Neuilly-sur-Seine, 21 April 2022 – Linedata (Euronext Paris: LIN), the global solutions and outsourcing services provider to the investment management and credit finance industries, generated revenues of €40.1 million in the first quarter of 2022, up 5.9% from the first quarter of 2021. Adjusted for exchange rate movements, organic growth was 1.6%. The recurring share of this revenue in the first quarter of 2022 represented €31.8 million or 79% of total revenue, up €1.1 million from the same period in 2021. In the first three months of the year, orders grew sharply to €18.5 million, an increase of more than 20% from the first quarter of 2021.
Performance by segment:
ASSET MANAGEMENT (Q1: €27.3 million, +5.3%)
In the first quarter of 2022, the Asset Management Business Line posted sustained growth of 5.3%. Sales activity was buoyant with a growth in orders of more than 50% over the period, to €12.0 million, split equally between the two sub-segments, Software and Services. The Software business was virtually stable at €21.4 million, with mixed performances by market segment. Solutions for funds services recovered, with growth of 6.5%, driven by the strong performance of maintenance revenue. However, front office solutions were down 6.6% due to a one-off fall in consulting activities. The strong performance of the Services division continued, posting significant growth of 33.4% in quarterly revenue. In line with the trend seen in 2021, co-sourcing services enjoyed growing success with fund managers.
LENDING & LEASING (Q1: €12.8 million, +7.2%)
Revenue for the first quarter of 2022 was up significantly (+7.2%) from the same period in 2021. All regions performed strongly, in particular Latin America, where Linedata has recently opened a new office in Mexico.
Outlook
For the coming months, Linedata is confident that the upward trend seen at the start of the year will continue, on the back of high order intake and the market’s recognition of its new offerings.
Next communication: Revenue for the first six months of 2022 on 21 July 2022 after trading.