Ordina records strong performance in 2020
FY 2020 highlights
Revenue declines to EUR 369.2 million (2019: EUR 372.3 million);
Revenue from business propositions increases to 38% in 2020 (2019: 32%);
EBITDA up at EUR 46.4 million (2019: EUR 36.7 million);
EBITDA margin higher at 12.6% (2019: 9.9%);
Net profit increases to EUR 22.3 million (2019: EUR 14.9 million);
Net cash at year-end 2020 EUR 44.4 million (year-end 2019: EUR 24.6 million);
Impact Covid-19 around EUR 3-4 million positive (1% EBITDA margin);
One-off increase of the proposed dividend from 60% to 100% of the net profit (23.9 eurocent per share)
Q4 2020 highlights
Revenue declines to EUR 92.9 million (Q4 2019: 94.1 million);
EBITDA higher at EUR 12.2 million (Q4 2019: EUR 9.6 million);
EBITDA margin increases to 13.1% (Q4 2019: 10.2%);
Employee engagement score increases to 7.5 (October 2020), from 7.1 (October 2019).
Jo Maes, Ordina CEO, on the results
“Ordina can look back on a strong year. We adapted quickly to the new situation as a result of Covid-19. We were able to continue to provide our services with virtually no problems and our teams successfully switched to working remotely. And by responding effectively to client demand on the digitalisation front, we recorded excellent results in 2020. This resulted in net profit of more than EUR 22 million. In 2020, we recorded above-average growth in revenue from our business propositions. Belgium and Luxembourg once again delivered strong performances. And we also performed well in the Netherlands, although our revenue did lag slightly.
Our Ordina 2022 strategy, focused on providing our clients with added value with our five business propositions, is well on track. Our clients are extremely satisfied with our IT solutions, which help them to realise their digital ambitions. For instance, Ordina has helped KBC transform the personal assistant Francis from a mobile app into a full-fledged digital platform. Our employees have also embraced our strategy and say they really appreciate working in teams. This is once again reflected in the higher employee engagement score we recorded in 2020.
We have entered a new phase, in which we will focus on the acceleration of our growth. To make this possible, we strengthened our management team and appointed Joost de Bruin as CEO for Ordina the Netherlands, in line with our appointment some years ago of Lieven Verhaevert as CEO for Belgium/Luxembourg. We will focus on both organic and non-organic growth to accelerate the penetration of our business propositions in a number of niche markets.
I could not be more proud of how our people, in close collaboration with our clients, got their work done last year. It is thanks to their dedication and adaptability that we, as Ordina, delivered an outstanding performance in 2020.”
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