Linedata Services Sa · EURONEXT:LIN
Linedata Services Sa — FY2016 Earnings Presentation
21 slides from Linedata Services Sa's earnings presentation, April 2017
Slide 1: 2016 Annual Results
2016 ANNUAL RESULTS Investor Presentation – April 2017
Slide 2: Table of Contents
TABLE OF CONTENTS - Highlights - 2016 annual results 2 Investor Presentation February 2017
Slide 3: Highlights
HIGHLIGHTS 3 Investor Presentation February 2017
Slide 4: 20 Business Locations Worldwide Since Gravitas and Derivation Acquisitions
20 BUSINESS LOCATIONS WORLDWIDE SINCE GRAVITAS AND DERIVATION ACQUISITIONS Edimburg Riga Oxford Seattle London Toronto Dublin Luxemburg Chicago Boston Paris Greenwich Madrid New York Tunis Casablanca Ahmedabad Hong Kong Mumbai Chennai 1 250 More than 20 employees 700 clients locations 4 Investor Pre
Slide 5: A Mixed Year
A MIXED YAR Activity Innovation R&D efforts Decline in revenues strenghtened to in H2 Profitability support Linedata 2018 Acquisitions company project EBITDA at its highest Derivation April 2016 level Gravitas January 2017 5 Investor Presentation February 2017
Slide 6: 22 New Clients – NPS Score Improving
22 NEW CLIENTS – NPS SCORE IMPROVING 22 new signatures Client satisfaction representing €3,3m of revenue in 2016 NPS improving +15 points in 2015 +5 points in 2016 6 Investor Presentation February 2017
Slide 7: A New Head Office
A NEW HEAD OFFICE Linedata HQ will relocate to a bigger office building It will include a showroom and a digital lab to demo Linedata solutions to its clients and partners, A larger space will enable Linedata to hold in its new Head office, management venues, investors roadshows and stakeholders
Slide 8: Results 2016
RESULTS 2016 8 Investor Presentation February 2017
Slide 9: Key Numbers
KEY NUMBERS In €m REVENUE EBITDA EBIT NET R E S U LT 172,3 166,8 -3,2% 48,6 49,9 +2,7% 38,0 39,1 +3,0% 26,1 23,6 -9,6% 29,9 % 28,2 % 23,4 % 22,0 % 15,1 % 14,1 % 2015 2016 2015 2016 2015 2016 2015 2016 9 Investor Presentation February 2017
Slide 10: Rates of Exchange
RATES OF EXCHANGE 2014 / 2015 / 2016 ($/£) Variation 2014 2015 2016 2016/15 $ Average (P&L) 1,329 1,110 1,107 -0,3% Closing (BS) 1,214 1,089 1,054 -3,3% £ Average (P&L) 0,806 0,726 0,819 +11,3% Closing (BS) 0,779 0,734 0,856 +14,3% 10 Investor Presentation February 2017
Slide 11: Revenue by Market Segments
REVENUE BY MARKET SEGMENTS (€ millions – IFRS) 2016 Variation 2015 2016 Variation Like for like(*) Like for like(*) Asset Management 101,6 99,4 -2,2% 101,0 -0,5% Lending & Leasing 62,1 59,4 -4,3% 60,5 -2,6% Autres Activités 8,6 8,0 -7,7% 8,0 -7,7% Total 172,3 166,8 -3,2% 169,5 -1,6% (*) Exchange rat
Slide 12: Strong Recurring Model
STRONG RECURRING MODEL €172,3m €166,8m Implementation, 43,2 (25%) 39,7 (24%) Consulting & Services -8% Perpetual licences 7,1 (4%) -16% 5,9 (3%) ASP/ Facilities 35,5 (21%) 36,2 (22%) +2% Management Maintenance & 50,2 (29%) 50,1 (30%) €121,2m €122,1m 0% (73%) Support (71%) Subscription licences 36,4
Slide 13: EBITDA
EBITDA €M IFRS 2015 2016 Variation Revenue 172,3 166,8 -3,2% Purchases and external charges (36,6) (34,2) -6,7% Taxes (3,2) (2,9) -8,3% Staff expenses (82,9) (78,9) -4,8% Other expenses (1,0) (0,9) -13,8% EBITDA 48,6 49,9 +2,7% EBITDA % 28,2% 29,9% - 13 Investor Presentation February 2017
Slide 14: EBITDA Margin by Market Segment
EBITDA MARGIN BY MARKET SEGMENT In €m / % of revenue 2015 2016 Asset Management 29,6 29,1% 30,3 30,5% Lending & Leasing 14,4 23,1% 14,9 25,1% Other activities 4,6 53,7% 4,7 58,4% Total 48,6 28,2% 49,9 29,9% Asset Management : Higher % of offshore staff in direct and R&D costs Lending & Leasing : Cos
Slide 15: Full P&L
FULL P&L Variation Like for €M IFRS 2015 2016 Variation like(*) Revenue 172,3 166,8 -3,2% -1,6% EBITDA 48,6 49,9 +2,7% +5,5% EBITDA % 28,2% 29,9% EBIT 38,0 39,1 +3,0% +7,4% EBIT % 22,0% 23,4% Net Financial result 1,1 (3,2) Income tax (13,0) (12,3) -5,1% Net Result 26,1 23,6 -9,6% Net margin 15,1% 14
Slide 16: Net Financial Result
NET FINANCIAL RESULT TOTAL +1,1 M€ INTEREST CHARGE NET GAIN -2,1 M€ ON 2015 EXHANGE +4,7 M€ OTHER FINANCIAL Unfavorable base effect of foreign COSTS -1,5 M€ exchanges Interest charge down INTEREST CHARGE -1,9 M€ TOTAL -3,2 M€ 2016 OTHER FINANCIAL NET GAIN ON COSTS EXHANGE -1,4 M€ +0,1 M€ 16 Inve
Slide 17: Cash Flow Statement
CASH FLOW STATEMENT Var. 2016 In €m IFRS 2015 2016 /2015 EBITDA 48,6 49,9 +2,7% Income tax (10,3) (11,6) Net financial result (2,2) (1,9) Other non cash (1,5) (1,0) Operating CF 34,6 35,4 +2,1% CAPEX (5,7) (10,3) Working Capital change (4,7) 0,4 Operating FCF 24,2 25,5 +5,1% Net debt change 0,7 2,3
Slide 18: Bilan
BILAN ASSETS (€m) 2015 2016 LIABILITIES & EQUITY(€m) 2015 2016 Goodwill 129,8 130,2 Net Equity 129,0 114,9 Other fixed assets 34,3 46,0 Accrued tax 17,1 19,5 Prepaid tax 9,7 10,3 LT Liabilites 7,7 9,0 Current Assets 43,1 43,9 ST liabilities 45,0 47,3 Cash on hand 38,3 32,2 Bank debt 56,4 71,9 TOTAL
Slide 19: Key Financial Indicators
KEY FINANCIAL INDICATORS Net earning Dividend EBIT per share per share per share 2015 : 5,10 € 2015 : 3,50 € 2015 : 1,40 € 2016 : 5,42 € 2016 : 3,27 € 2016 : 1,50 € 19 Investor Presentation February 2017
Slide 20: Stock Exchange
STOCK EXCHANGE Linedata stock price over 12 months Equity table in % MANAGEMENT & EMPLOYEES LINEDATA PUBLIC 44 54 SBF 120 2 TREASURY SHARES #s of shares : 7 341 382 Share price as of 24/04/2017 : €46,45 Market cap as of 24/04/2017 : €341m 20 Investor Presentation February 2017
Slide 21: Thank you for your attention.
Thank you for your attention. Questions / Answers... Contacts Linedata Services : CFO- + 33 1 73 43 70 27 - infofinances@linedata.com