|
|
2019 |
2020 |
Change |
|
ASSET MANAGEMENT(*) |
113.3 |
109.6 |
-3.2% |
|
LENDING & LEASING |
56.3 |
51.4 |
-8.8% |
|
TOTAL LINEDATA |
169.7 |
161.0 |
-5.1% |
Rounded and unaudited figures (€ m)
(*)The “Other” segment, made up of insurance and retirement savings, has been integrated into AM.
Neuilly-sur-Seine, 9 February 2021 - Linedata (LIN:FP) generated revenue of €161.0 million in 2020, down 5,1% compared with 2019 (-4.0% on a like-for-like basis).
As expected, activity picked up in Q4, generating revenue of €46.0 million, an increase of 2.6% (+6.6% on a like-for-like basis).
The recurring share of revenue in 2020 increased both as a percentage (79% in 2020 vs. 75% in 2019) and in absolute value (+€0.8 million). This growth confirms the sustainability of Linedata's business model, even in a difficult economic environment.
Order intake came in at €55.5 million, an increase of 7.8% compared with the previous period.
Performance analysis by segment:
Asset Management (Q1: €28.4m, +2.8%; Q2: €27.0m, -7.3%; Q3: €25.6m, -5.0%; Q4: €28.7m, -3.3%)
The Asset Management segment contracted by 3.2% in 2020.
Software sales came in at €92.7 million (-3.7%). The front office division benefited from initial migrations from the installed base onto the new AMP platform, with a significant increase in consulting revenue. In contrast, back office activity declined, due to a decrease in the number of customization projects by major clients.
Revenue from Services at €17.0 million was stable (-0.4%). Activity in Asia was negatively impacted in 2020 by both the instability in Hong Kong and the pandemic. Conversely, co-sourcing offers in the US in the middle office and risk management areas followed a very positive trend, with overall growth of nearly 5%.
Lending & Leasing (Q1: €11.9m, -4.2%; Q2: €11.2m, -28.4%; Q3: €11.1m, -16.2%; Q4: €17.3m, +14.1%)
Revenue for the segment was down 8.8% compared with 2019. After three quarters negatively impacted by a wait-and-see market, activity rebounded sharply in Q4 (+14.1%) with the signing of numerous contracts. These were with both existing clients for migrations onto Linedata’s new platforms and new clients, for Ekip360 in North America and Loansquare in France.
Outlook
Linedata will present its annual results to the financial community on February 18. The Group expects to see a slight increase in its operating profitability indicators in 2020.
Next announcement: 2020 Annual Results: February 17, 2021, after close of trading.