Swiss’ Temenos posts 22% rise in revenue for 2017

Swiss’ Temenos posts 22% rise in revenue for 2017

Swiss banking and financial services software company, Temenos said its total revenue for the year 2017 rose by 22% to CHF736 million.

Commenting on the results, Temenos CEO David Arnott said: “I am delighted with our performance in Q4, in which the business has continued to accelerate and capitalise on the significant momentum in our end market. We have ended the year in a very strong position, with double-digit growth across all our geographies, which is a testament to the dedication and talent of all our colleagues and our ability to consistently execute at a very high standard year after year.

“2017 has been a year in which our traction and leadership with tier 1 and 2 banks have been clearly demonstrated. We won deals with Openbank, Itau, KBC and a US tier 1 bank among others, which speaks to our global relevance and the strength of our value proposition. Our clients are looking for a software partner that will help them understand and address the pressures of digitization, regulation and the new world of open banking. With the leading packaged, upgradeable and open banking software in the market, we are the vendor of choice for the world’s largest banks”.

He added that “Looking forward to 2018, I am hugely excited by the opportunities we have. We continue to grow our addressable market and our end market is expanding rapidly. I am confident we will continue to take market share and pull ahead of the competition in 2018.”

Commenting on the results, Temenos CFO and COO Max Chuard said: “We have had a very strong performance in 2017, with total software licensing growth of 22% and total revenue growth of 15%. We also grew profit by 17% and delivered margin expansion of 98bps year-on-year. Our cash conversion of 114% for 2017 is significantly above our target of 100% of EBITDA and means we are recommending a 2017 dividend of CHF 0.65, an increase of 18% on 2016.