- Recurring EBITDA up 8.1% to EUR 17.6 million (2011: EUR 16.3 million);
- Recurring EBITDA margin rises to 4.4% (2011: 3.8%);
- Recurring revenue drops 5.6% to EUR 400.7 million (2011: EUR 424.3 million);
- Turnaround from previous year`s loss to profit of EUR 0.5 million in 2012 (2011: loss of EUR 15.8 million);
- Net debt position drops to EUR 9.8 million (end-2011: EUR 12.4 million), net debt / adjusted EBITDA ratio 0.6 (2011: 0.8);
- Ordina strongest riser in 2012 Effectory`s employer study, certified Top Employer ICT;
- Contract with Rabobank for application design, development and testing renewed for five years.
STÉPAN BREEDVELD, CEO ORDINA, ON THE RESULTS
"We have restored confidence in Ordina. I am proud to report that we managed to get our results back in the black in 2012, despite the challenging market conditions. While revenue was down, our net profit and EBITDA margin improved considerably, plus we managed to book a positive cash flow, which in turn reduced our net debt. This has translated into a growing workforce in the fourth quarter, significantly higher employee engagement, the contracting of new clients and an increase in the number of contracts from existing clients. We succeeded in realising this turnaround by investing in our regional approach and in innovation and by closely monitoring our cost base. We celebrate our successes and actively involve our staff in the course we have chosen to take. We took the first step in 2012, but we still have a road ahead of us to greater profitability and growth."
The economic outlook and developments in Ordina`s markets remain uncertain. This is true in the Netherlands, and in Belgium / Luxembourg. This makes it difficult to predict revenue development and therefore future profit. We will therefore refrain from giving a forecast for the coming period.
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Ordina implements strategy and policy at the level of company processes and ICT solutions. We devise, build and manage solutions for a sustainable digital world, working from specialised divisions for consulting, solutions and ICT. We operate in the Benelux, where we offer (reproducible) solutions and expertise for the financial services, public sector and healthcare markets, as well as a number of specific segments within the industrial sector. Ordina N.V. was founded in 1973 and its shares are listed on NYSE Euronext Amsterdam, where it is part of the Small Cap index. In 2012, Ordina booked more than EUR 400 million in recurring revenues with over 2,900 employees.
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Source: Ordina via Thomson Reuters ONE