Continued growth and improved results
Highlights H1 2019
- Revenue 4.5% higher at EUR 186.9 million (H1 2018: EUR 178.9 million);
- Revenue the Netherlands up 1.1% at EUR 129.7 million (H1 2018: EUR 128.3 million);
- Revenue Belgium/Luxembourg up 13.0% at EUR 57.1 million (H1 2018: EUR 50.6 million);
- EBITDA (adjusted) rises to EUR 11.3 million (H1 2018: EUR 10.2 million);
- EBITDA margin (adjusted)¹ rises to 6.1% (H1 2018: 5.7%);
- Net profit higher at EUR 6.0 million (H1 2018: EUR 5.1 million).
Highlights Q2 2019
- Revenue 5.4% higher at EUR 92.3 million (Q2 2018: EUR 87.6 million);
- Revenue the Netherlands up 2.0% at EUR 64.4 million (Q2 2018: EUR 63.1 million);
- Revenue Belgium/Luxembourg up 14.0% at EUR 27.9 million (Q2 2018: EUR 24.5 million);
- One extra working day in the Netherlands in Q2 2019 (impact around EUR 0.9 million in revenue and around EUR 0.7 million in EBITDA);
- EBITDA (adjusted)¹ rises to EUR 5.6 million (Q2 2018: EUR 4.1 million);
- EBITDA margin (adjusted)¹ rises to 6.1% (Q2 2018: 4.7%);
- Net cash position higher at EUR 6.5 million (end-Q2 2018: EUR 2.9 million);
- New high-profile labour market campaign featuring Ordina’s own professionals;
- Ordina scores top-5 position as attractive employer in MT500.
Jo Maes, CEO Ordina, about the results
“We once again recorded growth in the first half of the year. Our Belgium/Luxembourg business recorded excellent growth of 13%. The rate of growth in the Netherlands was lower, but we also saw continued growth in profitability. Our revenue from projects and from teams of our own Ordina professionals is growing. These multidisciplinary teams enable us to offer our clients continuity and the acceleration of their digital transformation.
Our five business propositions continue to be a success with our clients. In the public sector, we are seeing growth in the number of High performance teams and contracts in the field of Intelligent data-driven organisations and Digital acceleration. In the financial sector, we are booking growth with High performance teams and Business platforms. In the healthcare sector, we are very pleased with the growth in Belgium/Luxembourg and in particular in Wallonia. We saw a slight decline in revenue in the industry sector. However, we did record an increase in revenue in this sector from our propositions Intelligent data-driven organisations and Security & Privacy.
With net profit of EUR 6.0 million and a net cash position of EUR 6.5 million, Ordina was in a healthy financial position at the end of the first half of the year. Our main priorities for the second half of the year are to continue with the execution of our added value strategy at our clients, and a further improvement in returns. We will focus on growth with our five business propositions and growth with our own professionals.”