|€m - IFRS||Q1 2015||Q1 2016||Change||Change at constant exchange rates|
|Lending & Leasing||13.8||13.8||-0.2%||+0.4%|
Rounded, unaudited figures
Neuilly-sur-Seine, 21 April 2016: Linedata (LIN:FP), the global solutions provider to the investment management and lending and leasing industries, recorded revenues of €40.2m in the first quarter of 2016, up 0.6% compared with the first quarter of 2015. At constant exchange rates, business is up 0.7% and confirms the return of the Group to organic growth
Recurring revenues, which represent 75% of revenues, came to €30.2 million, up €0.3 million compared with the first quarter of 2015.
On 31 March 2016, order intake had fallen by 22% to €12.2m, compared to €15.6m for the same period in 2015. The fall can largely be explained by a drop in bookings in the Lending & Leasing segment in the United States.
Performance analysis by segment:
Asset Management (Q1: €24.8m, +2.7%)
This business line continues the positive trend that began in 2015. Despite its sensitivity to fluctuations in financial markets, Asset Management maintains its positive momentum, especially in Asia and Northern Europe.
The Front and Middle Office business segments were both up by 4.8% while the Back Office business remained stable over the first quarter of 2015.
Lending & Leasing (Q1: €13.8m, -0.2%)
In a relatively cautious market, revenues were more or less stable. Since the start of the year, growth in Europe (+16.3% for the first quarter 2016) has helped offset the 21.1% fall in revenues for the quarter in North America that resulted mainly from project delays for Linedata Capitalstream.
Other activities (Q1: €1.7m, -18.2%)
Revenues from Insurance, which accounts for nearly all revenues in this segment, was stable at €1.5m for the first quarter of 2016. Employee Savings, following a partial divestment in January 2015, only accounted for €0.2m over the quarter, compared to €0.5m for the same period in 2015.
Following the early April acquisition of Derivation, a risk and portfolio management specialist, Linedata should benefit from an additional contribution to revenues in Asset Management beginning in the second quarter.
Nonetheless, the Group remains cautious in its forecasts for 2016 due to the low level of new orders during the first quarter.
Next communication: Publication of revenues for the 2 nd quarter 2016, on 21 July 2016, after close of trading.
Linedata is a global solutions provider dedicated to the investment management and credit communities, with close to 1000 employees in 16 offices across the globe. Linedata has been at the service of the financial industry from day one, and applies its market and client insight to provide innovative and flexible mission-critical software and services that help its clients grow in over 50 countries. Headquartered in France, Linedata achieved revenues of €172.3 million in 2015. This company is listed on Euronext Paris compartment B FR0004156297-LIN - Reuters LDSV.LN - Bloomberg LIN:FP.
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