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Ordina presents annual results 2021

04 Nov 2021

Growth with own employees and high performance teams.

Ordina continues growth in third quarter of 2021

Ordina N.V. (Ordina), an independent IT service provider in the Benelux, today presents its results for the third quarter of 2021.

YTD 2021 highlights

  • Revenue up by 5.1% to EUR 290.5 million (YTD 2020: EUR 276.4 million);

  • EBITDA rises to EUR 35.7 million (YTD 2020: EUR 34.2 million);

  • EBITDA margin comes in at 12.3% (YTD 2020: 12.4%);

  • Net profit climbs to EUR 17.0 million (YTD 2020: EUR 15.3 million);

  • Net cash position at end-Q3 EUR 35.3 million (end-Q3 2020: EUR 40.3 million).

Q3 2021 highlights

  • Revenue up by 7.3% at EUR 94.8 million (Q3 2020: EUR 88.3 million);

  • EBITDA remains the same at EUR 11.3 million;

  • EBITDA margin declines to 11.9% (Q3 2020: 12.8%);

  • Net profit rises to EUR 5.2 million (Q3 2020: EUR 5.0 million).

Jo Maes, Ordina Group CEO, on the results

“We continued our growth in the third quarter, both in Belgium and Luxembourg and in the Netherlands. Clients now see us increasingly as a strategic partner in their transformation process. This is why our business propositions accounted for biggest share of our revenue growth in the past quarter, and growth in all our market segments. We currently have 141 high performance teams working at our clients in the Benelux. We recorded another strong third quarter, while the result was impacted by the higher number of leave days taken due to the easing of the Covid-19 restrictions.

We reinforce our market leadership in niche segments via acquisitions when this is necessary. The recent acquisition of IFS Probity, a Dutch IT services provider with solutions for complex mass invoicing processes, is very much in line with this strategy. Together we are creating a new proposition in the energy and mobility sectors.

We were able to welcome a large number of new employees in the third quarter. In the current tight labour market, our biggest challenge is still the recruitment and retention of our colleagues. Thanks to our strategic focus on collaboration in high performance teams, we can offer our employees the prospect of challenging work at Ordina.”

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Ordina presents annual results 2021