Intertrust N.V. Q2 and H1 2017 results

Amsterdam - 24 August 2017 - Intertrust N.V. ("Intertrust" or the "Company") [ticker symbol INTER], a leading global provider of high-value trust, corporate and fund services, today announces its results for the second quarter and half year ended 30 June 2017.

Intertrust financial and operating performance for Q2 and H1 2017

• Management reiterates full year 2017 guidance for underlying revenue of at least 3.5% year-on-year and for Adjusted EBITA margin between 37.5-38.5%. 
• Revenue increased 33.0% year-on-year to EUR 118.1 million in Q2, but declined 0.1% on an underlying basis. Revenue for H1 was EUR 239.7 million, implying underlying growth of 2.0%. 
• Adjusted EBITA was EUR 41.7 million in Q2, up 18.6% but down 9.0% underlying year-on-year. Adjusted EBITA margin declined 342bps to 35.3% in Q2, primarily due to EUR 2.1 million of non-recurring expenses (or approx. 180bps). 
• Elian synergy realisation continues on track; the IT integration is now expected to be completed in 2019. 
• Adjusted net income in H1 2017 grew 24.1% to EUR 64.5 million. Adjusted EPS in H1 2017 was EUR 0.71, up 15.9% year-on-year. 
• An interim dividend of EUR 0.28 per share has been declared and will be paid on 29 November 2017. 
• Management and Supervisory Board changes are announced in separate press releases also published today.

For the full Q2 and H1 press release please open the attached file or click here.
A supporting presentation can be downloaded from our website.

Analyst conference call:

Intertrust CEO David de Buck and CFO Maarten de Vries will hold an analyst / investor call at 09:30 CET today.

A webcast of the call will be available on the Company's website. The webcast can be accessed here. 
If you would like to be able to ask questions during the webcast, please also register to dial in. We recommend dialling in 5 to 10 minutes prior to the start time.