Linedata Services (LIN) H1 2024 TU earnings summary

Executive summary

• H1 2024 revenue reached €89.7m, up 2.5% year-over-year, with organic growth at 2.1%.

• Recurring revenue increased by 4.1% to €70.8m, representing 79% of total revenue.

• Order intake surged 22.6% to €42.1m since the start of the year.

Financial highlights

• Asset Management segment revenue was stable at €59.5m, down 0.1% year-over-year.

• Lending & Leasing segment grew 8.1% to €30.2m, with recurring revenue at 82%.

• Software division in Asset Management rose 2.0% to €44.2m, driven by AMP platform migrations.

• Services division in Asset Management contracted 5.7% to €15.3m due to consulting contract delays.

Outlook and guidance

• Operating profitability for H1 2024 is expected to be close to the level reported in H1 2023.