DJ Linedata Services: Full-year 2022 results Revenue growth: +7.8% Robust profitability - EBITDA: EUR50.7m
Linedata Services Linedata Services: Full-year 2022 results Revenue growth: +7.8% Robust profitability - EBITDA: EUR50.7m 13-Feb-2023 / 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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Full-year 2022 results
Revenue growth: +7.8%
Robust profitability - EBITDA: EUR50.7m
2021 2022 Change REVENUE 160.2 172.7 +7.8% EBITDA 52.8 50.7 -3.6pt % of revenue 32.9% 29.3% EBIT 38.4 34.1 -4.2pt % of revenue 24.0% 19.8% NET PROFIT 28.3 26.5 -2.4pt % of revenue 17.7% 15.3%
Rounded, audited figures
Neuilly-sur-Seine, 13 February 2023 - Linedata (LIN:FP), the global solutions and outsourcing services provider to the investment management and credit finance industries, announces full-year results in line with its guidance with organic revenue growth of almost 2% and robust profitability, with EBITDA of more than EUR50m and net margin above 15%.
The Group generated revenue of EUR172.7m in 2022, up 7.8% in reported terms, driven especially by momentum in the Asset Management Services businesses, a strong performance by the Lending & Leasing division and a favourable impact of the dollar exchange rate.
As announced, an active hiring policy started during 2022, with certain expenses that were suspended during the health crisis being resumed. EBITDA was therefore down slightly.
EBITDA margin 2021 2022 Asset Management 31.3% 26.8% Lending & Leasing 36.4% 34.7% Total 32.9% 29.3%
Asset Management
Asset Management benefited from robust momentum in the Services activity, which grew by 40.5% (25.2% in organic terms), and numerous customisation projects for Fund Services applications. EBITDA totalled EUR31.5m, or a margin of 26.8%.
Lending & Leasing
Lending & Leasing also grew, by 5.2% (+2.5% like-for-like), driven by further client migration to the two Linedata Ekip360 and Linedata Capitalstream solutions. EBITDA stood at EUR19.1m, or 34.7% of revenue.
Analysis of results
EBITDA stood at EUR50.7m, or a 29.3% margin. Linedata strengthened its competitive salary increases and talent retention policy. Travel expenses were also higher. In addition, the company made greater use of outsourcing services to accompany high growth in the Services business. As such, EBITDA was down by EUR2.1m compared with the previous year.
Operating profit amounted to EUR34.1m, down EUR4.3m, due in particular to an increase in capitalised R&D relative to the roll-out of new product platforms, especially AMP.
Financial income totalled EUR1.3m versus EUR0.2m a year earlier. The difference was mainly due to a lower cost of financial debt stemming from loan renegotiations and higher forex income.
After taking into account EUR9.0m in taxes, net profit was EUR26.5m, representing a net margin of 15.3%.
Earnings per share (EPS) stood at EUR4.30 in 2022 vs. EUR4.42 in 2021, with the share buyback operation taking place at the end of the year. Relative to ordinary shares in circulation at the end of the year, net profit per share would stand at EUR5.33.
Balance sheet analysis
In 2022, the share capital was reduced following the share buyback operation implemented at the end of the year. The share capital totalled EUR99.0m on 31 December 2022 vs. EUR145.8m at the end of the previous year.
Net debt* remained well-controlled. It stood at EUR89.1m, or 1.9x 2022 EBITDA excluding the impact of IFRS 16.
Dividend
A dividend of EUR1.75 is to be proposed at the next Annual General Meeting.
Outlook
Under the framework of its 2022-2024 plan, Linedata is continuing its strategy aimed at maintaining a sustainable organic growth trajectory while maintaining solid profitability.
Next communication: Q1 2023 revenue on 24 April 2023 after trading.
*excluding IFRS 16 lease liabilities but including the property lease portfolio
ABOUT LINEDATA
With 25 years' experience and 700+ clients in 50 countries, Linedata's 1100 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 172.7 million in 2022 and is listed on Euronext Paris compartment B FR0004156297-LIN - Reuters LDSV.PA - Bloomberg LIN:FP.
www.linedata.com
Linedata Cap Value
Finance Department Financial communication
+33 1 73 43 70 72 +33 1 80 81 50 00
infofinances@linedata.com info@capvalue.fr
www.capvalue.fr
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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 / News release on accounts, results
EQS News ID: 1558495
End of Announcement EQS News Service
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1558495 13-Feb-2023 CET/CEST
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(END) Dow Jones Newswires
February 13, 2023 11:45 ET (16:45 GMT)
