Linedata Services (LIN) H1 2024 earnings summary

Executive summary

• Revenue for H1 2024 reached €89.7M, up 2.5% year-over-year, driven by Lending & Leasing growth and improved Asset Management margins.

• Recurring revenue accounted for 79% of total, rising to €70.8M.

• EBITDA increased by 3.8% to €22M (margin 24.5%), and operating income rose to €15.4M (margin 17.2%).

• Net income was €10.6M, with a net margin of 11.8%, and EPS at €2.13.

• The company acquired DreamQuark to strengthen its AI offering.

Financial highlights

• Revenue: €89.7M (+2.5% YoY); recurring revenue: €70.8M (+2.5M YoY).

• EBITDA: €22M (+3.8% YoY, margin 24.5%).

• EBIT grew 12.4% to €15.4M, margin 17.2%.

• Net income: €10.6M (margin 11.8%).

• Net financial result improved to -€1.4M.

Outlook and guidance

• Organic growth and improved operational profitability expected for the remainder of 2024.

• No new significant risks identified beyond those in the 2023 universal registration document.