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Linedata Services — Earnings Release 2022
Oct 20, 2022
1483_iss_2022-10-20_df1f4c69-ad47-4c5e-b775-bc7b91e5e34c.pdf
Earnings Release
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First Nine Months' Revenue 2022: €124.8m
| €m | 9 months 2021 |
9 months 2022 |
Change | Change at constant exchange rates |
|---|---|---|---|---|
| ASSET MANAGEMENT | 76.8 | 85.3 | +11.2% | +3.2% |
| LENDING & LEASING | 37.0 | 39.5 | +6.9% | +3.9% |
| TOTAL LINEDATA | 113.7 | 124.8 | +9.8% | +3.4% |
Rounded, unaudited figures (€m)
Neuilly-sur-Seine, October 20, 2022 – Linedata (LIN:FP) reported revenue of €124.8m for the first nine months of 2022, reflecting organic growth of 3.4% over the same period of the previous year, driven by a strong performance of the Services component of the Asset Management business and the resilience of the Lending & Leasing business. In reported terms, growth was +9.8%, due to favorable USD exchange rates.
Recurring revenue to end of September 2022 was €98.9m (+€7.2m compared to the first nine months of 2021), representing 79% of total revenue. Non-recurring revenue was up €4.0m thanks, in particular, to significant growth in Services.
Bookings remain strong, at €42.0m, although 4.9% lower than the previous year due to the size of a major Lending & Leasing contract booked in 2021.
Performance by segment:
ASSET MANAGEMENT (Q1: €27.3m, +5.3%; Q2: €29.4m, +15.1%; Q3: €28.6m, +13.2%)
Revenue generated by the Asset Management business gathered pace with an increase of 13.2% in Q3 2022. Over the first nine months of the year, growth came to 11.2% in reported terms and 3.2% in organic terms. Sales activity continued to hold up well with a 15.6% increase in order intake since January 1, 2022.
The Software business reported 4.3% growth in reported terms to €65.5m. The Fund Services component remains on a good trend and recurring revenue has increased. However, Front Office solutions are still lagging organically. Preparations for the AMP migration of major clients are underway and their impact is expected to be felt from 2023 onwards.
The Services division confirmed its dynamism with reported growth of 42.4% delivering revenue of €19.8m, driven by all lines of business and by steady development of the co-sourcing model.
LENDING & LEASING (Q1: €12.8m, +7.2%; Q2: €13.5m, +7.7%; Q3: €13.3m, +5.7%)
Revenue generated by the Lending & Leasing segment was €13.3m in Q3 2022, up 5.7% (+1.9% on a comparable basis). Over nine months, growth was 6.9%, and benefitted from customer migrations to the Linedata Ekip360 and Linedata Capitalstream platforms.
Outlook
With continuing uncertainties affecting the economic outlook, Linedata confirms targeting to generate organic growth on a par with the performance reported for H1 2022.
Next communication: Full-year revenue 2022 on February 6, 2023 after market.
À PROPOS DE LINEDATA
With 20 years' experience and 700+ clients in 50 countries, Linedata's 1100 employees in 20 offices provide global humanized technology solutions and services for the asset management and credit industries that help its clients to evolve and to operate at the highest levels.
Headquartered in France, Linedata achieved revenues of EUR 160.2 million in 2021 and is listed on Euronext Paris compartment B FR0004156297-LIN – Reuters LDSV.PA – Bloomberg LIN:FP. www.linedata.com
Linedata Finance Department +33 1 73 43 70 72 [email protected]
Cap Value Financial communication Gilles Broquelet +33 (0)1 80 81 50 00 [email protected] www.capvalue.fr