Neuilly-sur-Seine, 3rd February 2022 – Linedata (LIN:FP) realised full-year 2021 revenues of €160.2M, down 0.5% compared to 2020. Adjusted for unfavourable exchange rate movements, organic growth was +0.5%.
The recurring share of total revenue stood at 78%, reflecting a decline of one percentage point compared with a year earlier. Non-recurring revenue increased by €2M mainly in view of the sharp increase in consulting linked to clients migrating to the new platforms and growth of the Asset Management Services division.
With the increased contribution from new product versions in both segments, Linedata’s 2021 orders were up 7.1% compared with 2020, to a total of €59.4M.
Performance by segment:
ASSET MANAGEMENT (Q1: €25.9M, -8.5%; Q2: €25.5M, -5.6%; Q3: €25.3M, -1.0%; Q4: €31.0M, +8.2%)
In 2021, revenue in the Asset Management segment came to €107.8M, a decrease of 1.7% on a reported basis. At constant exchange rates, business was almost stable (-0.2%) compared with a year earlier.
Software revenue was €88.4M, down 4.6%. It was impacted by a decline in revenue in the fund servicing segment which was not offset by additional revenue from migrations to the new AMP platform.
The Services division enjoyed strong momentum in 2021 with revenue of €19.4M up 14.2%. New offerings targeting Hedge Funds, facilitating the outsourcing of some of their support functions, enabled Gravitas and QRMO to increase growth.
Order intake for the Asset Management activity held up well at €31.9M, a significant growth of 12.5% compared with 2020.
LENDING & LEASING (Q1: €11.9M, -0.1%; Q2: €12.5M, +12.1%; Q3: €12.6M, +13.5%; Q4: €15.5M, -10.5%)
The Lending & Leasing activity, posting €52.4M, enjoyed growth of 2.0% in 2021. The division benefited from revenue generated by numerous migration projects of the installed base to the Linedata Ekip360 platform.
The fourth quarter, delivered the best performance of 2021, although this was down 10.5% compared with the same quarter of the previous year due to a large perpetual licence that was recognised for a new client in the last quarter of 2020.
2021 orders, standing at €27.5M, were up slightly, by 1.4%.
Outlook
Linedata will present its full-year results to the financial community on February 15th. These should confirm the underlying improvement in all profitability indicators observed during the first half of the year.
Next event: Full-year results 2021, on 14th February 2022, after market.
ABOUT LINEDATA
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 €160.2M in 2021. Linedata is listed on the Euronext Paris stock exchange Compartment B FR0004156297-LIN – Reuters LDSV.PA – Bloomberg LIN:FP