LINEDATA SERVICES: 2019 Annual Results: Operating Income up +3.9%
February 19 2020 - 11:45AM
LINEDATA SERVICES: 2019 Annual Results: Operating Income up +3.9%
2019 Annual Results:Operating
Income up +3.9%
|
2018 |
2019 |
Change |
REVENUE |
173.2 |
169.7 |
-2.1% |
EBITDA% of turnover |
44.025.4% |
46.627.5% |
+6.1% |
OPERATING INCOME% of turnover |
28.616.5% |
29.817.6% |
+3.9% |
NET INCOME% of turnover |
19.711.3% |
17.510.3% |
-11.4% |
Rounded, audited figures
Neuilly-sur-Seine, 19 February
2020 – Linedata (LIN:FP), a provider of global solutions
and outsourcing services for the asset management, insurance, and
lending industries, has announced its 2019 annual results, which
show an increase in operating income driven by the momentum of its
software activities.
The Group’s revenues were €169.7 M in 2019,
a 2.1% decrease from 2018. Excluding the non-recurring effect of
the BOT activity in Asset Management, the Group posted pro-forma*
growth of 1.8%.
Linedata accelerated its strategic R&D
investments in 2019 with the continuing development of its new AMP
platform and the preparation of the latest, fullycloud-based
version of Linedata Capitalstream.
EBITDA margin |
2018 |
2019 |
Asset Management |
23.1% |
25.6% |
Lending & Leasing |
27.5% |
28.5% |
Other activities |
51.7% |
55.3% |
Total |
25.4% |
27.5% |
*2018 pro-forma turnover
excludes the BOT (Build Operate Transfer) activity of Gravitas for
which the last client was subject to reversibility at the end of
2018.
Asset Management
The Asset Management business posted 3.5%
pro-forma* growth, boosted by software revenues and sustained
Services revenues. EBITDA was €27.8 M, or 25.6% (22.5%
excluding IFRS 16 impact).
Lending & Leasing
Lending & Leasing revenues were more or less
stable at €56.4 M (-0.6%). The rollout of
Linedata Ekip360 continued as planned with many client
implementations generating maintenance and consulting revenues.
EBITDA reached €16.1 M, or 28.5% (26.7% excluding IFRS 16
impact).
Analysis of results
Group EBITDA was €46.6 M, up 6.1%. This
increase includes the IFRS 16 restatement of rents of
€4.7 M and a decrease in personnel costs of €6.0 M.
Operating income totalled €29.8 M, up 3.9%
compared with 2018. Excluding the IFRS 16 impact, operating
income was €29.5 M, a 2.9% increase.
The financial loss was -€2.8 M versus
-€1.4 M last year. In 2019, it included -€0.6 M for an
IFRS 16 reclassification of interest expenses on rents and
-€0.8 M for exchange rate effects.
After taking into account taxes of €9.5 M,
up €1.9 M compared with 2018, net income totalled
€17.5 M.
Net earnings per share (EPS) amounted to €2.69
in 2019 compared with €2.85 in 2018.
Balance sheet analysis
As of 31 December 2019, the balance sheet
includes the effects of the first-time adoption of IFRS 16,
namely an increase in fixed assets of €12.8 M (user rights)
and an increase in debt of €13.1 M (short-term and long-term
rental liabilities).
Net debt excluding IFRS 16 lease
liabilities was stable at €76.8 M, representing 1.8 times 2019
consolidated EBITDA using like-for-like standards.
Dividend
A dividend of €1.40 per share, up 3.7%, will be
proposed at the next General Meeting.
Outlook
In 2020, Linedata will roll out its new
“Vision 2023” strategic plan, accelerating the digital
transformation of its offers and launching innovative platforms
combining Software, Services and Data.
Its primary focus will be technology and
innovation, customer satisfaction and retention, and increasing
Linedata’s visibility in its target markets.
*2018 pro-forma turnover excludes the BOT (Build
Operate Transfer) activity of Gravitas for which the last client
was subject to reversibility at the end of 2018.
Next announcement: Revenue for
1st quarter 2020: 23 April 2020 after close of trading.
ABOUT LINEDATA
With 20 years’ experience, 20 offices covering
50 countries throughout the world, more than 700 clients and nearly
1,300 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
€169.7m in 2019. Linedata is listed on the Euronext Paris stock
exchange Compartment B, FR0004156297-LIN - Reuters LDSV.PA -
Bloomberg LIN:FPlinedata.com
LinedataFinance Department+33 (0)1 47 77 68
39infofinances@linedata.com |
Cap ValueFinancial communication+33 (0)1 80 81 50
00info@capvalue.frwww.capvalue.fr |
- CP RA 2019 LINEDATA FR VF_EN
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