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Intertrust reports Q3 2019 results

31 October 2019

Amsterdam, the Netherlands – 31 October 2019 – Intertrust N.V. (“Intertrust” or “Company”) [Euronext: INTER], a leading global provider of expert administrative services to clients operating and investing in the international business environment, today publishes its results for the third quarter and nine months ended 30 September 2019.

Q3 2019 Highlights

  • Revenue increased 4.8% underlying to EUR 140.3 million. Excluding Viteos, revenue increased by 4.4%.
  • Adjusted EBITA amounted to EUR 49.4 million, an increase of 7.6% (-2.5% underlying).
  • Adjusted EBITA margin decreased to 35.2% (Q3 2018: 37.7%) in line with expectations. The migration to our Centres of Excellence has started and will improve margins in the medium term, in line with earlier communication.
  • Adjusted EPS was EUR 0.38 (Q3 2018: EUR 0.39).

9M 2019 Highlights

  • Revenue increased 3.9% underlying to EUR 393.8 million. Excluding Viteos, revenue increased 3.0%.
  • Adjusted EBITA amounted to EUR 141.4 million, an increase of 4.1% (-1.3% underlying).
  • Adjusted EBITA margin of 35.9% (9M 2018: 37.4%). Full year 2019 guidance of at least 36% reiterated.
  • Adjusted EPS was EUR 1.13 (9M 2018: EUR 1.13).

Analyst call / webcast
Today, Intertrust’s CEO Stephanie Miller and CFO Rogier van Wijk will hold an analyst 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:
“I am pleased with the strong progress in executing our strategy and revenue growth of 4.8% underlying in the third quarter. The integration of Viteos is moving ahead at full speed. We are aligning our commercial and marketing strategies and we have already migrated certain support functions to our Centres of Excellence in India. For the remainder of this year, we continue to invest in our people, technology and client service to deliver on our ambitions in the medium term and become the global leader in tech-enabled corporate & fund solutions.”