First half 2013 Revenues: €77.8 million (+10.7%)

Download PDF

 

€ million - IFRS

H1 2012

H1 2013 *

Change

Like-for-like change at constant exchange rates

Southern Europe

35.2

36.6

+4.1%

+4.1%

Northern Europe

13.7

13.0

-4.5%

-1.8%

North America

19.9

26.6

+33.7%

+0.7%

Asia

1.6

1.6

-2.8%

-1.5%

 Total

70.3

77.8

+10.7%

+1.9%

Rounded and unaudited figures
* Integrates CapitalStream business from 22 March 2013

Neuilly-sur-Seine, 24 July 2013: Linedata (LIN: FP), the global solutions provider dedicated to the investment management and credit finance industries, recorded revenues of €77.8 million in the first half of 2013, up 10.7% compared to the first half of 2012. At constant exchange rates and on a like-for-like basis, revenues were up 1.9%.

Second-quarter revenues reached €43.6 million, up 20.3% from €36.2 million (up 4.4% on a like for like basis).

Recurring revenues represent 70% of first-half revenues in 2013, compared to 74% for the same period of 2012. The lower percentage is due to the contribution from CapitalStream in 2013—a division with a business model focused on the sale of perpetual licenses, accompanied by large customisation projects— and an increase in perpetual license revenues in Southern Europe of over €2.5 million.

In the first half of 2013, booking amounted to €34.4 million, up 31% excluding Capital Stream.

Performance analysis by region:

SOUTHERN EUROPE (Q1: €16.6 million, -2.5%; Q2: €20.0 million, +10.3%)

Revenues rose sharply (+10.3%) in the second quarter.
The Credit Finance business reported growth due to higher income from perpetual licenses in particular.

NORTHERN EUROPE (Q1: €6.5 million, +0.9%; Q2: €6.5 million, -9.3%)

In the second quarter of 2013, revenues were down 9.3%, and down 5.7% on a like-for-like basis, mainly due to lacklustre market conditions in the United Kingdom.

NORTH AMERICA (Q1: €10.4 million, +5.4%; Q2: €16.2 million, +61.6%)

North America, which fully integrated the acquisition of CapitalStream in the second quarter of 2013, is up 61.6%. This region now accounts for over 37% of overall activity on the basis of second quarter revenues, i.e. nearly ten points higher than in the same period of 2012. At constant exchange rates and business scope, revenues grew 1.3%, due in particular to increased SaaS revenues.

CapitalStream’s business presents itself favourably with bookings of nearly €5 million since the acquisition. The second quarter provided Linedata with the opportunity to integrate its American teams and to realise initial synergies, both in terms of organisation and sales.

ASIA (Q1: €0.8 million, -1.4%; Q2: €0.8 million, -4.0%)

This area reported revenues that were down 4.0% at €0.8 million, although revenues were virtually stable at constant exchange rates.

Outlook:

The Group’s growth dynamic, which incorporates a significant increase in perpetual license revenues (€3.5 million in total), lead Linedata to anticipate a notable improvement in first-half profitability.

Next release: Publication of 2013 first-half results on 10 September 2013 after close of trading.

 

ABOUT LINEDATA

Linedata is a global solutions provider with 700 clients operating in 50 countries. With more than 1000 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 144 million in 2012. This 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