Ordina N.V. results third quarter 2015
03 Novembre 2015 - 8:00AM
Turnover Public sector
declines, (slight) growth Financial Services and
Healthcare
Cost savings raised to EUR 15
million
Nieuwegein, 3 November 2015
Highlights Q3
- Recurring EBITDA falls to EUR 3.7 million (Q3
2014: EUR 5.3 million);
- Recurring EBITDA margin 4.3% (Q3 2014:
6.0%);
- Turnover declined by 3.8% to EUR 84.8 million (Q3
2014: EUR 88.2 million );
- Turnover Netherlands down 6.0% at EUR 66.6
million (Q3 2014: EUR 70.6 million)
- Turnover Belgium / Luxembourg up 3.6% to 18.2
million (Q3 2014: EUR 17.6 million)
- Net debt position increased to EUR 11.1 million
(Q3 2014: EUR 5.4 million);
- Giarte survey shows further increase in client
satisfaction among our Sourcing and Application Management
clients;
- Ordina Open Innovation days prove popular, with
540 visitors.
Highlights
Q1-Q3
- Recurring EBITDA falls to EUR 7.0 million (YTD Q3
2014: EUR 13.6 million);
- Recurring EBITDA margin 2.7% (YTD Q3 2014:
5.0%);
- Turnover declined by 5.8% to EUR 257.5 million
(YTD Q3 2014: EUR 273.4 million).
Strategy update
- Streamlining and simplifying organisation
- Structural cost savings raised to EUR 15.0
million annually;
- Acceleration of innovation and growth in Smart
Technology, Security and Digital Services;
Stépan Breedveld, CEO Ordina, about the
results
"Despite the improvement in margin compared to the second quarter
of the year, our results are lagging when compared to the third
quarter of 2014. This is largely due to the delays in the public
sector market in the Netherlands. Although we are winning new
business in certain areas in the public sector, this was not enough
to compensate for the lag in turnover in the segment as a whole. We
booked slight growth in Financial Services and Healthcare sectors.
Ordina continues to perform well in Belgium and Luxembourg, both in
terms of turnover and profitability.
Ordina is in transitional phase and wants to adapt
more rapidly to developments in the (public sector) market. By
streamlining and simplifying our organisation, we have extended the
previously announced cost savings programme from EUR 8 million to
EUR 15 million on a structural basis per year. The proposed
integration of Sourcing and Commerce means we can now place more
focus in the commercial development of our clients. We are also
boosting our operational effectiveness by placing all delivery
units in the Netherlands under the management of a single
Operational Director. We continue to focus strongly on
productivity, costs and operational excellence.
In the coming period, Ordina will accelerate the roll-out of its
innovation strategy. We will book growth in fields such as Smart
Technology, Security and Digital Services and remain fully
committed to investment in new innovative applications and the
development of our employees. For instance, this year Ordina will
hire around 170 Young Professionals and we will continue the Young
Professionals Programme in 2016. The very strong interest in the
third edition of the Ordina Open Innovation Days shows that many
organisations are involved in innovation. The 540 visitors showed
enormous interest in the Ordina propositions that were demonstrated
during the Innovation Tour."
Strategy update: Streamlining and simplifying
organisation. Higher savings. Acceleration innovation and
growth
At the presentation of the interim results (H1), we announced a
strategy update. The main results are outlined below. We will
provide more details and give a progress update at the presentation
of the full-year results.
Streamlining and savings
By streamlining and simplifying the organisation, Ordina has raised
the structural annual cost savings from EUR 8 million to EUR 15
million. The savings will be realised as of Q4 2016 and involve
reductions in direct and indirect costs and process improvements.
This will result in reduced overheads and availability structurally
lower than 10%, which will in turn boost returns.
Acceleration and growth
Due to the proposed integration of Sourcing and Commerce, Ordina is
increasing its focus in the commercial developments of its clients
in the Netherlands. In addition to this, we are increasing
operational efficiency by putting all delivery units in the
Netherlands under the management of a single Operational
Director.
In the past period, Ordina has sharpened the focus
in its segment strategy and client approach. We have identified
growth potential in existing key accounts in the field of digital
(client) interaction, transformation of legacy systems, Cloud and
Security. Ordina has also defined priorities to accelerate growth
in the market and is focusing specifically on (innovative)
applications such as Smart Technology and Digital Services.
The organisation will also continue to invest in
the new generation of IT specialists and young talents. Ordina
intends to hire around 170 Young Professionals this year.
# #
#
ABOUT ORDINA
Ordina is the largest independent IT services provider in de
Benelux, with more than 2,900 employees. We devise, build and
manage IT applications in the public sector, financial services,
industry and the healthcare sector. Our goal is IT that truly helps
people. IT that matters and that has been developed without wasting
any resources. We do this by working with our clients in
partnerships for sustainable innovation.
Ordina was founded in 1973. The company's shares
have been listed on NYSE Euronext Amsterdam since 1987 and are
included in the Smallcap Index (AScX). In 2014, Ordina recorded
turnover of EUR 367 million. You will find addition information on
our corporate website: www.ordina.com.
ADDITIONAL INFORMATION
For more information about
this press release, please contact:
Annemieke den Otter, Investor Relations
Email: annemieke.den.otter@ordina.nl
Telephone: +31 (0)30 663 7468
Jeroen Hellenberg, Communications
Email: jeroen.hellenberg@ordina.nl
Telephone: +31 (0)30 663 8557
Jolanda Poots-Bijl, CFO
Email: jolanda.poots@ordina.nl
Telephone: +31 (0)30 663 8906
Stépan Breedveld, CEO
Email: stepan.breedveld@ordina.nl
Telephone: +31 (0)30 663 7111
Financial diary
12 November 2015
Shareholders' day 2015
16 November 2015 Extraordinary Meeting of
Shareholders
18 February 2016 Publication
2015 annual results
26 April
2016
Trading update Q1 2016
26 April
2016 General
Meeting of Shareholders
18 August
2016 Interim
results 2016
1 November 2016 Trading update
Q3 2016
Media call and analysts
call
09:00 hrs CET - Media
call
Ordina will discuss its results on Tuesday 3 November at 09:00 hrs
CET during the press conference (call number +31 20 531 5870).
10:00 hrs CET - Analysts
call
Ordina will discuss its results on Tuesday 3 November at 10:00 hrs
CET during the analyst conference call (call number +31 20 531
5868).
This document contains
forward-looking statements regarding the future financial
performance of Ordina N.V. and outlines certain plans, targets and
ambitions based on current insights. Obviously, such forecasts are
not without risk; they entail a relative degree of uncertainty
since there are no guarantees of future circumstances. There are
many factors that could potentially affect the actual performance,
causing this to deviate from the situation described in this
document. Such factors include: general economic trends, the pace
of globalisation in the solutions, IT and consulting markets, the
growing number of projects with responsibility for deliverables,
scarcity on the labour market and future acquisitions and
disposals.
Ordina N.V. results third quarter
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
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