EUR 4.1 million (Q2 2017: EUR 2.7 million);

  • EBITDA margin 4.7% (Q2 2017: 3.2%);

  • Revenue up 4.8% at EUR 87.6 million (Q2 2017: EUR 83.6 million);

    • Revenue in the Netherlands up 2.9% at EUR 63.1 million (Q2 2017: EUR 61.3 million);

    • Revenue in Belgium/Luxembourg up 9.9% at EUR 24.5 million (Q2 2017: EUR 22.3 million);

  • Net cash position improved to EUR 2.9 million (end-Q2 2017: EUR 2.2 million);

  • New contracts in the field of Business platforms in industry and public sectors.

Jo Maes, CEO Ordina, about the first half

“Our company recorded a further improvement in revenue and profit in the first half of the year. In the Netherlands, the revenue improvement was particularly marked in the public sector. This growth was driven by the IT framework agreements we closed in a previous period, the deployment of our High performance teams and increased revenue from management contracts. Our operational improvements are paying off. Returns are being boosted by lower expenses and higher productivity levels. Belgium/Luxembourg continues to perform well, with revenue up 10.6%, partly on the back of new contracts with clients in the financial services sector.

Thanks to the undiminished strong demand for our services, we have set our sights firmly on growth with own employees. The outflow of employees is still too high. The good news is that we recruited 35% more employees than we did in the first half of 2017. Our Young Professional programme is proving a success: 133 Young Professionals joined the company in the first half of the year, almost double the number from last year.

Our recognisable go-to-market strategy with five clear business propositions is focused on helping our clients to realise continuous improvement and innovation on a structural basis. Many organisations are now realising that their IT environment has become too complex. Under the umbrella of the Business platforms proposition, we are reducing the complexity of core systems and making sure they operate more efficiently. This gives our clients the opportunity to innovate by using smart data. In the first half of this year, we won a number of significant Business platform-related contracts in the industry and public sector.”

Ordina interim results 2018