2012-02-14 17:49:26 -
Like-for-like change at constant exchange
€ million - IFRS 2010 2011 Change rates*
1(st) quarter 34.2 31.7 -7.5% -8.4%
2(nd) quarter 35.5 32.3 -9.2% -5.2%
3(rd) quarter 33.4 34.8 +4.3%
+2.2%
4(th) quarter 33.1 39.0 +18.1% +12.0%
Total 136.2 137.8 +1.2% 0.0%
Rounded, unaudited figures
*Includes the company Fimasys from the third quarter of 2011
Neuilly-sur-Seine, 14 February 2012: Linedata (LIN: FP), the global solutions
provider for the investment management and credit finance industries, posted
revenue of €39.0 million for the fourth quarter of its 2011 financial year, up
18.1% compared to the fourth quarter of 2010, representing a like-for-like
increase of 12.0% at constant exchange rates.
This significant recovery in activity in the second half of the year, combined
with the acquisition of Fimasys, enabled Linedata to record revenue of €137.8m
for the full year, up 1.2% compared to 2010. The recurring component of this
represents 71% of revenue, compared to 73% in 2010.
New bookings in 2011 reached €47.1m (€49.2m including Fimasys), up €12.2m
compared to the previous year. This increase was mostly driven by front-office
products in the United States and back-office products in Northern Europe.
Performance breakdown by geographical area:
Like-for-like change at constant exchange
€ million - IFRS 2010 2011 Change rates*
Southern Europe 65.5 67.9 +3.6% -2.5%
Northern Europe 27.4 27.2 -0.9% 0.0%
North America 40.1 39.7 -0.9% +3.9%
Asia 3.2 3.0 -4.1% +0.8%
Total 136.2 137.8 +1.2% 0.0%
Rounded, unaudited figures
*Includes the company Fimasys from the third quarter of 2011
SOUTHERN EUROPE (Q1: €15.2m, -15.4%; Q2: €16.1m, -11.9%; Q3: €16.6m, +17.5%; Q4:
€20.0m, +31.6%)
In Southern Europe, revenue grew by 3.6% compared to 2010 thanks to the good
performance of the Credit Finance business and the contribution of Fimasys in
the second half of the year. On a like-for-like basis, annual revenue dropped
slightly, by 2.5%.
Sales activity in the second half of the year was dynamic with the signing of
over €15m of new business.
NORTHERN EUROPE (Q1: €6.9m, +0.3%; Q2: €6.2m, -4.0%; Q3: €8.0m, -3.9%; Q4:
€6.1m, +5.6%)
Northern Europe recorded a small decrease of 0.9% at actual exchange rates, but
was stable at constant exchange rates compared to 2010, due in particular to the
development of the ASP model.
NORTH AMERICA (Q1: €8.7m, +2.8%; Q2: €9.4m, -6.4%; Q3: €9.4m, -5.4%; Q4: €12.3m,
+4.8%)
In North America, at constant exchange rates, revenue grew by 3.9% but decreased
slightly, by 0.9%, at actual exchange rates, due in particular to the
unfavourable euro/dollar parity. The region benefited from a recovery in
consulting activity with the implementation of newly signed projects.
ASIA (Q1: €0.9m, -6.4%; Q2: €0.6m, -23.9%; Q3: €0.9m, -16.7%; Q4: €0.7m, +78.0%)
In Asia, 2011 revenue decreased by 4.1% compared to 2010, but increased by 0.8%
at constant exchange rates. In the final quarter of 2011, Linedata recorded a
78% rise in revenue compared to the 4(th) quarter of 2010. This performance at
the end of 2011 validates the investments made in this region by Linedata since
the beginning of the year.
Outlook:
A dynamic second half year should enable Linedata to improve its margins in
2011.
For 2012, the Group anticipates higher revenue due to its healthy order book and
the contribution of Fimasys for the full year.
Next communication: publication of 2011 annual results on 19 March 2012 after
close of trading.
ABOUT LINEDATA
Linedata is a global solutions provider with 700 clients operating in 50
countries. With more than 900 employees across the globe, Linedata is dedicated
to the investment management and credit community. Linedata has been at the
service of the financial industry from day one, and applies its market and
client insight to provide innovative and tailored mission-critical software and
services that help its clients grow. As a pioneer for over 10 years with the set
up of SaaS infrastructure for the financial industry, Linedata has preached and
spread this model throughout the global financial community, for its full range
of products. Headquartered in France, Linedata achieved revenues of
EUR 137.8 million in 2011. This company is listed on Euronext Paris
FR0004156297-LIN - Reuters LDSV.LN - Bloomberg LIN:FP.
For further information, please contact:
Linedata Cap Value
Finance Department Financial communication
+33 (0)1 47 77 68 25 Gilles Broquelet / Samuel Beaupain
infofinances@linedata.com +33 (0)1 80 81 50 00
www.linedata.com
info@capvalue.fr
www.capvalue.fr
PR CA 2011:
hugin.info/143495/R/1585487/496448.pdf
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