Intertrust reports Q4 and FY 2019 results

Amsterdam, the Netherlands – 6 February 2020 – 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 international business, today publishes its results for the fourth quarter and full year ended 31 December 2019.

Q4 2019 Highlights

• Revenue increased 3.0% underlying to EUR 151.1 million.
• Adjusted EBITA amounted to EUR 55.5 million (+0.5% underlying).
• Adjusted EBITA margin of 36.7% (Q4 2018: 37.7%).
• Adjusted EPS increased to EUR 0.45 (Q4 2018: EUR 0.41).

FY 2019 Highlights

• Full year 2019 performance in line with guidance.
• Revenue increased 3.7% underlying to EUR 544.9 million. Revenue increased 3.0% excluding Viteos.
• Adjusted EBITA amounted to EUR 196.9 million (-0.8% underlying).
• Adjusted EBITA margin of 36.1% (FY 2018: 37.5%).
• Adjusted EPS increased to EUR 1.58 (FY 2018: EUR 1.54).
• Integration of Viteos largely completed and migration plan to Centre of Excellence on track.
• Proposed final dividend of EUR 0.33 per share, resulting in total dividend of EUR 0.63 (FY 2018: EUR 0.62).
• Guidance 2020 announced and medium term outlook reconfirmed.

Analyst call / webcast
Today, Intertrust’s CEO Stephanie Miller and CFO Rogier van Wijk 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:
“I am delighted to announce that Intertrust has delivered a full year result for 2019 in line with guidance for all key financial metrics. I am particularly proud that we have done so in the same year as we completed the game-changing acquisition of Viteos.

“We are delivering against the ambitions of our strategic plan: to provide clients with leading edge, tech-enabled services. Across all our regions and lines of business we are investing in people and technology to drive performance and growth. We continued to grow in Fund Services as well as in Capital Markets, evidenced by the Wells Fargo deal which strengthens our aviation finance business.

“Our people and clients are our core strategic objectives during 2020, when we will see the beneficial impacts of the investment in our new Centre of Excellence in India. This continued execution enables us to achieve the stated cost synergies target of USD 22 million.”

Attachment

• intertrust-q4-fy-2019-results-press-release