Intertrust reports Q4 and FY 2018 results
07 Février 2019 - 7:15AM
Amsterdam, the Netherlands - 7
February 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 fourth quarter and full year ended 31 December 2018.
Q4 2018
Highlights
-
Revenue increased 3.3% underlying year-on-year
to EUR 132.7 million.
-
Adjusted EBITA amounted to EUR 50.0 million,
decrease of 2.6%, due to one-off HQ costs.
-
Adjusted EPS decreased 2.4% to EUR 0.41 due to
higher finance expenses.
-
Refinancing successfully completed consisting of
senior unsecured notes and new senior facilities.
-
Strong cash flow generation of EUR 69.5 million,
an increase of more than 40%.
FY 2018
Highlights
-
Full year 2018 results well within guidance.
Guidance 2019 reiterated.
-
Revenue of EUR 496.1 million, an underlying
increase of 3.5% year-on-year.
-
Adjusted EBITA amounted to EUR 185.9 million, up
1.8% on an underlying basis.
-
Adjusted EBITA margin of 37.5% (FY 2017:
38.2%).
-
Adjusted EPS increased 0.7% to EUR 1.54.
-
Cash flow from operating activities increased
18% to EUR 185.0 million.
-
Effective tax rate (ETR) of 8.6% due to a
one-off adjustment mainly as a result of tax rate changes in the
Netherlands (adjusted ETR 18.2%).
-
Proposed final dividend of EUR 0.32 per share,
resulting in total dividend of EUR 0.62 (FY 2017: EUR 0.61).
To read the full Q4 and FY 2018
results press release, please open the attached file or download
here.
The supporting Q4 and FY 2018 results presentation is available on
our website.
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:
"We are pleased to have consistently delivered on our full year
2018 guidance. Our cash flow generation was very strong as a result
of enhanced working capital management. Our full year underlying
revenue increased by 3.5% to EUR 496.1 million with our underlying
EBITA having grown by 1.8% to EUR 185.9 million. The adjusted EBITA
margin amounted to 37.5%.
Our operating environment continues to be more advanced and more
sophisticated. So, with a very clear strategy in place, Intertrust
is changing at a faster and faster pace which will make us stronger
and more successful than ever. We made significant progress in 2018
and created a strong foundation to facilitate future success, from
which our clients will benefit. One key initiative I would like to
highlight is our Client Portal which we have launched this January.
This is a testament of our ability to deliver on our promises, and
on our strategy. Furthermore, launching the Client Portal marks a
major milestone in further advancing our client service. As always,
work remains to be done. We continue to invest to become the
leading tech-enabled corporate and fund solutions provider. We
continue to execute our strategy and we continue to drive longterm
profitability, having embedded purpose in our business model and
corporate strategy. We are confident about delivering on our
medium-term expectations.
We will propose a final dividend of EUR 0.32 per ordinary share at
our Annual General Meeting of Shareholders on 16 May 2019,
resulting in a total dividend for 2018 of EUR 0.62."
Intertrust_reports_Q4_and_FY_2018_results
This
announcement is distributed by West Corporation on behalf of West
Corporation clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Intertrust Group via Globenewswire