1 Amsterdam, the Netherlands, 1 March
2 Ronald Kasteel
3 Some key figures 3
4 Above outlook 4
5 Market recovery 5
6 Back to growth 6 Productivity structurally higher in 2010 in comparison with Fees stabilised from Q Q-on-Q increase in revenue per workday.
7 Markets: Public/Healthcare 7 Sharp drop in revenue in comparison with 2009 due to the fall of the Dutch coalition government, lengthy coalition talks and government spending cuts. Stabilisation during the year.
8 Markets: Finance 8 Sharp growth from Q onwards.
9 Markets: Industry 9 Stable revenue from Industry market. Thanks, in part, to our strong position in the Industry market in Belgium.
10 Increase in share of revenue from multi-year contracts, offshoring and nearshoring 10 Ambition is to increase share of revenue from long-term contracts to 35%.
11 Stable share of revenue from strategic clients 11 TOP 10 CLIENTS ABN Amro/Fortis Achmea ING Group KPN Dutch Ministry of Homeland Affairs Dutch Ministry of Justice Dutch Ministry of Agriculture Dutch Ministry of Education Dutch Ministry of Transport and Public Works Rabobank Group
12 Interesting projects 12 Public/ Health Land Registry: updating of public register and central personal records database. DUO: management of the costing system. Development of a care portal for the Healthcare Inspectorate s Zichtbare Zorg (visible care) programme. Four-year agreement with the European Commission. Finance Modernization of Robeco s Mijn Robeco selfservice portal. Reinforcement of our prefered supplier status at major banks. Industry Innovative customer interaction platform for The Voice of Holland. Development and implementation of a quality tool for Belgacom s contact channels. Three-year contract with Schiphol Amsterdam Airport for managing business intelligence environment. Five-year contract with Schiphol Amsterdam Airport for managing Oracle applications.
13 Our people 13 ALS WE EERLIJK ZIJN IS HET HOOG TIJD VOOR NIEUWE GENERATIES ALS WE EERLIJK ZIJN ZOEKEN WE HET LIEVER DICHT BIJ HUIS Karen Donders Senior Business Consultant Woont in Utrecht Vliegen? Ja, leuk. Als je op vakantie gaat. Maar werken doen we liever dichter bij huis. Het mooie is: daar ligt ook onze kracht. We kennen de lokale markten en spreken de taal van onze klanten. Zo helpen we organisaties beter vooruit. Met adviseren over bedrijfsprocessen, met het implementeren van bedrijfsprocessen, met passende ICT-oplossingen. En s avonds zijn we gewoon op tijd thuis voor het avondeten, sporten of een afspraakje. Werkt wel zo prettig. En dat merk je, als je met ons samenwerkt. Nieuwsgierig? Connect op connectivate.nl. Thomas Hartgers met dochter Sophie Infrastructuur Specialist Wonen in Nieuw-Vennep Vroeger. Nog niet zo lang geleden werden er regel voor regel programma s geschreven die tot prachtige systemen uitgroeiden. Inmiddels heeft dat bij menig organisatie tot nogal wat legacy geleid. Veel doet het nog, maar vraag niet hoe en voor hoeveel. De status quo is beheren. Zonde. De logische stap is vernieuwen. Mensen, middelen en mogelijkheden met elkaar verbinden. Kansen verzilveren. Dat vraagt om lef. Maar levert veel op. Tijd voor vernieuwing? Connect op connectivate.nl.
14 Employees 14 Recruitment drive initiated in Recruitment activities for several hundreds of young professionals and professionals to be expanded in 2011: Launch of branding and recruitment campaign (January 2011).
16 Bart de Jong
17 Breakdown of revenue by market 17 Growth in Finance market H2 on H1: 17.3%. Public market was very slow in Growth in Industry market, thanks to our strong position in this market in Belgium Full year H1 H2 % % Finance % % Public/Healthcare % % Industry % % Total % %
18 Belgium/Luxembourg 18 Revenue at EUR 68.3 million (2009: EUR 70.1 million). Share of revenue at 16% (2009: 14%).
19 Breakdown of revenue to service 19 Consulting hit hard: -26.6% in 2010 in comparison to H stable against H Drop in consulting services mainly attributable to uncertainty in the Public market. Demand for consulting services increased in Finance market in H Revenue in ICT and outsourcing increased in H Full year H1 H2 % % ICT % % Consulting % % Application Outsourcing % % Total % %
20 Income statement 20
21 From EBIT to recurring EBITA and EBITDA 21
22 Balance sheet as at year-end
23 Net debt development 23 Total net debt/adjusted EBITDA: 2.4 DSO of 52 days
24 Net debt development full year
25 Financing 25 Financing facilities renewed in 2009: senior financing of EUR 120 million renewed. subordinated loan of EUR 27.5 million contracted, interest 13.5%. Current standing compared to the agreed financing ratios: actual to from onwards Total net debt / adjusted EBITDA 2.4 < 3.5 < 3.25 Senior net debt / adjusted EBITDA 0.9 < 2.75 < 2.5 Interest coverage ratio 4.6 > 3.5 > 4.0
26 Ronald Kasteel
27 Vision on Ordina in Overall Clients/ propositions Employees Investors Local (top 3) provider of consulting and ICT services with international partnerships (technology partners and offshore partners). Honoust, close to home and energetic. Distinguished party for clients, employees and investors. Four businesses: consulting, business solutions, ICT projects/outsourcing and time/material. Focus on markets with local scale: public, finance, healthcare and industry. We are knowledgeable of our clients and the local market. More so than the competition. Inventive and strong-willed in the search for solutions. Quality at a fair price point. Open, approachable culture and a non-hierarchic organisation, aimed at working together. A comforting home. Highly involved employees, who wish to develop themselves and to contribute to society. Ordina offers development, opportunities and fair benefits. Ordina is the employer of choice. Financially robust, based upon a solid balance sheet and a higher-than-average profitability, with an increasing revenue share from multi-year contracts.
28 Ordina 2014 to become reality in three steps 28 3 Return above growth Three steps 2 Win market share 1 Investing in growth in personnel Focus in the management agenda Growth in business solutions Growth in differentiating product/market combinations and consulting Focus on recruitment and employee development Corporate and recruitment campaign Focus on recruitment and employee development Offshore/nearshore solution Margin and cash management Further performance improvements Preferred place to work
29 Outlook 29 Market developments Outlook 2011 Developments Public market Underlying programmes aimed at organizational improvement are ready to be implemented. However, decisions are still only slowly being made. Developments Finance market Growth in H is a prelude to further growth in Ordina expects the market to continue to recover in Ordina expects to generate between EUR 115 million and EUR 120 million in revenue for the first quarter of 2011 (increase between 5% and 10% in comparison with the first quarter of 2010). Ordina will invest in growth in personnel in Ordina launched a campaign to strengthen its growth ambitions. Recurring EBITDA is expected to land at approximately EUR 4 million for the first quarter of This represents an increase of approximately 10% in comparison with recurring EBITDA for the first quarter of 2010.
31 Reported to recurring 31
32 Revenue and EBITDA development 32
33 Per-share information 33
34 Amortisation PPA 34