Temenos enjoys software licensing growth of 22%
Banking software vendor Temenos enjoyed a decent 2017 with a total software licensing growth of 22%, retaining the momentum gained in 2016.
If you had forgotten, back in 2016 it revealed a total software licensing growth of 21% and earnings growth of 20%.
In its latest flurry of stats, Temenos says tier 1 and 2 banks contributed 59% of its total software licensing in FY 2017, and it had 65 new customer wins.
Temenos CEO David Arnott says: “We won deals with Openbank, Itau, KBC and a US tier 1 bank among others [State Street, as FinTech Futures reported exclusively], which speaks to our global relevance and the strength of our value proposition.”
The firm had a total revenue growth of 15%, and grew profit by 17%. Total revenue for the year came to $736.7 million – with software licensing coming in at $316.1 million.
Temenos CFO and COO Max Chuard says for 2018 it is guiding for non-IFRS total software licensing growth of 13.5% to 18.5% and non-IFRS total revenue growth of between 10% and 13%.
He adds that is guiding for 2017 non-IFRS EBIT of $255 million to $260 million, which implies a margin of over 31%. For FY 2017, non-IFRS earnings per share (EPS) was $2.45, an increase of 18%.