LINEDATA: Revenue for the first 9 months of 2019: €124.8m
October 22 2019 - 11:45AM
LINEDATA: Revenue for the first 9 months of 2019: €124.8m
|
9
months 2018 |
9 months 2018Pro-forma* |
9
months 2019 |
Change |
ChangePro-forma* |
ASSET MANAGEMENT |
81.6 |
77.0 |
80.2 |
-1.7% |
+4.1% |
LENDING & LEASING |
40.3 |
40.3 |
41.2 |
+2.3% |
+2.3% |
OTHER ACTIVITIES |
3.7 |
3.7 |
3.4 |
-6.7% |
-6.7% |
TOTAL LINEDATA |
125.5 |
121.0 |
124.8 |
-0.5% |
+3.2% |
Rounded, unaudited figures (€m)
Neuilly-sur-Seine, 22 October
2019 – Linedata (LIN:FP) realised revenues of
€124.8 million during the first nine months of 2019, broadly stable
compared to the same period in 2018. On a like-for-like basis,
activity was down 3.3%, solely due to exchange rate effects.
Excluding the impact of the BOT activity, the Group posted
pro-forma growth of 3.2%, with the start-up Loansquare acquired in
January not having yet contributed to revenues.
The recurring share of revenue continues to grow
(+€2.0 million), reaching €94.0 million. As of the end of September
2019, this represented 75% of total revenue. This increase
was driven, in particular, from the growth of SaaS revenues and
recurring, subscription licences fees.
Order intake totalled €35.3 million, down 14.6%
compared to the first nine months of 2018, due to delayed signings
since the start of the year.
Performance analysis by segment:
ASSET MANAGEMENT (Q1: €26.6M, -0.5%; Q2:
€27.7M, +0.8%; Q3: €25.9M, -5.3%)
Restated for the loss of the BOT contract at the
end of 2018, which accounted for €4.5 million over the first nine
months of the year, the Asset Management segment posted pro-forma
growth of 4.1%. Without restatement, revenues for the segment were
down 1.7%.
The Software component of the business (€67.5m)
confirmed a positive trend (+3.2%), driven by the success of the
BackOffice offerings in the UK and the US. The Services division
continued its development and posted pro-forma growth of 9.2%.
LENDING & LEASING (Q1: €12.4M, -6.9%; Q2:
€15.6M, +14.2%; Q3: €13.2M, -0.6%)
Revenues at the end of September 2019 of the
Lending & Leasing segment were up 2.3% compared with the same
period in 2018 and benefited thanks in part to the deployment of
the Linedata Ekip360 solution among the existing base and new
customers.
*2018 pro-forma revenues exclude the BOT
(Build Operate Transfer) activity of Gravitas for which the last
client was subject to reversibility at the end of 2018.
Outlook
In the fourth quarter, the Group anticipates a
significant improvement in order intake, driven in particular by
the signing of significant projects in the Lending & Leasing
segment. This should help mitigate booking delays over the
financial year.
For the whole year, Linedata anticipates
revenues close to those of 2018 despite the unfavourable impact of
the ending the BOT activity.
Next announcement: 2019 annual revenues,
6 February 2020, after close of trading.
ABOUT LINEDATA
With 20 years’ experience and 700+ clients in 50
countries, Linedata’s 1300 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 173.2M in 2018 and is listed on
Euronext Paris compartment B FR0004156297-LIN – Reuters LDSV.PA –
Bloomberg LIN:FP.linedata.com
LinedataFinance Department+33 (0)1 73 43 70
27infofinances@linedata.com |
Cap ValueFinancial Communications+33 (0)1 80 81 50
00info@capvalue.frwww.capvalue.fr |
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