Linedata revenues hit €179m in 2017
Financial services software provider Linedata reported revenues of €179m (£156.5m) in 2017, up 7.3% from the previous year.
The growth in revenues was driven by increased demand from the asset management sector, offsetting a decrease in business for lending and leasing software.
Gross earnings were €43.5m, down 12.7%, while gross profits totalled €30.2m, down 22.8%.
Linedata said the decreases were the the result of unfavourable exchange rates as well as the one-off impact of “exceptional investment efforts” required in the integration of business acquired in the previous two years, which include Derivation in 2017 and Gravitas and QRMO in 2017.
In the lending and leasing segment, a 22.4% increase in bookings in the fourth quarter partially offset the previous months’ downturn in revenues. Linedata attributed the decreases to high level of revenues recognised in 2017 following clients’ migration to Linedata Ekip360, the company’s flagship software for lenders.
The company said: “Linedata is confirming its confidence in its continued growth in 2018.
“The synergies expected with Gravitas and QRMO, the ramping-up of the new Asset Management Platform, and the deployment of modular digital solutions for the credit market are just some of the strengths that will enable the Group to make a success of its ‘Linedata 2018’ corporate project.
“In the lending and Leasing segment, Linedata will benefit from the positive spin-offs of its new version of Linedata Capitalstream and the migrations of customers to Linedata Ekip360.”
