Neuilly-sur-Seine, 24 April 2023 – Linedata (Euronext Paris: LIN), the global solutions and outsourcing services provider to the investment management and credit finance industries, generated revenue of €41.7 million in the first quarter of 2023, growing by 4.0% compared to the first quarter of 2022. Adjusted for exchange rate movements, organic growth was 2.9%, confirming an upward trend of +1.3 percentage points compared with organic growth in the first quarter of 2022.
Recurring revenue also increased by 3% in reported terms and 2% in organic terms. It represented 79% of total revenue.
Sales activity remained dynamic with an order intake of €20.1 million, that is an increase of 8.9% compared to Q1 2022, driven by both business segments.
Performance by segment:
ASSET MANAGEMENT (Q1: €29.1 million, +6.3%)
In Q1 2023, Asset Management continued its growth trajectory, posting an increase of 6.3% in reported terms.
The Software business achieved almost stable revenue of €21.2 million. Revenue for Front Office solutions was up 7.9%, driven by continued migrations to new platforms.
The Services division maintained its robust momentum, delivering strong quarterly revenue growth of 32.0%. This steady upward trend over the last two years is underpinned by the innovations behind Linedata's co-sourcing solution for fund managers.
LENDING & LEASING (Q1: €12.6 million, -0.8%)
Revenue for the first quarter of 2023 stood at €12.6 million, almost stable compared to the same period in 2022. Sales activity was solid in North America where revenue increased by 4.9%.
Outlook
For the coming months and with continuing uncertainties affecting the economic outlook, Linedata is pursuing its objective to maintain organic growth.
Next communication: H1 2023 revenue on 24 July 2023 after trading.
ABOUT LINEDATA
With 25 years’ experience and 700+ clients in 50 countries, Linedata’s 1100 employees in 20 offices provide global humanized technology solutions and services for the asset management and credit industries that help its clients to evolve and to operate at the highest levels.
Headquartered in France, Linedata achieved revenues of EUR 172.7 million in 2022 and is listed on Euronext Paris compartment B FR0004156297-LIN – Reuters LDSV.PA – Bloomberg LIN:FP.
www.linedata.com