Forsikringens Datacenter A/S (Koncern)

Operating review

Financial reviewFDC’s Profit is DKK 13,436 thousand before tax. No dividends will be paid for this year.The annual result has not met the expectations and is primarily influenced by a few specific projects where the Company has used more resources in developing the solutions than budgeted/calculated for initially, and a low performance in Process Factory.Furthermore, a change in management in q3 and q4 had an impact on the annual result for the year 2014. The first task for the new management was to perform a reorganization and develop a new strategy, which will result in an improved efficiency and a reduced time to market. In 2015, we will implement the new strategy, creating a more efficient FDC and reducing production and overhead costs.Nonfinancial mattersClientsIn 2014, we continued to maintain a good relationship with our clients, and our focus is to develop the relationship even further in 2015. Several of our clients have already placed new orders, which show our strong relationship with our clients. We are building a “next generation” solution for the life & pension market, and we deliver the final solution for Pension Danmark in 2015.Client testemonials“Converting the municipality and business portfolio of Gjensidige into new solution (F2100)GjensidigeAn impressive piece of work. Now that the work was finally completed, it is an impressive workload, which was carried out by FDC. The project was constantly challenged – again and again – but every time it was possible to find a solution.For nearly 200 years, Gjensidige has safeguarded life, health and assets for its customers.The project management team has shown a remarkable flexibility, patience and a genuine engagement and willingness to succeed with a good result. This has indeed been a demanding process for our suppliers. They can be truly proud of their work and I wish them good luck in the future”.The Group offers insurance options in Norway, Sweden, Denmark and the Baltics.― Anne Elin Berge, Project Manager, GjensidigeGjensidige Forsikring Denmark offers general insurance to a wide range of segments within Private, Agriculture, Commercial and Government“FDC was chosen because they – as one of few suppliers – already had an existing pension solution for public servant retirement in the Norwegian market.SpareBank 1It was prioritised that the solution constitutes of several clients contributing to the operation and development of the system.SpareBank 1 offers life insurance through their 350 branch offices in Norway. The bank alliance has 1.4 million customers and 268.000 business-to-business agreements.FDC has demonstrated good knowledge of the pension products and the pension business. The company has shown to be solution oriented and service minded, SpareBank1 is looking forward to working with FDC in further developing the F2100 solution in order to meet future expectations”.Since 2011, FDC has handled the life and pension solutions of SpareBank 1. This solution handles approximately 22.500 businesses and 300.000 customers.― Carl Anton Stenling, Department Manager, SpareBank 1 Insurance“Apart from a remarkably strong solution, the cooperation is also strengthened by FDC’s business knowledge and understanding of LD’s terms.Lønmodtagernes DyrtidsfondFDC’s competences are proven by the fact that FDC twice has won the contract with LD in open competition with Danish and International participants.On behalf of almost 716.000 members, Lønmodtagernes Dyrtidsfond administers assets with a total value of 54.6 billion DKK. The assets derive from a payment of 7.7 billion DKK which LD received from the Danish state in 1980 and which constituted the frozen threshold payments from 1977-1979Several times, FDC has proven its ability to organise a team, which is able to carry out complex amendments to legislation on a very short notice. The implementation of the Government’s pension package from the autumn of 2014 is a good example.FDC has been able to expand and renew the cooperation so FDC today is a trusted and authorized pension administrator for LD. In January 2014, a new contract was entered stating that FDC will deliver the total service to LD’s customers.”― Else Nyvang, Director, Member Administration, LD