Linedata Services Sees Improved Earnings in H1 2024

Linedata Services has reported improved earnings for the first half of 2024. The company's revenue reached €89.7 million, marking a 2.5% increase from the first half of 2023. Net profit saw a notable rise of 24.4%, totaling €10.6 million, which is 11.8% of the revenue.

The rise in earnings was driven by strong growth in the Lending & Leasing business and improved margins in the Asset Management segment. EBITDA reached €22.0 million, accounting for 24.5% of revenue, which is a 3.8% increase from the previous year.

Linedata's operating costs rose by 6.0% to €46.3 million, partly due to restructuring costs and decreased capitalized R&D expenses. However, purchases and external costs decreased by 4.3%, benefiting from a better business mix in the Asset Management Software division in the US.

Net amortization and provisions decreased to €6.5 million, contributing to an operational income increase of 12.4%, reaching €15.4 million. The financial result improved slightly to -€1.4 million due to reduced average debt. Following a tax charge of €3.5 million, the net profit margin stood at 11.8%, a significant year-on-year improvement.

Linedata expects continued revenue growth and strong operating profitability in the second half of 2024. The next financial update is scheduled for October 23rd, 2024.