Neuilly-sur-Seine, 28 April 2015: Linedata (LIN:FP), the global solutions provider to the investment management and credit finance industries, recorded revenues of €40.0m in the first quarter of 2015, an 8.3% increase on the 1st quarter of 2014. At constant exchange rates, revenues were down 2.2%.
Recurring revenues, which represent 75% of turnover, stood at €30.0m for the 1st quarter 2015, a €3.8m increase compared to the 1stquarter of 2014.
Thanks to favourable exchange rate variations and the signing of new Linedata Capitalstream deals, the total order intake for the 1st quarter of 2015 was €15.4m, an increase of €2m over the same period for 2014.
PERFORMANCE ANALYSIS BY SEGMENT:
Asset Management (Q1: €24.1m, +18.6%)
This business has greatly benefited from the positive effect of exchange rate variations thanks to Linedata’s strong presence in USD and GBP areas where its Asset Management solutions are widely used. The Asset Management businesses continue to perform well in the United Kingdom, particularly in the back-office segment where the Linedata Icon and the Linedata Icon Retail products generated a favourable revenue impact of €1m over the period.
Revenues for the front-office solutions increased by €2.0m thanks to increases in consulting and recurring licence revenues.
Lending & Leasing (Q1: €13.8m, -0.7%)
In the first quarter, revenues were impacted, as announced at the end of 2014, by the delayed signing of certain new agreements and the postponement of some large projects. This primarily affected Linedata Capitalstream in North America where revenues recorded a decrease of 8.5% at constant exchange rates.
In Europe, revenues were down €0.5m due to delays with some projects.
Other activities (Q1: €2.1m, -23.0%)
This business segment includes company sponsored Employee Savings and Insurance.
Insurance was down 17%, or €0.3m, over the period, due to a lack of new projects.
Employee Savings revenues, down by €0.3m, were impacted by the transferal of a client’s application maintenance for the Linedata NOEE platform to a third party.
For the full year the Group maintains its objective of a return to organic growth driven by the launch of new versions of its main products.
Next communication: publication of revenues for the 2nd quarter 2015, on 30 July 2015, after close of trading.
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.