PARIS, July 26 2001 (PRIMEZONE) -- LINEDATA (Paris Stock Exchange:LDSV)
Q2 2001 sales up 65% on Q2 2000
30 june 2001 30 june 2000 % growth
E million FF million E million FF million 2001/2000
Sales
Q1 16.43 107.80 10.37 68.00 58.4%
Q2 22.08 144.82 13.38 87.78 65.0%
H1 38.51 252.62 23.75 155.78 62.1%
BUSINESS AREAS BREAKDOWN OF SALES ON 30 JUNE 2001
E million FF million % of total
Asset Management 19.19 125.90 49.8
Employee Savings 8.81 57.78 22.9
Credit Finace 8.90 58.40 23.1
Other 1.61 10.54 4.2
Total 38.51 252.62 100
H1 2001 SALES RISE 62% TO E38.5 MILLION
Linedata Services' sales grew strongly in second-quarter 2001, rising 65% year-on-year to E22.1 million compared with E13.4 million for the same period in 2000.
First-half sales grew organically by 15.1% y-o-y on a same-structure basis (i.e. excluding the acquisitions of Pen Lan in April 2000, Ekip/Ingenetudes in July 2000 and Long View Group Inc. in March 2001).
STANDOUT INTERNATIONAL PERFORMANCE
Linedata Services achieved a stand-out marketplace performance with its applications and services at the international level in first-half 2001.
-- Asset Management: growth surges with the acquisition of Long View Spice, a compliance monitoring application, attracted four new clients in 2001 and is now used by the largest asset management firms in Luxembourg. This excellent performance was underscored by the success of Long View Group Inc., a US developer of front office and asset management applications, acquired by Linedata Services on 15 March 2001. In the first six months of 2001, three more international financial institutions chose the Longview 2000 application, joining the company's roster of 50 blue-chip clients. These achievements not only reflect the quality of Long View Inc.'s workforce and products; they also testify to the enthusiastic welcome given by its clients - both present and prospective - to the recent tie-up with Linedata Services.
-- Credit Finance: major contribution from the recently acquired Ekip/Ingenetudes. Acquired by Linedata Services in July 2000, Ekip/Ingenetudes continues to successfully market its products internationally. Its EKIP application, tailored to the different requirements of eight European countries, was selected by major credit companies in Germany, the UK and Morocco in first-half 2001. EKIP is already used by 50 firms specialised in equipment financing.
Ekip/Ingenetudes has been part of Linedata Services for 12 months and has confirmed its significant contribution to the group's growth.
-- Employee Savings: success of the Oryal application
One of the major highlights of first-half 2001 was the operational implementation ahead of schedule of the Oryal application, which will serve nearly one million employees managed by Societe Generale.
The recurring income streams generated by this successful migration, together with the initial impact of new legislation on pay-as-you-go schemes in the second-half-year, should make a highly positive contribution to this business line during 2001.
OUTLOOK
In the light of the 2001 interim figures and the excellent contributions from its latest acquisitions, Linedata Services remains confident in its full-year sales forecast of E77 million (FF505.1 million) in 2001. That projection will be reinforced by a full six-month contribution from Long View Group Inc. in the second half.
LINEDATA Services
Linedata Services is an Added-value Application Services Provider (AASP)and a leading European specialist in IT solutions for financial management. Our core competencies are asset management, credit finance, and employee savings.
As a software publisher, solutions integrator and operating services provider, Linedata Services has a full product offering for the finance industry. The company was floated on the Nouveau Marche - the growth-company market of the Paris Bourse - in May 2000.
Visit our website at www.linedata.com