Ordina N.V. results third quarter 2015
(Thomson Reuters ONE) -
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(at)ordina.nl
Telephone: +31 (0)30 663 7468
Jeroen Hellenberg, Communications
Email: jeroen.hellenberg(at)ordina.nl
Telephone: +31 (0)30 663 8557
Jolanda Poots-Bijl, CFO
Email: jolanda.poots(at)ordina.nl
Telephone: +31 (0)30 663 8906
Stépan Breedveld, CEO
Email: stepan.breedveld(at)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:
http://hugin.info/130778/R/1963483/716483.pdf
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Ordina via GlobeNewswire
[HUG#1963483]
Unternehmensinformation / Kurzprofil:
Datum: 03.11.2015 - 08:00 Uhr
Sprache: Deutsch
News-ID 431370
Anzahl Zeichen: 9285
contact information:
Town:
Nieuwegein
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 194 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Ordina N.V. results third quarter 2015"
steht unter der journalistisch-redaktionellen Verantwortung von
Ordina (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
