Ordina reported better sales in Q1, with revenue up 1.5% at €89.9m (Q1 2015: €88.5m; sales in the home Netherlands market declined 2.3% to €68.1m, however even though Belgium/Luxembourg numbers were 15.6% better at €21.7m.
Stépan Breedveld, CEO Ordina, on the results: "Ordina's results improved in the first quarter, on the back of slightly higher revenue. The strong performances delivered by the Belgium/Luxembourg division continued and the results of the Dutch division improved in the course of the first quarter. Revenue in the financial services, industry and healthcare sectors came in higher and the decline in revenue from the public sector continued to level out in the period under review.
“Ordina's tightened strategy, aimed at turning the decline in revenue into profitable growth, starts to bear fruit. The savings programme aimed at cutting costs by €15m a year is on schedule. We have now largely completed the organisational changes.”