Linedata Services (LIN) Q3 2024 TU earnings summary

Executive summary

• Nine-month 2024 revenue reached €134.6m, up 2.0% year-over-year; organic growth at constant rates was 1.5%.

• Recurring revenue represented 77% of total, amounting to €103.4m, up €1.7m from the prior year.

• Bookings for the first nine months totaled €57.0m, a 13.4% increase, mainly from Lending & Leasing.

Financial highlights

• Asset Management segment revenue grew 1.0% to €90.9m; Lending & Leasing rose 3.9% to €43.7m.

• Q3 2024 Asset Management revenue up 3.2%, aided by rights transfer for a Back Office application.

• Lending & Leasing Q3 revenue declined 4.4% sequentially, after strong growth in Q1 and Q2.

Outlook and guidance

• Full-year 2024 organic growth expected to be in line with the trend seen so far this year.