PARIS, Feb. 11, 2002 (PRIMEZONE) -- Linedata Services (Paris Stock Exchange:LDSV) reported full-year revenues of E79 million for 2001, an increase of 47.4% over 2000. This excellent performance is E2 million higher than the group's initial target, thanks mainly to LongView, a U.S. company acquired in March 2001, which had revenues of E11.7 million (compared with a projected E10.5 million) in nine-and-a-half months. On a like-for-like basis, growth was sustained across all three business lines at 15%, as expected.
EUR million Full-year 2000 Full-year 2001 Change Sales 53.6 79.0 +47.4%
At December 31, 2001, the Asset Management division accounted for 54% of total sales, Credit Finance 23% and Employee Savings 23%. More than 65% of sales are recurring and stem from Application Service Provider (ASP) type services.
Linedata Services entered a new phase of development in 2001 by more than tripling its international revenues. International business now accounts for 22% of total sales, compared with 9% in 2000.
2001 -- a strategic year for the group's future growth:
The year 2001 saw two key events that were entirely consistent with the group's strategy of pursuing European leadership in its three core business lines:
-- The successful integration of LongView confirms the group's capacity to integrate international companies with complementary products and a substantial installed base. Linedata Services further strengthened its positions in January 2002 by acquiring the IAS II software business of FMS in the United Kingdom. These acquisitions offer excellent opportunities for cross-selling to a global customer base.
-- New contracts with internationally renowned clients in the company's three areas of expertise. This commercial success can be attributed to Linedata Services' capacity to support major financial institutions in their international development. Sales are also boosted by growing demand from the financial sector for software solution leasing via ASP services.
Profit forecasts confirmed
Bolstered by sales growth, Linedata Services confirms its target of operating margin above 15% for 2001. The company will present its earnings figures for 2001 and forecasts for 2002 on March 27.
Linedata Services
Under the guidance of its chairman, Anvaraly Jiva, Linedata Services has become a key European player in the financial data processing market. As a software publisher, solutions integrator and operating services provider, Linedata Services has a full product offering for the finance industry.
For more information, visit www.linedata.com