Slide 1: Financial Results 2015 Investors Presentation
FINANCIAL RESULTS 2015 INVESTORS PRESENTATION FEBRUARY 2016
Slide 2: A global solutions provider for Investment Management and Credit community
A GLOBAL SOLUTIONS PROVIDER dedicated to the Investment Management and the Credit community 2015 Around Revenue 68% 1000 €172m of revenue employees outside France 4 regions dedicated to 650 clients Presence in 50 countries 16 locations around the globe AN INTERNATIONAL COMPANY COPYRIGHT AND SOLE PRO
Slide 3: Asset Management
ASSET MANAGEMENT A favorable market environment REVENUE (€m) +17,6% ► AUM at growth 101,6 86,4 ► Positive impact of foreign currencies (+€11,6 M in 2015) A booming sales activity except in the USA 2014 2015 ► Nice signatures in Europe for Longview and Linedata BOOKING (€m) Compliance 18,5 18,6 ► HF
Slide 4: Lending & Leasing
LENDING & LEASING Good trend on the markets REVENUE (m€) +1,9% ► All markets at growth including europe 61,0 62,1 ► Growing interest for new technologies Increased revenue in H2 ► Numerous migration projects with Ekip360 2014 2015 ► New markets in Latin America and Africa BOOKING (€m) +20% ► Stronge
Slide 5: Other Activities
OTHER ACTIVITIES REVENUE (€m) +3,8% Insurance 7,7 7,4 ► Exceptional revenue of €0,8m 2014 2015 REVENUE (€m) Enterprise savings -71,7% ► Negative impact of Linedata NOEE 3,3 0,9 2014 2015 COPYRIGHT AND SOLE PROPERTY OF LINEDATA 5
Slide 6: Key Numbers
KEY NUMBERS In €m REVENUE EBITDA EBIT NET R E S U LT 172,3 +9,1% 158,0 48,6 +16,7% 41,6 38,0 +39,2% 27,3 26,1 +60,8% 28,2 % 16,2 26,3 % 22,0 % 17,3 % 15,1 % 10,3 % 2014 2015 2014 2015 2014 2015 2014 2015 COPYRIGHT AND SOLE PROPERTY OF LINEDATA 6
Slide 7: Rates of Exchange
RATES OF EXCHANGE 2015 / 2014 ($ / £) 2014 2015 Variation $ Average (P&L) 1,329 1,110 -19,8% Closing (BS) 1,214 1,089 -11,5% £ Average (P&L) 0,806 0,726 -11,1% Closing (BS) 0,779 0,734 -6,1% COPYRIGHT AND SOLE PROPERTY OF LINEDATA 7
Slide 8: Revenue by Market Segments
REVENUE BY MARKET SEGMENTS % at constant (€ millions – IFRS) 2014 2015 % change exchange rates Asset Management 86,4 101,6 +17,6% +4,2% Lending & Leasing 61,0 62,1 +1,9% -3,9% Other activities 10,7 8,6 -19,1% -19,1% Total 158,0 172,3 +9,1% -0,5% Rounded, audited data – COPYRIGHT AND SOLE PROPERTY OF
Slide 9: Strong Recurring Model
STRONG RECURRING MODEL 172,3 M€ 158,0 M€ 43,2 (25%) +12% Implementation, 38,8 (24%) Consulting & Services 7,1 (4%) -3% 7,3 (5%) Perpetual licences 35,5 (21%) 7,3 (5%) 32,5 (21%) +9% ASP/ Facilities Management 122,1M€ +6% 50,2 (29%) 112,0 M€ (71%) 47,3 (30%) Maintenance & (71%) Support 32,2 (20%) +13
Slide 10: EBITDA
EBITDA €M IFRS 2014 2015 Variation Revenue 158,0 172,3 +9,1% Purchases and external charges (33,2) (36,6) +10,3% Taxes (3,0) (3,2) +8,3% Staff expenses (78,6) (82,9) +5,4% Other expenses (1,6) (1,0) -3,0% EBITDA 41,6 48,6 +16,7% EBITDA % 26,3% 28,2% - COPYRIGHT AND SOLE PROPERTY OF LINEDATA 10
Slide 11: EBITDA Margin by Market Segment
EBITDA MARGIN BY MARKET SEGMENT % of revenue 2014 2015 Asset Management 24,3% 29,1% Lending & Leasing 29,8% 23,1% Other activities 23,3% 53,7% Total 26,3% 28,2% COPYRIGHT AND SOLE PROPERTY OF LINEDATA 11
Slide 12: Income Statement
INCOME STATEMENT % at constant €M IFRS 2014 2015 Variation exchange rates Revenue 158,0 172,3 +9,1% -0,5% EBITDA 41,6 48,6 +16,7% +6,6% EBITDA % 26,3% 28,2% EBIT 27,3 38,0 +39,2% +27,6% EBIT % 17,3% 22,0% Net Financial result 0,9 1,1 Income tax (12,0) (13,0) Net Result 16,2 26,1 +60,8% Net margin 10
Slide 13: Cash Flow Statement
CASH FLOW STATEMENT €M IFRS 2014 2015 Variation EBITDA 41,6 48,6 +16,7% Income tax (14,6) (10,3) Net financial result (1,6) (2,2) Other non cash 0,1 (1,5) Operating CF 25,5 34,6 +36,0% CAPEX (8,0) (5,7) Working Capital change (4,2) (4,7) Operating FCF 13,3 24,2 +82,7% Net debt change (14,3) 0,7 Divi
Slide 14: Cash Analysis
CASH ANALYSIS BANK EQUITY DEBT CHANGE DIVIDEND CHANGE +0,3 €m - 4,7 €m +0,7 €m NET DEBT CHANGE FCF OP. & EFF. EQUITY/DIVIDEND EXCHANE + 26,3 €m CASH 2015 +38,0 €m CASH OPERATING 2014 CASH FLOWS +15,3 €m NET FREE CASH FLOW 2015 = +22,7 €m COPYRIGHT AND SOLE PROPERTY OF LINEDATA 14
Slide 15: Balance Sheet
BALANCE SHEET ASSETS (€M) 2014 2015 LIABILITIES & EQUITY(€M) 2014 2015 Goodwill 122,9 129,8 Net Equity 101,6 129,0 Other fixed assets 37,8 34,3 Accrued tax 15,1 17,1 Prepaid tax 11,4 9,7 LT Liabilites 8,1 7,7 Current Assets 42,1 43,1 ST liabilities 48,6 45,0 Cash on hand 15,4 38,3 Bank debt 56,2 56,
Slide 16: Key Financial Indicators
KEY FINANCIAL INDICATORS EBIT Dividends Net profit per share per share 2015 : €0,65 2013 : 3,80 € Payout : 30% 2013 : 2,26 € 2016 : €1,40* 2014 : 5,10 € Payout : 39% 2014 : 3,50 € * Dividend of €1,40 to be proposed to GM in addition to an exceptional pay-out of €3,00 COPYRIGHT AND SOLE PROPERTY OF L
Slide 17: Stock Exchange
STOCK EXCHANGE Stock Price over 12 months Shareholders % LINEDATA MANAGEMENT * PUBLIC 45 54 SBF 120 1 51 SHARES TREASURY #stocks : 7 320 382 Stock price 26/04/2016: €38,86 Market cap 26/04/2016 : €284m * Of which 51,8% participates in a shareholder pact COPYRIGHT AND SOLE PROPERTY OF LINEDATA 17
Slide 18: Thank you for your attention
Thank you for your attention. Questions / Answers...