LINEDATA : 2012 : a year of growth

Thu Feb 28, 2013 11:46am EST

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Revenues: + 4.9%   Operating profit: + 8.7%

 EUR million - IFRS   2011    2012    Change  
 Revenues             137.3   144.0  + 4.9 %  
 EBITDA               32.0    33.9   + 6.1 %  
 % of revenues        23.3%   23.6%           
 Operating profit     23.8    25.9   + 8.7 %  
 % of revenues        17.3%   18.0%           
 Net profit           14.5    15.2   + 4.5 %  
 % of revenues        10.6%   10.6%           

Rounded and audited figures
EBITDA is the Group's key indicator. It is defined as operating profit before net amortisation,
depreciation and provision charges.

Neuilly-sur-Seine, 28 February 2013: Linedata (LIN: FP), the global solutions provider dedicated
to the investment management and credit community, again recorded profit growth in 2012.

Growth in business along with effective cost control means the Group's EBITDA rose by 6.1%. This
figure comes out at EUR33.9 million, i.e. 23.6% of revenues.

The successful integration of Fimasys, in particular bringing all staff together at the Arcueil
site and the initial synergies generated, resulted in a contribution of EUR8 million to
consolidated revenues for the full year. There was also an increase in the profitability of this
business, taking it up to a level close to Group average.

Analysis of EBITDA margin by region:

By region, EBITDA breaks down as follows:

 EBITDA Margin     2011   2012  
 Southern Europe  22.6%  23.3%  
 Northern Europe  23.3%  25.5%  
 North America    24.7%  23.7%  
 Asia             22.0%  10.2%  
 Total            23.3%  23.6%  

In Southern Europe, growth in EBIDTA margin, which includes the cost of integrating Fimasys, is
explained by good performance in the Credit Finance and Back Office businesses.

Northern Europe recorded a rise of 2.2 points in EBITDA margin thanks to effective cost management
and greater contribution of recurring revenues. 

In North America, EBITDA margin remained satisfactory. There was a slight fall due to greater
investment in R&D for the Linedata Longview product.   

The Group continued to invest in managerial staff in Asia, which led to a fall in EBITDA, though
this was not significant at Group level. 

Net profit on the rise

Operating profit came out at EUR25.9 million, showing an increase of 8.7% compared to 2011.
Operating margin was up 0.7 points to 18%.

Net profit, which took into account net financial expense of EUR1.9 million, came out at EUR15.2
million, up 4.5% compared to 2011.

Net profit per share increased by 25% to EUR1.70, compared to EUR1.36 in 2011, as a result both of
growth in net profit and of a reduction in capital after the share buyback offer.

Financial structure

Analysis of the Linedata balance sheet on 31 December 2012 must take into consideration the effect
of reduced capital after the share buyback offer which took place in June 2012. Shareholder equity
came out at EUR84.9 million, versus EUR118.3 million in 2011. Total financial debt came to EUR49.5
million, compared to EUR21.6 million in 2011. This most notably includes the outstanding balance
of the new senior debt facility required to finance the share buyback offer.
Including cash and cash equivalents worth EUR17.7 million on the balance sheet, net debt stood at
EUR31.8 million. This is less than 2012 EBITDA.


At the next General Meeting, shareholders will be offered a dividend of EUR0.55 per share, up 10%
on the previous financial year.


The recent acquisition of CapitalStream will help Linedata strengthen its position in North
America, and thus speed up its international expansion.

Over 2013, Linedata will pursue business development on its strategic markets, while maintaining
strong profitability. 
Next communication: publication of revenues for the 1st quarter 2013 on May 14, 2013 after closing
of trading.


Linedata is a global solutions provider with 700 clients operating in 50 countries. With more than
900 employees across the globe, Linedata is dedicated to the investment management and credit
community. Linedata has been at the service of the financial industry from day one, and applies
its market and client insight to provide innovative and tailored mission-critical software and
services that help its clients grow. As a pioneer for over 10 years with the set-up of SaaS
infrastructure for the financial industry, Linedata has preached and spread this model throughout
the global financial community, for its full range of products. Headquartered in France, Linedata
achieved revenues of EUR 144 million in 2012. This company is listed on Euronext Paris
FR0004156297-LIN - Reuters LDSV.LN - Bloomberg LIN:FP.

For further information, please contact:

 Linedata                                               Cap Value 
 Finance Department                       Financial communication 
 +33 (0)1 47 77 68 39          Gilles Broquelet / Samuel Beaupain                   +33 (0)1 80 81 50 00                       

PR RA 2012 


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