| € million - IFRS | 2011 | 2012 | Change | Like-to-like change at constant exchange rates* |
|---|---|---|---|---|
| 1st quarter | 31.7 | 34.1 | +7.6% | +0.5% |
| 2nd quarter | 32.3 | 36.2 | +12.3% | +2% |
| 3rd quarter | 34.8 | 34.4 | -1.3% | -6.7% |
| Total 9 months | 98.8 | 104.7 | +6% | -1.5% |
Rounded, unaudited figures
* Includes the company Fimasys from the 3rd quarter of 2011
Neuilly-sur-Seine, 24 October 2012: Linedata (LIN:FP), the global solutions provider dedicated to the investment management and credit finance industries, posted revenues of €104.7 million for the first nine months of 2012, an increase of 6.0% compared with 2011. At constant exchange rates and on a like-for-like basis, revenues decreased by 1.5%.
In the third quarter of 2012, revenues were €34.4 million, compared with €34.8 million in 2011, which is a slight reduction of 1.3%. On a like-for-like basis at constant exchange rates, revenues fell by 6.7% over the previous year. A fall in revenues during the third quarter compared to the first two quarters of the year is customary due to summer holidays during which consulting is lower (impact of €1 million for the quarter).
Recurring revenues have increased by €6.8 million during the first 9 months, reaching €79.1 million, that is to say 76% of total revenues during that period.
Revenues by geographical region :
| IFRS Revenues (€ millions) | 9 Months 2012 | 9 Months 2012 | % change | Like-for-like change at constant exchange rates* |
|---|---|---|---|---|
| Southern Europe | 49.1 | 50.7 | +3.1% | -3.7% |
| Northern Europe | 19.8 | 21 | +6.2% | +0.3% |
| North America | 27.5 | 30.5 | +11.1% | +1.3% |
| Asia | 2.4 | 2.5 | +6.1% | -3.6% |
| Total | 98.8 | 104.7 | +6% | -1.5% |
Rounded, unaudited figures
* Includes the company Fimasys from the 3rd quarter of 2011
SOUTHERN EUROPE (Q1: €17.0 million, +9.1%; Q2: €18.2 million, +9.9%; Q3: €15.5 million, -9.1%)
Quarterly revenues reduced significantly due, in particular, to a fall in the Employee Savings business (-21.6%, or a reduction of €0.7 million). Revenues for the Credit Finance business increased by 12.5% as a result of the Fimasys integration and is stable on a like-for-like basis.
NORTHERN EUROPE (Q1: €6.5 million, -0.6%; Q2: €7.2 million, +9.8%; Q3: €7.4 million, +9.2%)
The back and front office solutions business maintained their momentum supported by a dynamic institutional client base. The Hedge Funds segment is more stagnant with stronger pressure on prices and a higher attrition rate.
NORTH AMERICA (Q1: €9.9 million, +13.2%; Q2: €10.0 million, +18.1%; Q3: €10.6 million, +3.7%)
The North America region continued to grow in the front office with the Linedata Longview suite of products and Linedata LynX connectivity services. It also benefited from favourable exchange rate movements between the dollar and the euro.
ASIA (Q1: €0.8 million, -11.8%; Q2: €0.9 million, +20.1%; Q3: €0.9 million, +13.7%)
In Asia, revenues for the first nine months of 2012 increased by 6.1% compared with 2011 (-3.6% at constant exchange rates).
Outlook:
With a favourable revenue outlook for the 4th quarter, traditionally a stronger period of activity, Linedata anticipates revenue growth for the full year.
Next communication: Publication of 2012 revenues on 5 February 2013 after close of trading.
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ABOUT LINEDATA
Linedata is a global solutions provider with 700 clients operating in 50 countries. With more than 900 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. Headquartered in France, Linedata achieved revenues of EUR 137.3 million in 2011. The company is listed on Euronext Paris FR0004156297-LIN – Reuters LDSV.LN – Bloomberg LIN:FP.
For further information, please contact:
Linedata
Finance Department
+33 (0)1 47 77 68 39
infofinances@linedata.com
www.linedata.com
Cap Value
Financial communication
Gilles Broquelet / Samuel Beaupain
+33 (0)1 80 81 50 00
info@capvalue.fr
www.capvalue.fr
