LINEDATA : Revenues for 1st Quarter 2020: €40.3 million (+0.6%)

Revenues for 1^st Quarter 2020: €40.3 million (+0.6%)

       Rounded, unaudited figures

     (*) The “Other” segment, made up of insurance and retirement savings, has been integrated into AM

Neuilly-sur-Seine, 23 April 2020: Linedata (LIN:FP), global solutions and outsourced services provider for the asset management, insurance and credit finance industries, recorded revenues of €40.3 million for the first quarter of 2020, up 0.6% compared with the first quarter of 2019.

The share of recurring revenues for the first quarter of 2020 represented 81% of overall revenues against 78% for the same period of the previous year, reaching €32.5 million (+€1.1 million).

For the first three months of the year, order intake amounted to €15.7 million, a slight decrease of 1.7% compared to the first quarter of 2019.

While ensuring appropriate care for its employees, clients and partners, Linedata was able to conduct its operations without disruption by implementing remote working, invoking continuity plans that are tested and updated regularly. Linedata has deployed remote working for all its employees across all of its sites.

Clients have expressed their satisfaction with the services delivered by Linedata in the current, difficult environment.

  

Performance analysis by segment:

ASSET MANAGEMENT (Q1: €28.4 MILLION, +2.8%)

During the 1^st quarter of 2020, the Asset Management segment was well-positioned (+2.8%), with growth in both Software and Services.

Software increased by 3.0%, driven by front office solutions (+4.9%), with new versions of Linedata Longview and Linedata’s Funds Services platforms (+1%), particularly in English-speaking countries and in France for insurance and retirement savings.

Services posted an overall increase of 1.2% for the first three months of the year, more pronounced in North America (+3.4%). Over this period, despite working remotely, Linedata has managed to maintain a high quality of service and more than ever remains a leading player in middle-office and risk management outsourcing.

LENDING & LEASING (Q1: €11.9 MILLION, -4.2%)

Revenues for 1^st quarter 2020 in the Lending & Leasing segment were down 4.2% from the same period in 2019. This decrease in activity is mainly explained by major delays in projects in North America, of which the impact on 1^st quarter 2020 income amounted to €0.8 million. However, the Linedata Ekip solution continues to post a positive trend with quarterly growth of 3.0%.

Outlook

Linedata’s current business remains stable and sustained even though some client projects have been suspended.

In the current health crisis, the Group remains particularly vigilant in respect of its costs and investments and has implemented local monitoring for all of its activities since the start of the crisis.

Thanks to its robust and recurring business model, Linedata remains confident that it will calmly navigate this period of uncertainty, the duration and extent of which is not yet known.

Next announcement: Revenues for 1^st half of 2020: 28 July 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 €169.7 million in 2019. Linedata is listed on the Euronext Paris stock exchange Compartment B, FR0004156297-LIN - Reuters LDSV.PA - Bloomberg LIN:FP

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