Neuilly-sur-Seine, 27 July 2021 - Linedata (LIN:FP), the global solutions and outsourcing services provider for the asset management, insurance and credit industries, recorded revenues of €75.9 million for the first half of 2021, posting slight organic growth of 0.7% compared with the first half of 2020. After a first quarter that saw a slight decline in revenue on a like-for-like basis (-1.7%), the second quarter realised an increase of 3.1% driven by a sharp upturn in the Lending & Leasing business.
On a reported basis, revenue was down 3.3% due to particularly unfavourable exchange rate effects over the period.
The recurring share of revenues in the first half of 2021 stood at 80% and totalled €61 million.
For the first six months of the year, new orders amounted to €32.7 million, up 23.2% compared with the first half of 2020.
Performance analysis by segment:
ASSET MANAGEMENT (Q1: €25.9M, -8.5%; Q2: €25.5M, -5.6%)
The Software business posted revenues of €42.6m, down 9.4% (-5.2% on a like-for-like basis) compared with the same period in 2020. Consulting saw strong momentum in connection with the rollout of the new AMP platform to customers. Conversely, Back Office revenues were down due to the absence of major projects in the first half.
The Services business continued its growth in the second quarter (+7.7% in Q2 after an increase of +4.0% in Q1) and posted solid growth of 5.8% over the first half (15.8% at constant exchange rates). With the relaunch of projects at asset management firms, Linedata was able to promote its middle-office and risk function co-sourcing offers in order to better support its clients.
Sales activity in Asset Management saw growth over the first half with new orders of €16m, an increase of nearly 10%.
LENDING & LEASING (Q1: €11.9M, - 0.1%; €12.5M, +12.1%)
The Lending & Leasing segment's revenue for the first half of 2021 was up 5.8% compare with the same period in 2020, the second quarter of which was impacted by the health crisis. This growth benefited in particular from the momentum of the Linedata Ekip360 solution, with the continued migration of the existing customer base.
Booking in Lending & Leasing rose sharply to €16.7m, an increase of nearly 40%.
Linedata has benefited since the start of the year from the cost reduction plan launched in the second half of 2020, which allowed it to increase operational profitability in the first half of 2021.
Next announcement: Revenues for the first half of 2021, 13 September 2021, after close of trading.
With 20 years’ experience, 20 offices covering 50 countries throughout the world, 700 clients and 1,100 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 €161.0 million in 2020.
Linedata is listed on the Euronext Paris stock exchange Compartment B, FR0004156297-LIN - Reuters LDSV.PA - Bloomberg LIN:FP.