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Continued profitable growth
Highlights Q1 2019
Revenue increase of 3.6% to EUR 94.6 million (Q1 2018: EUR 91.3 million);
Revenue the Netherlands up 0.2% at EUR 65.4 million (Q1 2018: EUR 65.2 million);
Revenue Belgium/Luxembourg up 12.1% at EUR 29.2 million (Q1 2018: EUR 26.0 million);
One working day less in the Netherlands and Belgium/Luxembourg in Q1 2019 (impact around EUR 1.3 million on revenue and around EUR 1.0 million on EBITDA);
EBITDA of EUR 5.7 million (Q1 2018: EUR 6.0 million)¹;
EBITDA margin 6.1% (Q1 2018: 6.6%)¹;
Net profit of EUR 3.1 million (Q1 2018: EUR 3.2 million);
Net cash position EUR 9.8 million (Q1 2018: net debt EUR 0.7 million).
Jo Maes, CEO Ordina, about the results
“We booked profitable growth in the first quarter of 2019. Belgium/Luxembourg once again performed well in this first quarter, with a slightly higher level of expenditure due to planned investments in the recruitment and hiring of new people and the opening of two new offices. We also saw strong growth in the healthcare market in Belgium/Luxembourg, on the back of successes in the pharmaceutical industry. We also saw a continuation of healthy growth and an improved result in the Netherlands, partly due to the fact that we increasing meeting client demand with our own employees. Our Dutch operations continued to perform strongly in the public sector and the financial sector. And once again we saw that our five targeted propositions are providing an increasingly effective response to market demand. One prime example of our business proposition Intelligent data-driven organisations is the contract for the high-speed rail service Eurostar, in which Ordina will optimise the staff and maintenance planning.”