Intertrust reports Q2 and H1 2019 results
August 01 2019 - 1:15AM
Amsterdam, the Netherlands – 1 August 2019 - Intertrust N.V.
(“Intertrust” or “Company”) [Euronext: INTER], a global leader in
providing tech-enabled corporate and fund solutions to clients
operating and investing in the international business environment,
today publishes its results for the second quarter and half year
ended 30 June 2019.
Q2 2019 Highlights
- Viteos acquisition completed on 17 June 2019. Integration
process started immediately.
- Revenue increased to EUR 128.2 million, an underlying growth of
3.5%, Viteos contributed EUR 1.7 million.
- Revenue increased 2.5% excluding Viteos.
- Adjusted EBITA amounted to EUR 46.8 million, up 1.7% on an
underlying basis.
- Adjusted EBITA margin of 36.5% (Q2 2018: 36.8%).
- Adjusted EPS increased to EUR 0.38 (Q2 2018: EUR 0.37).
H1 2019 Highlights
- Revenue of EUR 253.5 million, an underlying increase of 3.5%.
Revenue increased 2.3% excluding Viteos.
- Adjusted EBITA amounted to EUR 92.1 million, -0.7% on an
underlying basis.
- Adjusted EBITA margin of 36.3% (H1 2018: 37.2%) mainly due to
higher IT costs.
- Adjusted EPS increased to EUR 0.75 (H1 2018: EUR 0.74).
- Interim dividend of EUR 0.30 per share (H1 2018: EUR 0.30),
payment date 29 November 2019.
- Guidance for 2019 confirmed at 3 - 5% underlying revenue growth
excluding Viteos and an adjusted EBITA margin of at least 36%.
Analyst call / webcastToday,
Intertrust's CEO Stephanie Miller and CFO Hans Turkesteen will hold
an analyst/investor call at 10:00 CET. A webcast of the call will
be available on the Company's website. The webcast can be accessed
here. The supporting presentation can be downloaded from our
website.
Stephanie Miller, CEO of Intertrust,
commented:“The acquisition of Viteos is obviously the
biggest highlight of this reporting period. The acquisition is a
competitive game-changer for Intertrust and accelerates our
strategy to become a global leader in tech-enabled corporate and
fund solutions. We have initiated the integration process, are
continuing to add technological innovations to our service
offering, and leveraging Viteos’ offshore Centres of Excellence in
India, we have fast-tracked our standardisation,
centralisation and shared services initiatives. While combining the
two companies, we continue to focus on providing excellent client
service and delivering on our guidance.
"I am satisfied with the performance over the first half of the
year, in which we report modest growth. Based on our forecast for
the remainder of the year, I am confident that we will deliver on
our full year guidance. We continue to perform well in a
competitive market, with Funds being the highest growth driver and
Corporates reporting a strong second quarter. We continue to
execute on our strategic plans and, following demand from clients,
we opened a new office in Shenzhen, China, and expanded our global
footprint by opening an office in Paris, France, to provide
Corporate and Fund services. On the people side, Global Head of
Funds, Patrick O’Brien, and Chief Commercial Officer, Ian Lynch,
both came on board to lead our client-centric commercial strategy
and drive business growth."
- intertrust-q2-and-h1-2019-results-press-release.pdf