Linedata Services Sa · EURONEXT:LIN

Linedata Services Sa — Investor Presentation (July 2015)

23 slides from Linedata Services Sa's investor presentation, July 2015

  1. Slide 1: Linedata Services: Financial Presentation

    DATE: July 2015 LINEDATA SERVICES : FINANCIAL PRESENTATION DENIS BLEY GROUP CFO

  2. Slide 2: A Global Solutions Provider for Investment Management and Credit

    A GLOBAL SOLUTIONS PROVIDER dedicated to the Investment Management and the Credit community 2014 Around Revenue 60% 1000 employees €158m of revenue outside France 4 regions dedicated to 600 clients Presence in 50 countries 15 locations around the globe AN INTERNATIONAL COMPANY COPYRIGHT AND SOLE PRO

  3. Slide 3: 2014 at a Glance

    2014 AT A GLANCE Revenue slightly down Booking below expectations Better EBITDA COPYRIGHT AND SOLE PROPERTY OF LINEDATA 3

  4. Slide 4: Asset Management

    ASSET MANAGEMENT Positive trend in Hedge Funds booking ─ Successful launch of Linedata Global Hedge REVENUE (€m) ─ Numerous deals signed in Asia +1,1% Back-Office in recovery mode ─ Good performance of Linedata Icon in the UK ─ Promising outlooks for Linedata Optima 86,4 85,4 Lost momentum in Front-

  5. Slide 5: Lending & Leasing

    LENDING & LEASING CapitalStream contributed full year to L&L CHIFFRE D’AFFAIRES (M€) ─ €5m positive impact on consolidated revenue ─ Lancement of Linedata CapitalStream 100% digital +8,6 % version 61,0 56,1 Activity negatively impacted by delayed projects Linedata Ekip360 ready to be launched ─ A br

  6. Slide 6: Insurance & Savings

    INSURANCE & SAVINGS REVENUE (M€) Insurance Insurance ─ Back on track for revenue growth on installed base ─ New version of Linedata Master I 7,4 6,5 + 12,8% 2013 2014 Savings ─ Negative impact of 2013 client loss for Linedata Savings NOEE 12,2 - 73,2% 3,3 2013 2014 COPYRIGHT AND SOLE PROPERTY OF LIN

  7. Slide 7: New Client References

    NEW CLIENT REFERENCES 28 new signatures COPYRIGHT AND SOLE PROPERTY OF LINEDATA 7

  8. Slide 8: Key Numbers

    KEY NUMBERS REVENUE EBITDA - 1,4% €160,3 M €158,0 M + 0,8 % €41,3 M €41,6 M 25,8 % 26,3 % 2013 2014 2013 2014 EBIT NET RESULT - 9,9 % - 8,4 % €30,3 M €17,7 M €27,3 M €16,2 M 18,9 % 17,3 % 11,0 % 10,3 % 2013 2014 2013 2014 COPYRIGHT AND SOLE PROPERTY OF LINEDATA

  9. Slide 9: Rates of Exchange

    RATES OF EXCHANGE 2014 / 2013 (£ / $) 2013 2014 Variation $ Average (P&L) 1,328 1,329 +0,1% Closing (BS) 1,379 1,214 -13,6% £ Average (P&L) 0,849 0,806 -5,3% Closing (BS) 0,834 0,779 -7,0% COPYRIGHT AND SOLE PROPERTY OF LINEDATA 9

  10. Slide 10: Revenue by Market Segments

    REVENUE BY MARKET SEGMENTS % at constant exchange rates and on a like-for- (€ millions – IFRS) 2013 2014 % change like basis Asset Management 85,4 86,4 +1,1% -0,2% Lending & Leasing 56,1 61,0 +8,6% -0,2% Other activities 18,8 10,6 -43,1% -43,1% Total 160,3 158,0 -1,4% -5,3% Rounded, audited data – I

  11. Slide 11: Strong Recurring Model

    STRONG RECURRING MODEL €160,3 M €158,0 M Implementation, 41,1 (26%) -6% 38,7 (24%) Consulting & Services Perpetual licences 10,0 (6%) -27% 7,3 (5%) ASP/ Facilities 32,5 (21%) 35,4 (22%) -8% Management €109,1 M €112,0M Maintenance & (68%) (71%) 42,5 (27%) +11% 47,3 (30%) Support Term licences 31,2 (1

  12. Slide 12: EBITDA

    EBITDA €M IFRS 2013 2014 Variation Revenue 160,3 158,0 -1,4% Purchases and external charges (36,0) (33,2) -7,9% Taxes (3,3) (3,0) -11,1% Staff expenses (79,2) (78,6) -0,8% Other expenses (0,5) (1,6) EBITDA 41,3 41,6 +0,8% EBITDA % 25,8% 26,3% - COPYRIGHT AND SOLE PROPERTY OF LINEDATA 12

  13. Slide 13: EBITDA Margin by Market Segment

    EBITDA MARGIN BY MARKET SEGMENT % of revenue 2013 2014 Asset Management 24,6% 24,3% Lending & Leasing 30,0% 29,8% Other activities 18,4% 23,3% Total 25,8% 26,3% COPYRIGHT AND SOLE PROPERTY OF LINEDATA 13

  14. Slide 14: Income Statement

    INCOME STATEMENT % at constant exchange rates and on €M IFRS 2013 2014 Variation a like-for-like basis * Revenue 160,3 158,0 -1,4% -5,3% EBITDA 41,3 41,6 +0,8% -0,6% EBITDA % 25,8% 26,3% EBIT 30,3 27,3 -9,9% -9,6% EBIT % 18,9% 17,3% Net Financial result (3,8) 0,9 Income tax (8,8) (12,0) Net Result 1

  15. Slide 15: From EBITDA to EBIT

    FROM EBITDA TO EBIT DEPREC. EXPENSE -€10,6 M BAD DEBT REV. GOODWILL + €0,4 M DEPRECIATION - €4,2 M EBITDA 2014 €41,6 M EBIT 2014 €27,3 M COPYRIGHT AND SOLE PROPERTY OF LINEDATA 15

  16. Slide 16: Cash Flow Statement

    CASH FLOW STATEMENT Var. €M IFRS 2013 2014 2013 2014 EBITDA 41,3 41,6 +0,8% Income tax (3,9) (14,6) Net financial result (1,9) (1,6) Other non cash (1,1) 0,1 Operating CF 34,4 25,5 -26,0% CAPEX (36,9)* (8,0) Working Capital change (0,1) (4,2) Operating FCF (2,6) 13,3 n.s. Net debt change 20,5 (14,3)

  17. Slide 17: Cash Analysis

    CASH ANALYSIS FCF OP. BANK & EFF. DEBT EXCHANGE CHANGE + €14,8 M & OTHERS - €14,3 M SHARES BUYBACK - €9,8 M OPERATING NET DEBT CASH FLOWS CHANGE DIVIDEND CASH - €4,6 M 2013 +€29,3 M FLUX LIES AU CAPITAL CASH 2014 +€15,4 M FREE CASH FLOW NETS 2014 = -€13,9 M COPYRIGHT AND SOLE PROPERTY OF LINEDATA 17

  18. Slide 18: Balance Sheet

    BALANCE SHEET ASSETS (€M) 2013 2014 LIABILITIES & EQUITY(€M) 2013 2014 Goodwill 119,7 122,9 Net Equity 93,3 101,6 Other fixed assets 37,7 37,8 Accrued tax 12,3 15,1 Prepaid tax 6,1 11,4 LT Liabilites 6,4 8,1 Current Assets 38,2 42,1 ST liabilities 48,8 48,6 Cash on hand 29,3 15,4 Bank debt 70,2 56,2

  19. Slide 19: Key Financial Indicators

    KEY FINANCIAL INDICATORS EBIT Dividends Net profit per share per share 2013 : €0,65 2013 : 4,02 € Payout : 29% 2013 : 2,35 € 2014 : €0,65 2014 : 3,80 € Payout : 30% 2014 : 2,26 € COPYRIGHT AND SOLE PROPERTY OF LINEDATA 19

  20. Slide 20: Stock Exchange

    STOCK EXCHANGE Stock Price over 12 months Shareholders % TREASURY SHARES 3 MANAGEMENT 51 46 PUBLIC 51 #s of shares : 7 359 025 Market price 28€ Market Cap : ca. €200 m COPYRIGHT AND SOLE PROPERTY OF LINEDATA 20

  21. Slide 21: 2015 Objectives

    2015 OBJECTIVES Accelerate R&D to strengthen the front to back solution offering In Asset Management Migrate the installed base on Ekip360 and be successful in the cross selling iniatiatives of Lending & Leasing products Take advantage of the findings from the client satisfaction survey and leverage

  22. Slide 22: H1 2015

    H1 2015 Recorded revenues of €83.3m for the first half of 2015, up 9.0% compared with the first half of 2014. At constant exchange rates, revenues fell 2.8%. comparable Recover organic growth over the second semester Remain cost focus as business is more and more price sensitive COPYRIGHT AND SOLE P

  23. Slide 23: Thank you for your attention

    Thank you for your attention. Questions / Answers...

Linedata Services — Investor Presentation (July 2015) on 6ix