Linedata Services: Q1 2024 revenue: €43.9m (+3.3%)
Linedata Services
Linedata Services: Q1 2024 revenue: €43.9m (+3.3%)
23-Apr-2024 / 17:45 CET/CEST
Dissemination of a French Regulatory News, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
Q1 2024 revenue: €43.9m (+3.3%)
Q1 2023*
Q1 2024
Change
Change at constant exchange rates
ASSET MANAGEMENT
29.1
29.2
+0.4%
+0.4%
LENDING LEASING
13.4*
14.7
+9.7%
+9.8%
TOTAL LINEDATA
42.5*
43.9
+3.3%
+3.4%
*: of which Audaxys Q1 2023 €0.8m
Neuilly-sur-Seine, 23 April 2024 – Linedata (Euronext Paris: LIN), the global solutions and outsourcing services provider to the investment management and credit finance industries, generated revenue of €43.9m in the first quarter of 2024, up 3.3% versus the first quarter of 2023. Adjusted for the currency effect, organic growth came to 3.4%, up +0.5 basis points versus Q1 2023.
Recurring revenue came to €35.3m, an increase of €2.2m compared with the same period last year. Representing 81% of total revenue, recurring revenue is holding up well in both businesses, with a marked increase in Lending Leasing.
Commercial activity continued to grow, with an order intake of €20.7m, up 2.6% compared with Q1 2023, bolstered by the solid performance of the Lending Leasing business.
Performance by segment:
ASSET MANAGEMENT (Q1: €29.2m, +0.4%)
In Q1 2024, the Asset Management segment turned in a mixed performance, with Services still buoyant and Software down slightly.
Software revenue amounted to €21.0m, representing a one-off drop of 1.5% due to a temporary slowdown in Transfer Agency projects and lower sales of perpetual licenses. Conversely, front-office migration projects are continuing.
The Services division continued to perform well, thanks to the success of its co-sourcing offerings for fund managers. Q1 2024 revenue amounted to €8.2m, up 5.7% compared to last year's period.
LENDING LEASING (Q1: €14.7m, +9.8%)
The Lending Leasing business continued to advance in Q1 2024, taking into account the success of the Linedata Ekip and Linedata Capitalstream platforms and the increase in the recurring share of its revenue, which stood at 78% in Q1 2024 compared with 71% in Q1 2023. With migrations to new versions now complete for many customers, the segment benefits from an increase in periodic maintenance and support services.
Q1 2024 revenue thus came in at €14.7m, up 9.8% compared with the same period last year.
Outlook:
The Group is maintaining its objective of organic growth for 2024.
Next communication: first-half 2024 revenue on July 23 after trading.
ABOUT LINEDATA
With 25 years’ experience and 700+ clients in 50 countries, Linedata’s 1200 employees in 20 offices provide global humanized technology solutions and services for the asset management and credit industries that help its clients to evolve and to operate at the highest levels.
Headquartered in France, Linedata achieved revenues of EUR 183.3 million in 2023 and is listed on Euronext Paris compartment B FR0004156297-LIN – Reuters LDSV.PA – Bloomberg LIN:FP
www.linedata.com
Finance Department
+33 (0)1 73 43 70 28
infofinances@linedata.com
Cap Value
Financial communication
+33 (0)1 80 81 50 00
info@capvalue.fr
www.capvalue.fr
File: LINEDATA- CP CA T1 2024
Language: English Company: Linedata Services 27 rue d'Orléans 92 200 Neuilly-sur-Seine France Internet: www.linedata.com ISIN: FR0004156297 Euronext Ticker: LIN AMF Category: Additional regulated information to be pubicly disclosed under the legislation of a Member State / First quarter financial report EQS News ID: 1887303 End of Announcement EQS News Service
1887303 23-Apr-2024 CET/CEST