LIN Linedata Services SA

 Rounded, unaudited figures

* Includes Derivation activity from April 2016

** Includes Gravitas activity from January 2017 and QRMO activity from August 2017

Neuilly-sur-Seine, 19 October, 2017 - Linedata (LIN:FP), the global solutions provider dedicated to the investment management & lending and leasing industries, generated revenues of €131.9 million during the first three quarters of 2017, up 7.1% compared to the same period of 2016.

On a like-for-like basis and at constant exchange rates, excluding the integration of Gravitas and QRMO from 2017, there was a decrease in revenues of 6.1%.

In the third quarter of 2017, the Group's revenues were €41.2 million, up 3.1% compared to the same period of the previous year. On a like-for-like basis and at constant exchange rates, revenues were down 7.4%.

Recurring incomes for the first nine months of 2017 were €95.6 million, compared to €90.1 million for the same period in 2016, a 6.1% increase. This represents a stable 73% of total revenue.

At 30 September, 2017, bookings were flat at €34.4 million.

Performance analysis by segment:

Asset Management (Q1: €31.3m, +26.5%; Q2: €30.0m, +23.2%; Q3: €27.5M, +12.6%)

Since the beginning of 2017, Asset Management has confirmed a growth dynamic driven by the successive contributions of Gravitas, acquired in January 2017, and more recently QRMO, in August 2017. The segment posted 20.8% growth compared with 30 September, 2016 but was down 1.4% on a like-for-like basis and at constant exchange rates. This slight decrease is explained in particular by the decline in the back-office activity in the United Kingdom resulting from a post-Brexit wait-and-see attitude.

Lending & Leasing (Q1: €13.0m, -5.8%; Q2: €13.5m, -16.2%; Q3: €12.7M, -8.3%)

Lending & Leasing revenues were down 10.4% during the first three quarters of 2017. This decrease is explained by a lower level of bookings in North America since the beginning of the year and an unfavourable comparison base due to high levels of perpetual license revenues recognized in 2016 in Europe on migrations to the new version of Linedata Ekip³⁶⁰.

Outlook

The Group is moving forward with its Linedata 2018 strategy, extending its solution offerings with expanded services to meet the outsourcing demands of its clients and, more generally, its markets segments. Within this context, the contributions of Gravitas and QRMO should gradually accelerate as they are integrated and synergies are realised.

This strategy also includes significant investments in the Group's main software platforms and an ambitious digital transformation initiative that will enable to maintain a high level of growth.

For the 2017 financial year overall, Linedata anticipates an increase in its revenues thanks to the contribution of its recent acquisitions. However, and as indicated previously, the anticipated underlying negative organic growth rates, in conjunction with integration costs for recent acquisitions and higher R&D costs, will lead to a degradation of operational performance compared to 2016.

Next communication: Publication of 2017 revenues, 7 February, 2018, after close of trading.

ABOUT LINEDATA

Linedata is a global solutions provider dedicated to the investment management and credit finance communities, with close to 1250 employees in 20 offices across the globe. Linedata has been at the service of the financial industry from day one, and applies its market and client insight to provide innovative and flexible mission-critical software and services that help its clients grow in over 50 countries. Headquartered in France, Linedata achieved revenues of EUR 166.8 million in 2016. This company is listed on Euronext Paris compartment B FR0004156297-LIN - Reuters LDSV.PA - Bloomberg LIN:FP.

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