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Ordina N.V. results third quarter 2018

01 Nov 2018

Revenue increases; growth in the number of employees

Highlights Q3 2018

  • Net profit rises to EUR 0.8 million (Q3 2017: EUR 0.6 million);

  • EBITDA EUR 2.7 million, unchanged from Q3 2017;

  • EBITDA margin stable at 3.2% (Q3 2017: 3.3%);

  • Revenue 6.5% higher at EUR 86.5 million (Q3 2017: EUR 81.2 million);

    • Revenue the Netherlands up 1.4% at EUR 61.4 million (Q3 2017: EUR 60.6 million);

    • Revenue Belgium/Luxembourg 21.4% higher at EUR 25.1 million (Q3 2017: EUR 20.6 million);

  • Net growth in the number of employees in both the Netherlands and in Belgium/Luxembourg;

  • Employee engagement score improves to 7.1 (2017: 6.8).

Highlights YTD 2018

  • Net profit rises to EUR 5.8 million (YTD 2017: EUR 1.6 million);

  • EBITDA higher at EUR 12.9 million (YTD 2017: EUR 9.6 million);

  • EBITDA margin higher at 4.9% (YTD 2017: 3.8%);

  • Revenue up 5.2% at EUR 265.3 million (YTD 2017: EUR 252.2 million);

    • Revenue the Netherlands up 2.1% at EUR 189.7 million (YTD 2017: EUR 185.9 million);

    • Revenue Belgium/Luxembourg 14.0% higher at EUR 75.6 million (YTD 2017: EUR 66.3 million);

  • Net debt position (end-Q3 2017: EUR 2.5 million) improved to net cash position of EUR 1.9 million;

  • Digital transformation takes centre stage during Ordina’s Innovation Days.

Jo Maes, CEO Ordina, about the results

“Revenue and net profit continued to increase in the third quarter. In the Netherlands, the strongest growth in revenue was in the public sector. We are seeing a steady increase in the translation of the government’s Digital Agenda into concrete activities and as a local player Ordina is a logical partner in the execution of those activities. Belgium/Luxembourg shows double-digit revenue growth. Ordina Belgium/Luxembourg makes good progress in financial services and is growing steadily in the industry market. Our efforts in the pharmaceutical sector are now clearly paying off in the healthcare market.

In the third quarter, Ordina recorded growth in the number of its employees for the first time in quite a while. That is definitely good news. The expansion of our own in-house workforce is extremely important in today’s market, which is marked by huge demand for IT services. Over the past few quarters, the number of our direct employees remained more or less the same. In the third quarter, we added a total of 30 direct employees. Ordina continues to focus on the recruitment and retention of employees.

Our offices in Nieuwegein and Mechelen recently hosted the successful Ordina Innovation Days, with the theme ‘Connecting and Accelerating’. At this two-day event, Ordina offered a number practical examples and presentations to a total of 800 clients and employees, highlighting the world of digital transformation. Our business proposition ‘Intelligent data-driven organisations’ enables our clients to use data in a smart and responsible manner. One of our data projects, which involves close cooperation between Ordina, SAP and telecoms firm Proximus, recently won an award in Belgium. With the aid of an Internet of Things solution, Proximus can locate the numerous cable reels the company uses at any time of day or night. This results in considerable cost savings due to reduced loss and damage and more efficient deployment.”

Ordina N.V. results third quarter 2018