Disappointing result in the Netherlands; strong performance in Belgium/Luxembourg
February 18 2016 - 12:30AM
Nieuwegein, 18 February 2016
Key developments Q4
2015
- Recurring EBITDA rises to EUR 6.8 million (Q4
2014: EUR 4.4 million);
- Recurring EBITDA margin rises to 7.5% (Q4 2014:
4.7%);
- Revenue down 2.9% at EUR 90.8 million (Q4 2014:
EUR 93.5 million):
- Net cash position Q4 drops to EUR 4.5 million (Q4
2014: EUR 9.6 million);
- Result impacted by exceptional, positive item
(impact: EUR 2.1 million);
- Ordina wins Computable Award in healthcare
category with Quli.
Key developments FY
2015
- Recurring EBITDA drops to EUR 13.8 million (2014:
EUR 18.0 million);
- Recurring EBITDA margin drops to 4.0% (2014:
4.9%);
- Revenue down 5.1% at EUR 348.3 million (2014: EUR
366.9 million);
- Revenue in the Netherlands drops 8% to EUR 272.0
million (2014: EUR 295.5 million)
- Revenue in Belgium/Luxembourg increases by 6.9%
to EUR 76.3 million (2014: EUR 71.4 million)
- Cost internal investigation total EUR 1.6 million
(2014: EUR 1.7 million);
- Redundancy costs amount to EUR 7.8 million (2014:
EUR 6.6 million);
- Net loss comes in at EUR 3.2 million (2014: net
profit of EUR 1.0 million);
- Structural cost-savings programme of EUR 15
million annually is on track;
- Ordina hired 212 Young Professionals.
ORDINA CEO STÉPAN BREEDVELD
ABOUT THE RESULTS
"The year 2015 was a disappointing year in which Ordina had to
adapt rapidly to drastically changing market conditions. We closed
the year with a loss, largely due to the sharp decline in revenues
from the public sector in the Netherlands. In the fourth quarter,
this decline abated on the back of our increased focus on key
accounts. Thanks to tight monitoring of working capital, we once
again closed the year free of debt. Ordina performed well in
Belgium and Luxembourg with growth in both revenue and
profitability.
Our tightened strategy now includes both the
adjustments of the Executive Committee, growth initiatives and
savings, as well as investments in Young Professionals and
innovation. The measures we have taken are aimed at moving from
decline to structural revenue growth. The cost-savings programme of
EUR 15 million annually is on track and the cost savings will be
completed as of Q4 2016.
One of the success stories of our innovation drive
was the third edition of the Ordina Open Innovation Days. More than
500 participants from the Netherlands and Belgium/Luxembourg showed
a great deal of interest in Ordina's new propositions. At clients'
request, we now also organise a special edition of the Innovation
Days in the north of the Netherlands, with a focus on the
developments and clients in that region."
###
ABOUT ORDINA
Ordina is the largest independent IT services provider in de
Benelux, with around 2,900 employees. We design, build and
manage IT applications in the public sector, in the financial
services sector, in industry and in healthcare. We aim to design IT
solutions that help people, IT that matters and that is produced
without wasting precious resources. We do this by forging
Partnerships in Sustainable Innovation with our clients.
Ordina was founded in 1973. The company's shares have been listed
on Euronext Amsterdam since 1987 and are included in the Small Cap
Index (AScX). In 2015, Ordina recorded revenues of EUR 348 million.
For more information visit the company's website at
www.ordina.com.
ADDITIONAL INFORMATION
For detailed information including the consolidated balance sheet,
income statement other information, we refer to our website
www.ordina.com, where the full 2015 annual report is published.
For more information on this
press release:
Annemieke den Otter, Investor Relations
Mail: annemieke.den.otter@ordina.nl
Telephone: +31 (0)30 663 7468
Jeroen Hellenberg, Communications
Mail: jeroen.hellenberg@ordina.nl
Telephone: +31 (0)30 663 8557
Jolanda Poots-Bijl, CFO
Mail: jolanda.poots@ordina.nl
Telephone: +31 (0)30 663 8906
Stépan Breedveld, CEO
Mail: stepan.breedveld@ordina.nl
Telephone: +31 (0)30 663 7111
Financial
calendar
26 April
2016 Trading
update
26 April
2016 General Meeting
of Shareholders
18 August 2016 Publication interim results
2016
12 October 2016 Shareholder Day
1 November 2016 Trading update
16 February 2017 Publication annual results 2016
Press call and analysts
presentation
09:00 CET - Press call
Ordina will discuss the results during a press call today at 09:00
CET (call number +31 20 531 5870).
10:30 CET - Analysts presentation
Ordina presents its results today at 10:30 CET at the analysts
meeting in Amsterdam. This presentation will be broadcast via a
webcast. You can follow the webcast via the link you will find on
www.ordina.com. The presentation will be available on our website
after the webcast.
This document contains forward looking statements
regarding the financial performance of Ordina N.V. and outlines
certain plans, targets and ambitions based on current insights.
Such forecasts are obviously not without risk and entail a certain
degree of uncertainty since there are no guarantees regarding
future circumstances. There are multiple factors that could
potentially result in the actual results and outcomes differing
from those outlined in this document. Such factors include: general
economic trends, the pace of globalisation of the markets for
solutions, IT and consulting, increased performance commitments,
scarcity on the labour market, and future acquisitions and
disposals.
Ordina press release FY
2015
This
announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Ordina via Globenewswire
HUG#1986910
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