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Linedata Services — Earnings Release 2017
May 10, 2017
1483_10-q_2017-05-10_00be650c-7253-48bb-b84b-8141f8012a4f.pdf
Earnings Release
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Revenues for 1st quarter 2017: €45.7m (+13.7%)
| €m - IFRS | Q1 2016 | Q1 2017 (*) | Change | Like-for-like change at constant exchange rates |
|---|---|---|---|---|
| Asset Management | 24.8 | 31.3 | + 26.5 % | + 1.0 % |
| Lending & Leasing | 13.8 | 13.0 | - 5.8 % | - 6.3 % |
| Other activities | 1.7 | 1.4 | - 15.3 % | - 15.3 % |
| TOTAL | 40.2 | 45.7 | + 13.7% | - 2.2 % |
Rounded, unaudited figures
* Incorporates Derivation business from April 2016, and Gravitas from January 2017
Neuilly-sur-Seine, 10 May, 2017: Linedata (LIN:FP), the global solutions provider to the investment management and lending and leasing industries, generated €45.7 million in revenues in the first quarter of 2017, up 13.7% compared with the first quarter of 2016. At constant exchange rates and on a like-for-like basis, business declined by 2.2%.
Recurring revenues, which represented 72% of total revenues in the first quarter of 2017, were €32.7 million, up €2.5 million compared with the first quarter of 2016.
Order intake was €15.0 million for the period, versus €12.1 million in 2016—an increase of 24%. On a like-for-like basis, excluding revenues from recently acquired Gravitas, bookings grew by 14%. This increase was mainly due to good sales performance in the Lending & Leasing segment in Europe.
Performance analysis by segment:
ASSET MANAGEMENT (Q1: €31.3M, +26.5%)
Asset Management returned to organic growth in early 2017, in all regions. The front and middle-office business was buoyant and benefited from the additional €6.1 million in revenues from Gravitas in the first quarter of 2017.
After the integration in January 2017 of Gravitas, a provider of high-value, platform-based middle-office outsourcing and cloud services, this segment increased 26.5% compared with the first quarter of the previous year. The sales synergies are starting to bear fruit, thanks to a combined offer of software and outsourcing services that is particularly appealing to hedge funds.
LENDING & LEASING (Q1: €13.0M, -5.8%)
Revenues during the quarter were down because of bookings delays in North America in 2016, though it remains very buoyant for the medium term. Revenues totaled €4.1 million, down 13.7% over the period.
In Europe, quarterly revenues remained stable at €8.8 million, versus €8.9 million in 2016 (-1.6%).
OTHER ACTIVITIES (Q1: €1.4M, -15.3%)
All 2017 revenues in this segment came from Insurance. The decrease in revenues in this segment compared with 2016 was due to the end of the Employee Savings business.
| HEADQUARTERS Linedata |
AHMEDABAD - BOSTON - CASABLANCA - CHENNAI - CHICAGO - DUBLIN | |
|---|---|---|
| 19, rue d'Orléans 92523 Neuilly-sur-Seine Cedex France Tel.: +33 (0)1 73 43 70 10 Fax: +33 (0) 147 08 11 78 |
EDINBURGH - GREENWICH - HONG KONG - LONDON | www.linedata.com |
| LUXEMBOURG - MADRID - MUMBAI - NEW YORK - OXFORD | ||
| PARIS - RIGA - SEATTLE - TORONTO - TUNIS |
Outlook
Linedata will continue its efforts in R&D to bring innovative solutions to market for the Asset Management and Lending & Leasing industries.
At the same time, the integration of Gravitas into Linedata will continue, and combined service offerings will be proposed to existing clients to increase cross-selling opportunities.
Next communication: Revenues for first half 2017, July 20, 2017, after close of trading.
ABOUT LINEDATA
Linedata is a global solutions provider dedicated to the investment management and credit communities, with close to 1250 employees in 20 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 €166.8 million in 2016. 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 73 43 70 27 [email protected] www.linedata.com
Cap Value Financial communication Gilles Broquelet +33 (0)1 80 81 50 00 / [email protected] www.capvalue.fr