DJ Linedata Services: 2020 annual results show improvement: NET INCOME: +16.0%
Linedata Services
Linedata Services: 2020 annual results show improvement: NET INCOME: +16.0%
17-Feb-2021 / 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.
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2020 annual results show improvement:
NET INCOME: +16.0%
2019 2020 Change
REVENUE 169.7 161.0 -5.1%
EBITDA 46.6 48.4 +3.8%
% of revenue 27.5% 30.1%
OPERATING PROFIT 29.8 32.6 +9.6%
% of revenue 17.5% 20.3%
NET INCOME 17.5 20.3 +16.0%
% of revenue 10.3% 12.6%
Rounded, audited figures
Neuilly-sur-Seine, 17 February 2021 - Linedata (LIN:FP), provider of software and outsourcing services for asset managers, insurers and lending professionals, announces its annual results for 2020, up significantly thanks to the good performance of its new solutions.
The Group generated turnover of EUR161.0 million in 2020, down 5.1% compared with 2019. This decline is mainly due to the health crisis, which had an impact on the Group's non-recurring activities, such as consulting and the customization of its solutions. However, Linedata recorded its first sales in 2020 for its new Capitalstream 2020 and AMP platforms as well as new signatures for Ekip360.
While adapting its cost structure to lower revenues, Linedata has nevertheless maintained its strategic R&D investments in 2020 to prepare for its future.
EBITDA Margin Rate 2019 2020 Asset Management(*) 27.0% 29.5% Lending & Leasing 28.6% 31.4% Total 27.5% 30.1%
(*)The "Other" segment, comprising insurance and retirement savings, has been incorporated into AM.
Asset Management
The Asset Management segment reported a 3.2% fall in revenue, mainly in the area of Back-Office Software. In 2020 the first migrations of certain key accounts to the AMP platform were realised. EBITDA amounted to EUR32.3 million, that is 29.5%.
Lending & Leasing
Revenues of the Lending & Leasing division fell by 8.8% following delays in the implementation of certain projects and new contract signings due to the health crisis. The continued deployment of Linedata Ekip360 and the launch of Capitalstream 2020 were the highlights of 2020. EBITDA reached EUR16.1 million, that is 31.4%.
Result analysis
The Group's EBITDA amounted to EUR48.4 million, up 3.8%. This increase reflects both reductions in expenses related to the pandemic, such as travel freezes and event cancellations, and operational cost reductions, particularly in certain support functions.
Operating profit amounted to EUR32.6 million, up 9.5% compared to 2019. This reflects a decrease in depreciation and amortization of intangible assets of EUR 1.1 million.
Financial income amounted to -EUR5.3 million compared with -EUR2.8 million last year. It includes EUR2.6 million for adverse exchange rate effects in 2020.
After taking into account tax of EUR7.1 million, down EUR2.4 million compared with 2019, following the implementation of two tax mechanisms in France (IP Box and CIR), the net result amounted to EUR 20.3 million, that is a net margin of 12.6%.
Net earnings per share (EPS) amounted to EUR3.09 in 2019 compared with EUR2.69 in 2019.
Balance sheet analysis
Shareholders' equity increased by EUR2.9 million to EUR121.5 million.
Net debt excluding IFRS 16 rental liabilities fell to EUR67.1 million, representing 1.54 times the consolidated EBITDA for 2020.
Dividend
A dividend of EUR1.35 per share, the same as in 2019, will be proposed at the next General Meeting.
Outlook
In 2021, Linedata will accelerate the deployment of its new strategic plan supported by three key priorities: innovation, client care and partnerships, in order to return to sustainable growth over the next few years.
Next announcement: Turnover for the first quarter of 2020, as at 22 April 2021, after close of trading.
ABOUT LINEDATA
With 20 years of experience, 20 offices covering 50 countries around the world, 700 clients and 1,100 employees, Linedata combines technology and people to provide global solutions to asset management, insurance and lending professionals. Linedata supports corporate development and boosts its clients' growth.
Linedata generated turnover of EUR161.0 million in 2020. Linedata is listed on Euronext Paris compartment B FR0004156297-LIN - Reuters LDSV.PA - Bloomberg LIN:FP
linedata.com
Cap Value
Linedata
Financial communication
Finance Department
Gilles Broquelet
+33 (0)1 47 77 68 39
+33 (0)1 80 81 50 00
infofinances@linedata.com
info@capvalue.fr
www.capvalue.fr ----------------------------------------------------------------------------------------------------------------------- Regulatory filing PDF file File: PDF
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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: Inside information / Information on annual revenues
EQS News ID: 1169156
End of Announcement EQS News Service
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1169156 17-Feb-2021 CET/CEST
(END) Dow Jones Newswires
February 17, 2021 11:46 ET (16:46 GMT)
