Neuilly-sur-Seine, 8 July 2015: Linedata (LIN:FP), the global solutions provider to the investment management and credit finance industries, recorded revenues of €83.3m for the first half of 2015, up 9.0% compared with the first half of 2014. At constant exchange rates, revenues fell 2.8%.
In the second quarter of 2015, revenues were €43.3m, up 9.6% (-3.4% on a like-for-like basis) compared with the second quarter of 2014.
Recurring revenues, which represent 71% of turnover, were €59.4m at 30 June 2015, up €5.5m compared with the first half of 2014.
Over the six-month period, bookings amounted to €31.6m, up 23% compared with the same period last year.
Performance analysis by segment
Asset Management (Q1: €24.1m, +18.6%; Q2: €25.8m, +23.0%)
This business continues the trend it showed since the start of the year thanks to a buoyant market environment and a particularly favourable effect of exchange rate variations (+€6.7m over the period). Revenues generated from institutional clients (front and back office) are well-positioned, especially in the English-speaking countries. The breakthrough of the Hedge Funds segment in Asia and the United Kingdom continues, with new orders of €2m since the start of the year, mainly with new customers.
Lending & Leasing (Q1: €13.8m, -0.7%; Q2: €15.1m, -4.4%)
The second quarter registered a more marked fall in revenues for this market segment. This is the result of the postponement of certain projects and the delayed signing of new contracts in 2014.
This trend is expected to be reversed in future thanks to a rise in orders in the first half of 2015 (+€5.3m compared with the first half of 2014).
Other activities (Q1: €2.1m, -23.0%; Q2: €2.5m, -12.2%)
The Insurance segment was stable in the first half at €3.7m.
Revenues generated by Employee Savings, i.e. €0.8m, are down €1.0m compared with the first half of 2014, due to the transfer, to a partner company, of a client’s application maintenance for the Linedata NOEE platform.
Outlook
In the second half, Linedata is looking to return to organic growth thanks to the positive outlook of its Asset Management activity and the expected upturn in its Lending & Leasing business.
Next communication: Publication of results for first half of 2015 on 15 September 2015 after close of trading.
ABOUT LINEDATA
Linedata is a global solutions provider dedicated to the investment management and credit communities, with close to 1000 employees in 15 offices across the globe. Linedata has been at the service of the financial industry from day one, and applies its market and client insight to provide innovative and flexible mission-critical software and services that help its clients grow in over 50 countries. Headquartered in France, Linedata achieved revenues of EUR 158.0 million in 2014. This company is listed on Euronext Paris compartment B FR0004156297-LIN – Reuters LDSV.LN – Bloomberg LIN:FP.