LINEDATA SERVICES : 2017 annual results - a reflection of the Group's investment strategies
13 Février 2018 - 6:00PM
2017 annual results - a
reflection of the Group's investment strategies
|
2016 |
2017 |
Change |
REVENUES |
166.8 |
179.0 |
+7.3% |
EBITDA
% of revenues |
49.9
29.9% |
43.5
24.3% |
-12.7% |
OPERATING PROFIT
% of revenues |
39.1
23.4% |
30.2
16.9% |
-22.8% |
NET PROFIT
% of revenues |
23.6
14.1% |
19.8
11.1% |
-16.1% |
Rounded audited figures
Neuilly-sur-Seine, 13 February, 2018 - Linedata (LIN:FP), the global solutions and
outsourcing services provider to the investment management and
credit finance industries, is announcing 2017 annual results which
reflect, as expected, the acceleration of the "Linedata 2018"
plan.
In 2017, the Group generated
revenues of €179.0M, up 7.3% compared to 2016. On a like-for-like
basis, business is down 5.2% compared to 2016.
At the start of the 2017 financial
year, the Group launched an ambitious transformation of its
technology and software platforms. At the same time, the
integration of two new businesses, Gravitas and QRMO, required
exceptional investment efforts with a one-off impact on
results.
In line with its strategic plan,
Linedata increased its R&D spending by 11.6% to €19.4M. This
increase, coupled with the costs of integrating new businesses with
services-orientated offerings, has resulted in a Group EBIDTA of
€43.5M (24.3% of revenues).
EBITDA Margin
Rate |
2016 |
2017 |
Asset
Management |
30.5% |
23.5% |
Lending &
Leasing |
25.1% |
24.5% |
Other
business |
58.4% |
40.7% |
Total |
29.9% |
24.3% |
Asset Management revenues were up
significantly, by 19.6%, thanks to positive contributions of €24M
from Derivation, Gravitas and QRMO. On a like-for-like basis and at
constant exchange rates, revenues were down 1.9%, mainly due to
"wait-and-see" postures in the face of Brexit negotiations. EBITDA
in the segment reached €27.9M. The EBITDA margin was 23.5%, down on
2016 due, in particular, to the rising costs of R&D and
acquisitions.
The Lending & Leasing segment
was able to limit the reduction in its annual revenues to 7.7%
thanks to a strong end-of-year performance, which enabled the Group
to post a rise in its business activity, including a 22.4% growth
in bookings. EBITDA reaches €13.5M, a margin of 24.5%, almost the
same as in 2016.
Analysis of
results
The operating profit is €30.2M,
down 22.8% on 2016. This reflects the rise in depreciation charges
following the acquisitions made during the year and the rise in
depreciation charges on capitalized R&D.
The financial result is -€7.9M,
compared with -€3.2M in the previous year, as a result of the
negative impact of variations in the euro/dollar exchange rate on
intercompany loans and current accounts and the rise in interest on
debt linked to the growth in average outstanding credit
balances.
After accounting for tax of €2.5M,
a substantial reduction compared to €9.8M in 2016, the net profit
was €19.8M, compared with €23.6M in 2016.
Net earnings per share (NEPS) were
€2.75 in 2017 compared with €3.27 in 2016.
Balance sheet
analysis
At 31st December,
equity capital was €115.4M, a slight rise of 0.5% on
2016.
Net indebtedness was €77.7M compared with €39.7M in 2016 as a
result of the additional debt incurred to finance the Group's
growth by acquisition.
Dividend
A dividend of €1.35 per share will
be proposed at the next Shareholder's Meeting.
Outlook
Linedata is confirming its
confidence in its continued growth in 2018.
The synergies expected with
Gravitas and QRMO, the ramping-up of the new AMP (Asset Management
Platform), and the deployment of modular digital solutions for the
credit market are just some of the strengths that will enable the
Group to make a success of its "Linedata 2018" corporate
project.
Next
communication: Revenues for 1st quarter
2018, on 26th April, 2018,
after close of trading.
With 20 years' experience and 700+
clients in 50 countries, Linedata's 1,300 employees in 20 offices
provide global humanized technology solutions and services for the
asset management and credit industries. Linedata supports corporate
development and boosts its clients' growth.
Linedata's 2017 revenue was €179.0 million. Linedata is listed
on Euronext Paris compartment B FR0004156297-LIN - Reuters LDSV.PA
- Bloomberg LIN:FP.
linedata.com
Linedata
Finance Department
+33 (0)1 73 43 70 27
infofinances@linedata.com
|
Cap Value
Financial Communications
Gilles Broquelet
+33 (0)1 80 81 50 00
info@capvalue.fr
www.capvalue.fr |
LINEDATA SERVICES: 2017 annual
results
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: LINEDATA SERVICES via Globenewswire
Linedata Services (EU:LIN)
Graphique Historique de l'Action
De Mar 2024 à Avr 2024
Linedata Services (EU:LIN)
Graphique Historique de l'Action
De Avr 2023 à Avr 2024