|
|
2018 |
2018 Pro-forma* |
2019 |
Change |
Change Pro-forma* |
|
ASSET MANAGEMENT |
111.2 |
104.6 |
108.3 |
-2.7% |
+3.5% |
|
LENDING & LEASING |
56.7 |
56.7 |
56.4 |
-0.6% |
-0.6% |
|
OTHER ACTIVITIES |
5.3 |
5.3 |
5.0 |
-5.0% |
-5.0% |
|
TOTAL LINEDATA |
173.2 |
166.6 |
169.7 |
-2.1% |
+1.8% |
Rounded, unaudited figures (€m)
Neuilly-sur-Seine, 6 February 2020 – Linedata (LIN:FP) generated revenues of €169.7 million in 2019, a decrease of 2.1% compared to 2018. On a like-for-like basis, this figure was down 4.6%, mainly due to exchange rate effects. Excluding the impact of the BOT activity, the Group posted pro-forma* growth of 1.8%.
Recurring revenue continued to grow in 2019 (+€2.2m). It reached €127.2m, accounting for 75% of the total. This increase was mainly attributable to revenue from rental licence sales and maintenance.
In 2019, new orders stood at €51.5m, a decrease of 9.7% compared to 2018 as a result of a slowdown at the beginning of the year and the loss of the BOT relationship (€1.7m impact).
Performance analysis by segment:
Asset Management (Q1: €26.6m, -0.5%; Q2: €27.7m, +0.8%; Q3: €25.9m, -5.3%; Q4: €28.1m, -5.6%)
The Asset Management segment posted pro-forma* growth of 3.5%. On a reported basis, revenues were down 2.7%.
The Software activity (€91.2m) performed well in 2019 (+3.6%), thanks mainly to the new Back Office and Trading offers for institutional managers. The Services division continued its positive trend for the entire year, with pro-forma* growth of 2.7%.
Lending & Leasing (Q1: €12.4m, -6.9%; Q2: €15.6m, +14.2%; Q3: €13.2m, -0.6%; Q4: €15.1m, -7.6%)
2019 activity in the Lending & Leasing segment was stable (-0,6%) compared to 2018. The rollout of the Linedata Ekip360 platform continued in line with expectations. New contracts with leading international financial institutions were signed in 2019 for this solution, confirming its market-leading position.
In North America, efforts have focused on the development of a new-generation, 100% cloud-based Capitalstream offer. This credit origination and risk management system, offering scalability, flexibility, and a continuous delivery process, offers financial institutions a cutting-edge digital finance solution. The result of this development phase in 2019 was a certain wait-and-see attitude from the installed user base and prospects, which resulted in a delays in order intake.
Outlook
In 2020, Linedata will roll out its new “Vision 2023” strategic plan, accelerating the digital transformation of its offers and launching innovative platforms combining Software, Services and Data.
When its annual results are published, Linedata will outline this strategic plan to the Financial Community.
*2018 pro-forma revenues exclude the BOT (Build Operate Transfer) activity of Gravitas for which the last client was subject to reversibility at the end of 2018.
Next announcement: 2019 annual results: 19 February 2020, after close of trading.
ABOUT LINEDATA
With 20 years’ experience, 20 offices covering 50 countries throughout the world, more than 700 clients and nearly 1,300 employees, Linedata combines technology and human input to provide asset management, insurance and lending professionals with global solutions. Linedata supports companies as they develop and bolsters the growth of its clients.
Linedata generated revenues of €169.7m in 2019. Linedata is listed on the Euronext Paris stock exchange Compartment B, FR0004156297-LIN - Reuters LDSV.PA - Bloomberg LIN:FP