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Ordina records a solid first quarter 2023

Nieuwegein, 25 April, 2023

Ordina N.V. (Ordina), the digital business partner that harnesses technology and market know-how to give its clients an edge, today presents its results for the first quarter of 2023.

Q1 2023 highlights

  • Revenue comes in at EUR 117.4 million (Q1 2022: EUR 110.7 million);

  • Revenue from business propositions accounts for 48% of total revenue;

  • Adjusted EBITDA comes in at EUR 16.2 million (Q1 2022: EUR 17.3 million);

  • Adjusted EBITDA margin amounts to 13.8% (Q1 2022: 15.6%);

  • Net profit comes in at EUR 6.6 million (Q1 2022: EUR 9.3 million);

  • Net cash position stands at EUR 37.3 million at end-Q1 (end-Q1 2022: EUR 53.0 million).

Jo Maes, Ordina Group CEO, on the results

"In the first quarter, we once again achieved profitable growth and our margin confirms that we recorded a solid operating performance in the first quarter. We make good progress with the execution of our strategy. The proposed transaction with Sopra Steria to join forces will allow us to accelerate.

Demand for our services remains high in markets where we have a stable and solid position. We achieved particularly strong growth in the public sector. In order to further strengthen our strategy in this sector, we have expanded our portfolio to include a market theme in which we have combined our expertise to provide integrated solutions in the public domain. In doing so, we help governments increase the effectiveness of their systems and improve connectivity with citizens. The recently concluded partnership with the Land Registry is a perfect example of this.

In this competitive labor market, recruiting and retaining talented colleagues is one of the biggest challenges we face at Ordina. Our strategic focus is on fostering collaboration in high performance teams, so we can offer our employees challenging career prospects."

Download the press release