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Linedata Services — Earnings Release 2014
Oct 22, 2014
1483_iss_2014-10-22_09c7e8c0-15bf-4a22-887b-0102eac7846d.pdf
Earnings Release
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Revenues for the first 9 months of 2014: €115.7 million
| € millions - IFRS | 2013 | 2014 | Change | Like-for-like change at constant exchange rates* |
|---|---|---|---|---|
| 1st quarter | 34.2 | 36.9 | +7.8% | -6.4% |
| 2nd quarter | 43.6 | 39.5 | -9.3% | -9.4% |
| 3rd quarter | 39.7 | 39.3 | -1.2% | -1.7% |
| Total 9 months | 117.6 | 115.7 | -1.6% | -5.4% |
Rounded, unaudited figures
* Integrates CapitalStream business from 22 March 2013
Neuilly-sur-Seine, 22 October 2014 : Linedata (LIN:FP), the global solutions provider dedicated to the investment management and credit finance industries, recorded revenues of €115.7 million for the first 9 months of 2014, down 1.6% compared with 2013. At constant exchange rates and on a like-for-like basis, revenues fell 5.4%.
In the 3rd quarter of 2014, revenues were €39.3 million, down 1.2% (1.7% on a like-for-like basis) compared with the 3rd quarter of 2013.
Recurring revenues, which represented 70% of total revenues, amounted to €81.6 million over the first 9 months of 2014, stable compared with the same period last year.
Bookings for the 3rd quarter of 2014 grew by €3.6 million compared to the 3rd quarter of 2013. At 30 September 2014, bookings for the first 9 months of 2014 stood at €44.9 million, a decrease of 11% compared to the same period in 2013, which included an exceptional booking amount of €4.7 million in Southern Europe for Employee Savings.
Performance by region:
| € millions - IFRS | 9 months 2013 |
9 months 2014 |
Change | Like-for-like change at constant exchange rates* |
|---|---|---|---|---|
| Southern Europe | 52.2 | 44.2 | -15.4% | -15.4% |
| Northern Europe | 19.7 | 22.4 | +13.6% | +9.5% |
| North America | 43.2 | 46.7 | +8.1% | -0.5% |
| Asia | 2.4 | 2.4 | -1.5% | +1.4% |
| Total | 117.6 | 115.7 | -1.6% | -5.4% |
Rounded, unaudited figures
* Integrates CapitalStream business from 22 March 2013
Performance analysis by region:
SOUTHERN EUROPE (Q1: €14.5 million, -12.6%; Q2: €15.7 million, -21.5%; Q3: €13.9 million, -10.5%)
Revenues for Southern Europe were down 10.5% for the 3rd quarter of 2014 compared with the same period in 2013, mainly due to a negative base effect caused by the loss of Employee Savings revenues.
NORTHERN EUROPE (Q1: €6.7 million, +3.4%; T2: €7.7 million, +17.5%; Q3: €8.0 million, +19.7%)
In Northern Europe, revenues for the 3rd quarter of 2014 were up 19.7% (14.0% at constant exchange rates), largely thanks to the successful launch of the Lending & Leasing business and stronger activity in the United Kingdom.
NORTH AMERICA (Q1: €14.9 million, +43.7%; Q2: €15.4 million, -5.2%; Q3: €16.4 million, -1.2%)
The 3rd quarter was down slightly by 1.2% (-0.2% at constant exchange rates) due to the late launch of new versions of Linedata Longview.
ASIA (Q1: €0.7 million, -3.3%; Q2: €0.7 million, -6.9%; Q3: €0.9 million, +5.6%)
In the 3rd quarter of 2014, the Group's revenues were up 5.6% compared with the 3rd quarter of 2013 thanks to the sound performance of Hedge Funds.
Outlook:
Over the full year, the Group expects to meet its objective of achieving revenues close to those in 2013, with a slightly lower EBITDA margin.
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Next communication: publication of the annual revenues for 2014, on 4 February 2015 after close of trading.
ABOUT LINEDATA
Linedata is a global solutions provider dedicated to the investment management and credit communities, with close to 1000 employees in 15 offices across the globe. Linedata has been at the service of the financial industry from day one, and applies its market and client insight to provide innovative and flexible mission-critical software and services that help its clients grow in over 50 countries. Headquartered in France, Linedata achieved revenues of EUR 160.3 million in 2013. This company is listed on Euronext Paris compartment B FR0004156297-LIN – Reuters LDSV.LN – Bloomberg LIN:FP.
For further information, please contact: Linedata Finance Department +33 (0)1 47 77 68 39 [email protected] www.linedata.com
Cap Value Financial communication Gilles Broquelet +33 (0)1 80 81 50 00 / [email protected] www.capvalue.fr