2010 9-month revenues: € 103.2 million (down 2.9%)
IFRS Revenues (€ millions) 9 Months 2009 9 Months 2010 % change % change at constant exchange rates
Southern Europe 54.8 50.3 (8.1%) (8.1%)
Northern Europe 24.2 21.7 (10.5%) (13.3%)
North America 24.5 28.4 15.8% 11.7%
Asia 2.7 2.8 1.6% (1.8%)
Total 106.2 103.2 (2.9%) (4.6%)
Rounded, unaudited figures
Neuilly-sur-Seine, France, 21 October 2010 – 5.45 pm: Linedata (LIN:FP), the global solutions provider dedicated to the investment management and credit industry, achieved revenues of € 33.4 million in the 3rd quarter of 2010, an increase of 5.4% at current exchange rates (or 0.8% at constant exchange rates) due to a € 1.5 million positive exchange rate impact.
Business growth was driven in the quarter by buoyant sales in North America.
Revenues totalled € 103.2 million over the first 9 months of the year, a slight 2.9% decline at current exchange rates, down 4.6% at constant exchange rates.
Over the same period, recurring revenues increased by € 1.8 million and represented 72% of the total, compared to 68% for the first 9 months of 2009.
Concurrently, the Group recorded 59 contract signatures, of which 11 with new customers.
Analysis of performance by geographical region:
SOUTHERN EUROPE (Q1: € 17.9 million, down 9.1%; Q2: € 18.3 million, down 5.2%; Q3: € 14.1 million, down 10.5%)
In this region, quarterly revenues decreased by 10.5% compared to the same period of 2009, due to the substantial decline of the Insurance operations following the end of the Linedata Master-I project implementation phase.
Sales from other operations were stable due notably to high recurrence of revenue for the Linedata Noee and Linedata Chorus products.
NORTHERN EUROPE (Q1: € 6.9 million, down 11.5%; Q2: € 6.4 million, down 20.1%; Q3: € 8.3 million, down 0.3%)
In this region, quarterly revenues were virtually unchanged following the sharp decline of the first half of the year.
Moreover, the strengthened sales and marketing team has expanded the portfolio of prospective customers.
NORTH AMERICA (Q1: € 8.5 million, down 1.7%; Q2: € 10.0 million, up 7.6%; Q3: € 9.9 million, up 50.6%)
Business was again driven in America by the commercial success of the Linedata Longview and Linedata Compliance offers and a favourable €/USD exchange rate.
Major contracts were signed in the 3rd quarter, allowing Linedata to look forward to a strong short-term growth outlook in this strategic region.
ASIA (Q1: € 0.9 million, up 20.5%; Q2: € 0.8 million, down 19.4%; Q3: € 1.1 million, up 7.3%)
Asia, which benefited from favourable exchange rates, primarily derived its growth from increased maintenance revenues in all segments. 14 contracts have been signed in the region since the start of the year.
The Group forecasts a slight decline in 2010 full-year revenues compared to 2009. However, Linedata expects a substantial increase in profitability due to improved direct cost control.
For 2011, Linedata intends to continue to invest in sales and marketing and maintain its innovation capacity at a high level in order to support organic growth.
Shareholders’ agenda: publication of 4th quarter 2010 revenues on 8 February 2011, after close of trading.
Linedata is a global solutions provider with 700 clients operating in 50 countries. With more than 840 employees across the globe, Linedata is dedicated to the investment management and credit community. Linedata has been at the service of the financial industry from day one, and applies its market and client insight to provide innovative and tailored mission-critical software and services that help its clients grow. As a pioneer for over 10 years with the set up of ASP infrastructure for the financial industry, Linedata has preached and spread this model throughout the global financial community, for its full range of products. Headquartered in France, Linedata achieved revenues of EUR 144.5 million in 2009. This company is listed on Euronext Paris FR0004156297-LIN – Reuters LDSV.LN – Bloomberg LIN:FP.
For further information, please contact:
+33 (0)1 47 77 68 25
Gilles Broquelet / Olivier Paria
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