DJ Linedata Services: 2024 annual results Revenue: EUR183.7m (+0.2%) EBITDA margin: 29.6% of revenue
Linedata Services
Linedata Services: 2024 annual results Revenue: EUR183.7m (+0.2%) EBITDA margin: 29.6% of revenue
13-Feb-2025 / 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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2024 annual results
Revenue: EUR183.7m (+0.2%)
EBITDA margin: 29.6% of revenue
2023 2024 Change
REVENUE 183.3 183.7 +0.2%
+1.8%
EBITDA 53.3 54.3
+0.5 pt
% of revenue 29.1% 29.6%
+5.4%
OPERATING INCOME 37.9% 39.9
+1.1 pt
% of revenue 20.7% 21.7%
+10.3%
NET INCOME 25.5 28.1
+1.4 pt
% of revenue 13.9% 15.3%
Rounded, audited figures
Neuilly-sur-Seine, February 13, 2025 - The Board of Directors of Linedata (LIN:FP), the global solutions and outsourcing services provider to the investment management and credit finance industries, closed the 2024 financial statements on February 11, 2025, which show an upturn.
Group revenue was stable in 2024, at EUR183.7m, after three years of growth, averaging around 4.5%.
Benefitting from a highly recurring business model and a product mix with a higher share of Software revenue, Linedata posted an EBITDA margin of 29.6% in 2024, up slightly from 2023.
EBITDA margin: 2023 2024 Asset Management 27.1% 28.3% Lending & Leasing 33.2% 31.9% Total 29.1% 29.6%
Asset Management
Revenue generated by the Asset Management segment amounted to EUR120.7m, down 1.2%, which can entirely be attributed to the Services division. EBITDA margin increased by 1.2 points to 28.3%, driven by a more favorable revenue mix and the transfer to a client of back-office software user rights.
Lending & Leasing
Revenue for the Lending & Leasing segment amounted to EUR63.0m in 2024, up 3.0%. The continued improvement in business activity over the past several years demonstrates the success of the front-to-back platforms developed by Linedata and sold to renowned players around the world. EBITDA reached EUR20.1m, delivering a strong 31.9% margin.
Results analysis
Group EBITDA totaled EUR54.3m, up 1.8%. Employee expenses, the main source of Linedata's operational costs, rose 2.5% to EUR87.3m. The increase reflects the growth in the average headcount over the period and the impact of salary increases, as well as one-off reorganization costs and a decline in capitalized R&D expenses. The increase in employee expenses was more than offset by the decrease in subcontracting after the contraction in the revenue of the Asset Management Services division.
Overall, EBITDA margin amounted to 29.6% of revenue, a 0.5-point increase compared with the previous fiscal year.
Operating income, at EUR39.9m, increased strongly, by 5.4%, owing largely to a reduction in amortization relative to capitalized R&D and the reversal of provisions.
Financial income came out at -EUR2.4m, compared with -EUR4.3m in the 2023 fiscal year, for a difference of +EUR1.9m. The improvement of this indicator can be attributed to a +EUR0.4m decline in the cost of net financial debt and to a +EUR1.2m net foreign exchange gains relating to the appreciation of the main currencies used by the Group.
Including a tax expense of EUR9.4m, net income improved by 10.3% to EUR28.1m, for a net margin of 15.3%.
Net earnings per share reached EUR5.69 in 2024, compared with EUR5.14 in 2023.
Balance sheet analysis
On December 31, 2024, equity stood at EUR138.4m, compared with EUR113.0m on December 31, 2023.
Cash available as of December 31, 2024 amounted to EUR38.5m. Net debt (*) reached EUR50.5m, reflecting a leverage ratio of 0.99x 2024 EBITDA (**), against 1.50x at December 31, 2023, illustrating the Group's continued rapid debt reduction.
Dividend
A dividend of EUR1.75 per share will be proposed at the next Annual General Meeting.
Outlook
Linedata expects the Asset Management Services division to return to growth in 2025, contributing favorably to consolidated revenue.
Next communication: Q1 2025 revenue, April 24, 2025, after trading.
(*) Excluding IFRS 16 lease liabilities but including the property lease portfolio.
(**) According to the definition specified in the senior debt contract. ABOUT LINEDATA
With 26 years of experience and 700+ clients in 50 countries, Linedata's 1,200 employees in 20 offices provide global humanized technology solutions and services for the asset management and credit industries, helping its clients evolve and operate at the highest levels. Headquartered in France, Linedata achieved revenues of EUR 183.7 million in 2024 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 (0)1 73 43 70 28 +33 (0)1 80 81 50 00
infofinances@linedata.com info@capvalue.fr
www.capvalue.fr
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Regulatory filing PDF file File: Communiqué de Presse_Résultat Annuel 2024 VF UK_LDS
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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: 2086031
End of Announcement EQS News Service
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2086031 13-Feb-2025 CET/CEST
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February 13, 2025 11:46 ET (16:46 GMT)
