Neuilly-sur-Seine, 14 February 2012: Linedata (LIN: FP), the global solutions provider for the investment management and credit finance industries, posted revenue of €39.0 million for the fourth quarter of its 2011 financial year, up 18.1% compared to the fourth quarter of 2010, representing a like-for-like increase of 12.0% at constant exchange rates.
This significant recovery in activity in the second half of the year, combined with the acquisition of Fimasys, enabled Linedata to record revenue of €137.8m for the full year, up 1.2% compared to 2010. The recurring component of this represents 71% of revenue, compared to 73% in 2010.
New bookings in 2011 reached €47.1m (€49.2m including Fimasys), up €12.2m compared to the previous year. This increase was mostly driven by front-office products in the United States and back-office products in Northern Europe.
PERFORMANCE BREAKDOWN BY GEOGRAPHICAL AREA:
SOUTHERN EUROPE (Q1: €15.2m, -15.4%; Q2: €16.1m, -11.9%; Q3: €16.6m, +17.5%; Q4: €20.0m, +31.6%)
In Southern Europe, revenue grew by 3.6% compared to 2010 thanks to the good performance of the Credit Finance business and the contribution of Fimasys in the second half of the year. On a like-for-like basis, annual revenue dropped slightly, by 2.5%.
Sales activity in the second half of the year was dynamic with the signing of over €15m of new business.
NORTHERN EUROPE (Q1: €6.9m, +0.3%; Q2: €6.2m, -4.0%; Q3: €8.0m, -3.9%; Q4: €6.1m, +5.6%)
Northern Europe recorded a small decrease of 0.9% at actual exchange rates, but was stable at constant exchange rates compared to 2010, due in particular to the development of the ASP model.
NORTH AMERICA (Q1: €8.7m, +2.8%; Q2: €9.4m, -6.4%; Q3: €9.4m, -5.4%; Q4: €12.3m, +4.8%)
In North America, at constant exchange rates, revenue grew by 3.9% but decreased slightly, by 0.9%, at actual exchange rates, due in particular to the unfavourable euro/dollar parity. The region benefited from a recovery in consulting activity with the implementation of newly signed projects.
ASIA (Q1: €0.9m, -6.4%; Q2: €0.6m, -23.9%; Q3: €0.9m, -16.7%; Q4: €0.7m, +78.0%)
In Asia, 2011 revenue decreased by 4.1% compared to 2010, but increased by 0.8% at constant exchange rates. In the final quarter of 2011, Linedata recorded a 78% rise in revenue compared to the 4th quarter of 2010. This performance at the end of 2011 validates the investments made in this region by Linedata since the beginning of the year.
A dynamic second half year should enable Linedata to improve its margins in 2011.
For 2012, the Group anticipates higher revenue due to its healthy order book and the contribution of Fimasys for the full year.
Next communication: publication of 2011 annual results on 19 March 2012 after close of trading.
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. As a pioneer for over 10 years with the set up of SaaS 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 137.8 million in 2011. This company is listed on Euronext Paris FR0004156297-LIN – Reuters LDSV.LN – Bloomberg LIN:FP.