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Linedata Services Earnings Release 2021
1483_10-q_2021-04-22_122c48a9-a59b-4db2-9c56-2f2ffbef0fa5.pdf
Earnings Release
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Revenues for 1st quarter 2021: €37.8 million
| In €m | Q1 2020 | Q1 2021 | Change | Change at constant exchange rates |
|---|---|---|---|---|
| ASSET MANAGEMENT | 28.4 | 25.9 | -8.5% | -3.1% |
| LENDING & LEASING | 11.9 | 11.9 | -0.1% | +1.7% |
| TOTAL LINEDATA | 40.3 | 37.8 | -6.0% | -1.7% |
Rounded, unaudited figures
Neuilly-sur-Seine, 22 April 2021 - Linedata (LIN:FP), the global solutions and outsourcing services provider for the asset management, insurance and credit industries, recorded revenues of €37.8 million for the first quarter of 2021, down 6.0% compared with the first quarter of 2020. Restated for the impact of currency depreciations over the period, particularly the USD, revenues fell by only 1.7%.
The recurring share of revenues in the first quarter of 2021 was stable in percentage terms, at 81%, and totalled €30.7 million.
For the first three months of the year, new orders amounted to €15.2 million, broadly stable compared with the first quarter of 2020.
Performance analysis by segment:
ASSET MANAGEMENT (Q1: €25.9M, -8.5%)
The Software business was down 10.7%, with mixed performances depending on the market. Front office solutions continued to perform well (+1.5% on a like-for-like basis and -5.7% on a reported basis), with the increased roll-out of the new AMP platform. Conversely, applications for fund services were down sharply, due in particular to a fall in consulting activity.
The Services division posted a steady increase of 4.0% (13.7% at constant exchange rates) for the first three months of the year, demonstrating the strength of Linedata's strategy to develop co-sourcing offers for the middle office and risk functions for investment funds.
LENDING & LEASING (Q1: €11.9M, -0.1%)
First-quarter revenues for the Lending & Leasing segment were stable compared to the same period in 2020, but increased by 1.7% on a like-for-like basis. This solid performance was driven by strong sales from the new version of Linedata Capitalstream.
Outlook
In 2021, while strengthening its sales teams and marketing investments, Linedata will leverage the successful renewal of all of its products as well as its robust business model to continue laying the groundwork for revenue growth.
Next announcement: Revenues for the first half of 2021: 27 July 2021, after close of trading.
ABOUT LINEDATA
With 20 years' experience, 20 offices covering 50 countries throughout the world, 700 clients and 1,100 employees, Linedata combines technology and human input to provide asset management, insurance and lending professionals with global solutions. Linedata supports companies as they develop and bolsters the growth of its clients.
Linedata generated revenues of €161.0 million in 2020. Linedata is listed on the Euronext Paris stock exchange Compartment B, FR0004156297-LIN - Reuters LDSV.PA - Bloomberg LIN:FP www.linedata.com
Linedata Finance Department +33 (0)1 47 77 68 39 [email protected]
Cap Value Financial communication Gilles Broquelet +33 (0)1 80 81 50 00 [email protected] www.capvalue.fr