Q3 2021 Highlights
- Reported revenue increased 1.6% y-o-y to
EUR 140.3 million . Underlying revenue growth was 0.6% due to lower productivity, mainly inthe Netherlands and Luxembourg. Underlying revenue growth excludingthe Netherlands and Luxembourg was 4.4% - Strong pipeline developments (+23.5% y-o-y) and deals won with
EUR 18.2 million in annual contract value (+27% y-o-y) - Adjusted EBITA of
EUR 39.6 million (Q3 2020:EUR 44.3 million ) including one-off costs ofEUR 4.8 million from remediation activities. Adjusted EBITA margin of 28.2%, normalised margin excluding one-off costs was 31.6% (Q3 2020: 32.1%), mainly reflecting the revenue impact - Remediation project progressing and committed to complete one-off activities by end 2022 and within budget
- Centre of Excellence synergy target of
EUR 20 million achieved ahead of schedule, while transformation continues. Confident to drive further savings and operational efficiencies which will lead to margin improvements going forward - Initiated
EUR 100 million share buyback programme
“We see a continued strong demand for the services we deliver and a significant untapped potential with our clients. I am disappointed with our revenue in
Our margin reflects lower revenue, as well as the one-off costs related to our file remediation efforts. We’re confident to finalise the remediation process within the targeted timeframe and budget. We’ve seen good progress on the Centre of Excellence migrations and this will lead to improvement of our margin profile over time.
We communicated previously, that we are considering all options to drive value for stakeholders. As part of this, we are including a review of our portfolio. We will provide an update of our progress at our Capital Markets Day on 23 November.”
Analyst call / webcast
Today,
Attachment
Intertrust Q3 2021 Results Press Release
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