Feb 13, 2023

02/13/2023 | 11:47am EST Message : 13-Feb-2023 / 17:45 CET/CEST The issuer is solely responsible for the content of this announcement. 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 €50m and net margin above 15%. The Group generated revenue of €172.7m 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. 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 €31.5m, or a margin of 26.8%. 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 €19.1m, or 34.7% of revenue. EBITDA stood at €50.7m, 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 €2.1m compared with the previous year. Operating profit amounted to €34.1m, down €4.3m, due in particular to an increase in capitalised R&D relative to the roll-out of new product platforms, especially AMP. Financial income totalled €1.3m versus €0.2m 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 €9.0m in taxes, net profit was €26.5m, representing a net margin of 15.3%. Earnings per share (EPS) stood at €4.30 in 2022 vs. €4.42 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 €5.33. In 2022, the share capital was reduced following the share buyback operation implemented at the end of the year. The share capital totalled €99.0m on 31 December 2022 vs. €145.8m at the end of the previous year. Net debt* remained well-controlled. It stood at €89.1m, or 1.9x 2022 EBITDA excluding the impact of IFRS 16.