LONDON, MONTREAL and NEW
YORK, Jan. 14, 2015 /PRNewswire/ - Optimal
Payments Plc (LSE AIM: OPAY, "Optimal Payments" or the "Group")
announces its trading update for the year ended 31 December 2014 ahead of its full year results
on 23 March 2015.
Highlights
- The Group expects revenue and EBITDA for 2014 will be in line
with market expectations, with reported revenue increasing 44% to
at least $365 million (2013:
$253.4 million) and EBITDA increasing
65% to at least $86 million (2013:
$52.2 million).
- Normalised profit after tax(1) for
2014 is expected to be materially ahead of market expectations,
principally due to an effective tax rate which is lower than
consensus as a result of historical tax losses and a mix of
revenues weighted towards operations conducted in lower tax
jurisdictions.
- The NETELLER Stored Value business performed well, driven by
underlying growth in customer metrics. The NETBANX Straight Through
Processing business also performed strongly, particularly in
Asia, incorporating revenues from
Meritus and GMA following completion of the acquisitions on
23 July 2014.
Significant progress on important initiatives in
2014:
- Principal Membership with Visa Europe and MasterCard Europe
achieved; Optimal Payments launched its acquiring service to
merchants in the European Union in Q4 2014.
- NETELLER and Net+ products launched in the US in March 2014 with good adoption by online gambling
merchants in the three states which have regulated online gambling.
Larger US states, including California and Pennsylvania, are considering regulating
online gambling in 2015. We have continued to develop our
relationships with current and potential merchants and have forged
successful partnerships in the rapidly developing area of fantasy
sports.
- In November we announced the launch of a new card issuing
services division to further enhance our end-to-end, complete
payments value chain offer. We have also launched NETELLERGO!, a
new flexible and easy-to-use online checkout page to provide
ecommerce merchants with indemnified alternative payments.
- The integration of the Meritus and GMA businesses acquired in
July 2014 is progressing well.
Commenting on today's trading update, Joel Leonoff, President & CEO, said:
"We are extremely pleased with the significant growth achieved
in 2014. Having accomplished all of our stated goals during the
year, both financial and non-financial, we have emerged with a
strong foundation for 2015 and look forward to maintaining the
momentum established in 2014. Our Executive Management Team has
been strengthened through the addition of talented and experienced
executives from Meritus and GMA and the recent appointment of
Brian McArthur-Muscroft as CFO
provides us with FTSE level experience and pedigree as well as
great leadership, discipline and value for our growing business. We
are excited about evolving opportunities associated with our
Principal Membership status with Visa and MasterCard and are
encouraged by the prospect of regulated online gambling in
additional US States. Finally, we expect that our M&A strategy
will continue to generate attractive opportunities for growth and
diversification in the year ahead."
Notes:
1)
|
Normalised profit
after tax is stated after adjusting for exceptional/acquisition
costs, amortisation of acquired intangibles, share based payments
and foreign exchange.
|
About Optimal Payments Plc
Optimal Payments is a
global provider of online payment solutions, trusted by businesses
and consumers in over 200 countries and territories to move and
manage billions of dollars each year. Merchants use the NETBANX®
platform and services to simplify how they accept credit and debit
card, direct-from-bank, and alternative and local payments; and the
NETELLER® service to increase revenues and capture new customers.
Consumers use the multilingual and multicurrency NETELLER and Net+®
Card stored-value offering to make secure and convenient payments.
In July 2014, Optimal Payments
acquired Meritus Payment Solutions and GMA as part of the company's
commitment to strengthen its presence in the US market. Optimal
Payments Plc is quoted on the London Stock Exchange's AIM, with a
ticker symbol of OPAY. Subsidiary company Optimal Payments Ltd is
authorised and regulated as an e-money issuer by the UK's Financial
Conduct Authority (FRN: 900015).
For more information on Optimal Payments visit
www.optimalpayments.com or subscribe at
http://www.optimalpayments.com/media/email-alerts.
SOURCE Optimal Payments Plc