Intertrust reports Q1 2019 results
25 Avril 2019 - 07:15AM
Amsterdam, the Netherlands - 25
April 2019 - Intertrust N.V. ("Intertrust" or "Company") [Euronext:
INTER], a leading global provider of expert administrative services
to clients operating and investing in the international business
environment, today publishes its results for the first quarter
ended 31 March 2019.
Q1 2019
Highlights
-
Revenue increased 2.1% to EUR 125.3 million (Q1
2018: EUR 120.1 million).
-
Adjusted EBITA amounted to EUR 45.3 million (Q1
2018: EUR 45.3 million).
-
Adjusted EBITA margin of 36.1% in line with
guidance.
-
Adjusted EPS of EUR 0.37 (Q1 2018: EUR
0.37).
-
Continued strong deleveraging resulted in a
leverage ratio of 3.14x.
-
Guidance for 2019 is reiterated.
-
IFRS 16 has been implemented as of 1 January
2019. A breakdown of the impact of IFRS 16 is presented on page
7.
-
Adjusted Q1 2019 numbers (excluding IFRS 16
impact) are used for comparison purposes unless stated
otherwise.
Analyst call /
webcast
Today, Intertrust's CEO Stephanie Miller and CFO Hans Turkesteen
will hold an analyst call at 13:00 CET. A webcast of the call will
be available on the Company's website. The webcast can be accessed
here. The supporting presentation can be downloaded from our
website.
Stephanie Miller,
CEO of Intertrust, commented:
"The first quarter of 2019 started with modest
revenue growth and EBITA margin in line with our expectations. We
are continuing to expand our Funds business and have increased our
revenues in Capital Markets, our strategic growth areas which
together represent almost half of our business. We saw revenue
growth in the Americas and Rest of the World segments, while
revenue in Western Europe was in line with the same quarter last
year.
"We are on track with executing
on our strategy: we expanded into Canada, announced the acquisition
of ABN AMRO's escrow and settlement business, broadened our
portfolio of services by introducing fund finance services in the
UK - a specialised Capital Markets service - and obtained a license
to offer fund administration services in Ireland. More importantly,
we are transforming the company by injecting technology into our
operations and client service such as the launch of IRIS, our
global client portal. I am excited about the agreement with Viteos
that we announced last month, as our collaboration enables us to
continue our journey to become the leading tech-enabled corporate
and fund solutions provider."
intertrust-nv-q1-2019-results-press
release
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information contained therein.
Source: Intertrust Group via Globenewswire