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Ordina N.V. results third quarter 2019

31 Oct 2019

Continued improvement in returns

Highlights Q3 2019

  • Revenue up 5.6% at EUR 91.3 million (Q3 2018: EUR 86.5 million);

    • Revenue The Netherlands rises 4.0% to EUR 63.9 million (Q3 2018: EUR 61.4 million);

    • Revenue Belgium/Luxembourg up 9.5% at EUR 27.4 million (Q3 2018: EUR 25.1 million);

  • EBITDA increases to EUR 7.0 million (Q3 2018: EUR 2.7 million)¹;

  • EBITDA margin increases to 7.7% (Q3 2018: 3.2%)¹;

  • Net profit increases to EUR 4.1 million (Q3 2018: EUR 0.8 million);

  • One extra working day in both the Netherlands and Belgium/Luxembourg in the third quarter (impact of approximately EUR 1.3 million on revenue and approximately EUR 1.0 million on EBITDA);

  • Increased demand for propositions High performance teams and Data-driven;

  • Employee engagement score 7.1 (2018: 7.1).

Highlights year to date 2019

  • Revenue up 4.8% at EUR 278.2 million (YTD 2018: EUR 265.3 million);

    • Revenue the Netherlands rises 2.0% to EUR 193.6 million (YTD 2018: EUR 189.7 million);

    • Revenue Belgium/Luxembourg rises 11.9% to EUR 84.6 million (YTD 2018: EUR 75.6 million);

  • EBITDA increases to EUR 18.4 million (YTD 2018: EUR 12.9 million)¹;

  • EBITDA margin increases to 6.6% (YTD 2018: 4.9%)¹;

  • Net profit increases to EUR 10.0 million (YTD 2018: EUR 5.8 million);

  • Net cash position improves to EUR 10.9 million (end-Q3 2018: EUR 1.9 million);

  • One extra working day in the Netherlands in year to date (impact of approximately EUR 0.9 million on revenue and approximately EUR 0.7 million on EBITDA).

Jo Maes, CEO Ordina, on the results

“Revenue and result both increased again in the third quarter. We realised the improvement in returns thanks to our focus on the added value of our services and higher productivity. This growth was largely driven by the increasing number of client contracts based on our five business propositions. Of these propositions, High performance teams and Data-driven delivered particularly strong performances.

In the Netherlands, we recorded continued growth in the public sector and financial services. In Belgium/Luxembourg, we delivered our strongest performances in the industry, financial services and healthcare sectors. The expansion of our operations in Wallonia also contributed to continuing growth.

On the labour market front, we have noted that Ordina is and remains attractive for talented people. The third quarter saw another increase in the number of direct employees. We also continue to score highly on the employee engagement front, with a score of 7.1. Despite this, retaining and attracting employees remains a top priority for Ordina, as this will enable us to continue to grow at the desired tempo.”

Ordina N.V. results third quarter 2019