ORDINA N.V. RESULTS FULL YEAR 2014 Ordina closes turbulent year with a profit

Nieuwegein, 19 February 2015

Highlights FY 2014

• Recurring EBITDA rises to EUR 18.0 million (2013: EUR 16.3 million);
• Recurring EBITDA margin up at 4.9% (2013: 4.3%);
• Revenue declines by 2.7% to EUR 366.9 million (2013: EUR 377.0 million);
• Costs internal investigation in 2014 EUR 1.7 million;
• Net profit EUR 1.0 million (2013: recurring net loss of EUR 0.4 million).

Highlights Q4 2014

• Recurring EBITDA drops to EUR 4.4 million (Q4 2013: EUR 8.4 million);
• Recurring EBITDA margin drops to 4.7% (Q4 2013: 8.5%);
• Revenue down 5.7% at EUR 93.5 million (Q4 2013: EUR 99.2 million);
• From net debt to net cash position of EUR 9.6 million (Q4 2013: net debt of EUR 2.2 million);
• Great deal of attention devoted to internal investigation into integrity at Ordina;
• Ordina wins Computable Award best IT services provider 2014.

Stépan Breedveld, CEO Ordina, on the results
"Last year was a year with two distinct sides for Ordina. Despite a turbulent and disappointing fourth quarter, Ordina ended 2014 in a stronger financial position compared to a year earlier. Our profitability continued to increase and we closed 2014 with a net profit. We also successfully turned our net debt position into a net cash position, which makes the company more financially robust for the future. However, despite our efforts revenues continued to decline due to a drop-off in the number of large-scale projects and lower demand from our clients in the telecom and energy sectors, which has an impact on the results.   
 
In the past few months, much of our management attention has been devoted to our internal investigation conducted by De Brauw Blackstone Westbroek. This investigation followed questions from television programme Zembla about potential irregularities in tender procedures in the period 2004-2010. Ordina published the main results of the investigation on 27 January 2015. The investigation revealed one case with clear indications of potential irregularities. The investigation did not reveal any indications of structural irregularities. Ordina's Management Board, we are committed to ensuring that Ordina is a company with integrity and we condemn any form of inappropriate behaviour. We will evaluate any signs of potential irregularities and take measures if we deem them necessary. In addition, we tightened our compliance and started an intensive integrity programme.

In the past year, we assisted numerous clients in their efforts to get a grip on new technological developments. We are proud to be helping companies such as the Rotterdam port company to respond to technological advances and help make those developments relevant and applicable in the context of their own business goals. Clients appreciate the fact that we are a local player and thus close to the market and that we are familiar with any relevant regulations and the specific situation of our clients. The path we have chosen is gaining increasing recognition.

In the coming period, we will continue to work with our employees on regaining the trust in our company. Against this background, in 2015 we will continue to do our utmost to achieve our goal of working with our clients to forge partnerships in sustainable innovation."

Outlook
We decline to give a forecast for the coming period.

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ABOUT ORDINA
Ordina is the largest independent IT services provider in the Benelux, with more than 2,900 employees. We design, build and maintain IT solutions for organisations in the public sector, in financial services, industry and the healthcare sector. 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 the NYSE Euronext Amsterdam since 1987 and are included in the Small Cap Index (AScX). In 2014, Ordina recorded turnover of EUR 367 million. For more information visit the company's website at www.ordina.com.

ADDITIONAL INFORMATION
For detailed information including the consolidated financial statements and notes to the financial statements, we refer to our website www.ordina.com for our annual report 2014.

For more information about this press release, please contact:

Annemieke den Otter, Investor Relations
Mail: annemieke.den.otter@ordina.nl
Telephone: +31 (0)30 663 7468

Jeroen Hellenberg, Communications
Mail: jeroen.hellenberg@ordina.nl
Telephone: +31 (0)30 663 8557

|Jolanda Poots-Bijl, CFO
Mail: jolanda.poots@ordina.nl
Telephone: +31 (0)30 663 8906

Stépan Breedveld, CEO
Mail: stepan.breedveld@ordina.nl
Telephone: +31 (0)30 663 7111

Key financial dates
19 February 2015    Publication full-year results 2014
30 April 2015          Trading update 
30 April 2015          General Meeting of Shareholders
20 August 2015       Publication Interim results 2015
3 November 2015    Trading update
18 February 2016    Publication full-year results 2015

Press call and analyst presentation
09:00 am CET - Press call
Ordina will be presenting its results today at 9 am CET during the press call (call number: +31 20 531 5870).

10:30 am CET - Analyst presentation
Ordina will be presenting its results today at 10:30 am CET at the analyst presentation in Amsterdam. You can view this presentation via a webcast. You can follow the webcast via the link you will find on our website www.ordina.com. The presentation will be available on our website after the webcast.

This document contains pronouncements forecasting 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 no guarantees exist on future circumstances. There are many factors that could potentially affect the actual performance and forecasts, causing them to deviate from the situation described in this document. Such factors include: general economic trends, the pace of the globalisation of 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.

In case of any discrepancies, the Dutch version prevails