Neuilly-sur-Seine, 26 October 2015: Linedata (LIN:FP), the global solutions provider to the investment management and lending and leasing industries, realised revenues of €126.0 million in the first 9 months of 2015; an 8.9% increase compared to 30 September 2014. At constant exchange rates, revenues were down slightly by 1.6%.
In the 3rd quarter of 2015, revenues were €43.3 million, a 10.2% increase compared to the 3rd quarter of 2014. Slight organic growth of 0.9% was achieved during the quarter.
Recurring revenues, which represent 72% of total revenues, were €90.7 million in the 9 months to date, an increase of €9.1 million compared to the same period last year.
During the first 9 months, bookings amounted to €43.6 million, compared to €45.3 million at the end of September 2014, a decrease of 3.7%.
PERFORMANCE ANALYSIS BY SEGMENT
Asset Management (Q1: €24.1m, +18.6%; Q2: €25.8m, +23.0%; Q3: €25.4m, +15.6%)
This market segment has remained dynamic during the period with institutional and alternative fund customers. The hedge funds segment performed particularly well with revenues of €3.8 million for the quarter, an increase of 28% at current exchange rates and 12.4% at constant exchange rates.
Over the three quarters, Asset Management benefited from a very favourable exchange rate effect of €9.2 million. Organic growth without this favourable exchange rate impact was 4.3%.
Lending & Leasing (Q1: €13.8m, -0.7%; Q2: €15.1m, -4.4%; Q3: €15.6m, +4.9%)
Following the downturn in revenues for the first-half, the 3rd quarter improved with revenue growth of 4.9%. This recovery was due mainly to a good performance of the back-office solutions business, especially Linedata Uniloan and Linedata Ekip, which together posted revenues of €9.9 million for the quarter, an increase of 17% (or +14.9% on a like-for-like basis).
Since the start of the year, revenues for this segment have been stable with an organic decrease of 6.6%.
Other activities (Q1: €2.1m, -23.0%; Q2: €1.9m, -30.5%; Q3: €2.2m, -6.6%)
Nearly 90% of this segment now comes from the Insurance business which, since 1 January 2015, has recorded revenues of €5.6 million (+4.6% compared with the same period in 2014).
The Group expects the upward trend to continue for the rest of the year across its entire business.
Next communication: Publication of the 2015 turnover on Thursday 4 February 2016 after close of trading.
Linedata is a global solutions provider dedicated to the investment management and credit communities, with close to 1000 employees in 16 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.