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Ordina: Disappointing result in the Netherlands; strong performance in Belgium/Luxembourg

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.

"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."


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 atwww.ordina.com.

For detailed information including the consolidated balance sheet, income
statement other information, we refer to our websitewww.ordina.com, where the
full 2015 annual report is published.

For more information on this press release:

Annemieke den Otter, Investor Relations

Telephone: +31 (0)30 663 7468

Jeroen Hellenberg, Communications

Telephone: +31 (0)30 663 8557

Jolanda Poots-Bijl, CFO

Telephone: +31 (0)30 663 8906

Stépan Breedveld, CEO

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 onwww.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


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