(AOF) – Linedata Services, publisher of global solutions and provider of outsourcing services for asset management, insurance and credit professionals, announced half-year results for 2022, in line with its expectations. The group achieved a net profit of 12.3 million euros, up 12.4%. EBITDA came to 22.7 million euros, up 0.4%.
Operating income came to 14.7 million euros, down 4.4% compared to the first half of 2021. It takes into account an increase in the amortization expense linked to capitalized R&D concerning new platforms.
Turnover amounted to 82.9 million euros, up 9.3%.
In terms of outlook, Linedata will “accelerate its commercial efforts and continue migration projects for its installed base with a view to confirming the return to organic growth recorded in the first half of 2022”.
The group will also announce its turnover for the third quarter of 2022, on October 20, after market.
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The lucrative database market
This mature global market is expected to generate more than $40 billion in revenue this year, compared to $22 billion in 2017, according to IDC. Contrary to its initial ambitions, SAP did not succeed in dethroning Oracle. This is mainly due to major developments in this market with the emergence of Amazon Web Services or Google Cloud. Benefiting from a significant competitive advantage as companies’ data hosts, these players have gained significant market share in recent years. However, faced with a growing corporate appetite for high value-added data, traditional players have a card to play.