LINEDATA SERVICES :2017 Revenues: €179,0 M€ (+7,3%)
2017 Revenues: €179,0 M€ (+7,3%)
|1st Half||2nd Half||Year|
|LENDING & LEASING||29,9||26,5||-11,4%||29,6||28,4||-3,9%||59,4||54,9||-7,7%|
Rounded unaudited figures
(1) Includes Derivation activity from April 2016
(2) Includes Gravitas from January 2017 and QRMO activity from August 2017
Neuilly-sur-Seine, 7 February, 2018 - Linedata (LIN:FP), the global solutions and outsourcing services provider to the investment management and credit finance industries, generated revenues of €179.0 million in 2017, up of 7.3% compared to 2016.
After adjustments for a negative exchange rate impact of -€3.2M and a positive contribution made by the latest acquisitions (Derivation in April 2016, Gravitas in January 2017 and QRMO in August 2017) of €24.0M, Linedata is reporting negative organic growth of 5.2% compared to 2016.
Recurring revenues for 2017 were €127.3M, compared with €121.2M in 2016, a €6.1M increase. It accounts for 71% of revenues.
In 2017, booking grew of 8.6% to €56.0M, against €51.5M in 2016. In the last quarter of 2017, bookings realized a high performance at €21.9M (up 25.5% compared to the same period of 2016).
Performance analysis by segment:
Asset Management (Q1: €31.3M, +26.5%; Q2: €30.0M, +23.2%; Q3: €27.5M, +12.6%; Q4: €29.9M, +16%)
In 2017, Asset Management has confirmed a growth dynamic of 19.6% driven by the contributions of Gravitas and QRMO acquired during the year. These acquisitions bring a new dynamic to Linedata's software offering by adding a Services and Outsourcing component that is particularly sought after on the market.
In Europe, the asset management industry is investing significantly in regulatory reforms such as MiFID II, but is suffering from "wait-and-see" attitudes post-Brexit. More globally, asset management companies are gradually launching their digital revolution based on three major themes: big data, artificial intelligence and blockchain. Linedata continues to provide its customers with its expertise on these subjects.
Lending & Leasing (Q1: €13.0M, -5.8%; Q2: €13.5M, -16.2%; Q3: €12.7M, -8.3%; Q4: €15.7M, -0.1%)
The recovery in business activity in the last quarter (bookings up 22.4%) enabled Linedata to reverse the downturn in revenues seen in the segment since the start of the financial year, despite unfavorable base effects in Europe, due to a high level of perpetual licenses revenues recognized in 2016 on migrations to the new version of Linedata Ekip360. In North America, the Company finalized the new version V11.0 of its Linedata Capitalstream product, which allowed it to sign new contracts.
As the end of 2017, Linedata offers two fully modular global solutions that allow it to provide broad functional coverage in the areas of credit origination, administrative management of accounts receivable and fleet management.
In 2018, Linedata will finalize the integrations of Gravitas and QRMO, and accelerate the ramp-up of the major AMP (Asset Management Platform) project, aiming to bring to market a new modernized platform that is fully focused on the user experience and digital transformation. A first version should be marketed by the end of the year.
In the Lending & Leasing segment, Linedata will benefit from the positive spin-offs of its new version of Linedata Capitalstream and the migrations of customers to Linedata Ekip360.
Building on these developments and the uptick in business in the last quarter of 2017, Linedata is confident that it will be able to maintain its level of growth in 2018.
Next communication: Publication of 2017 annual results on 13th February, 2018, after close of trading.
With 20 years' experience and 700+ clients in 50 countries, Linedata's 1300 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 179.0 million in 2017 and is listed on Euronext Paris compartment B FR0004156297-LIN - Reuters LDSV.PA - Bloomberg LIN:FP.
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