November 3, 2015 / 7:21 AM / in 2 years

BRIEF-Ordina Q3 recurring EBITDA falls to 3.7 million euros

Nov 3 (Reuters) - Ordina NV :

* Reports Q3 turnover in decline by 3.8 percent to 84.8 million euros ($93.49 million), compared to 88.2 million euros for Q3 of 2014

* Q3 net debt position increases to 11.1 million euros, compared to 5.4 million euros in Q3 2014

* Q3 turnover in Netherlands falls 6.0 percent to 66.6 million euros, compared to 70.6 million euros in Q3 2014

* Q3 turnover in Belgium / Luxembourg rises 3.6 percent to 18.2 million euros, compared to 17.6 million euros for Q3 2014

* Q3 recurring EBITDA falls to 3.7 million euros, compared to 5.3 million euros in Q3 2014

* Says results are lagging when compared to Q3 of 2014 largely due to delays in public sector market in Netherlands

* Says it has raised structural annual cost savings from 8 million euros to 15 million euros

* Savings will be realized as of Q4 2016 and involve reductions in direct and indirect costs and process improvements

* Savings will result in reduced overheads and availability structurally lower than 10 percent, which will in turn boost returns Source text for Eikon: Further company coverage: ($1 = 0.9070 euros) (Gdynia Newsroom)

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