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Full Year Trading Update
Jan 08, 2016
LONDON (8 January, 2016) – Paysafe Group plc (LSE: PAYS, “Paysafe” or the “Group”), a leading global provider of online payment solutions, announces its unaudited trading update for the year ended 31 December 2015.
- FY 2015 revenue and adjusted EBITDA(1) are expected to be ahead of market expectations.
o FY 2015 revenue of circa $600m. H2 2015 Group revenue of circa $380m, driven by strong growth across the Group’s product lines, particularly in the Processing division’s North American business.
o FY 2015 adjusted EBITDA of circa $150m. H2 2015 adjusted EBITDA of circa $100m.
- The integration of digital payments business Skrill Group, the acquisition of which completed on 10 August 2015, is progressing well. Anticipated H2 2015 synergy savings are expected to be towards the top end of the previously announced $5-10m range.
- The Group’s new global Paysafe brand identity launched in November 2015.
- Shares in Paysafe Group plc began trading on the London Stock Exchange’s Main Market on 23 December 2015. The Group expects to be considered for inclusion in the FTSE 250 Index at the March 2016 index review.
Paysafe President and Chief Executive Officer Joel Leonoff said: “This has been a transformational year for our business. Revenue and underlying earnings have grown strongly and the Skrill acquisition significantly enhances our global scale. The Group is now operating in more markets and geographies than ever before.
We are delivering on the targets we set ourselves as part of our strategy to create a payments powerhouse across digital wallets, payment processing and prepaid products and services. Our positive momentum, which continued through the fourth quarter, provides a strong foundation as we head into the new financial year.”
Paysafe expects to announce its final results for the year to 31 December 2015 on Wednesday 16 March 2016.
(1) Adjusted EBITDA is defined as results of operating activities before depreciation, amortisation, and share-based payments and adjusted for exceptional non-recurring items which are defined as items of income and expense of such size, nature or incidence that, in the view of management, should be disclosed to explain the performance of the Group.
Paysafe Group plc (formerly Optimal Payments plc) 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 Paysafe's services and gateway platforms and innovative prepaid products and solutions to simplify how they accept credit and debit card, direct‑from‑bank, and alternative and local payments; while Paysafe's NETELLER®, Skrill® and paysafecard® services are used by merchants to increase revenues and capture new customers. Consumers use the multilingual and multicurrency NETELLER, Net+® Card, Skrill and Skrill Card stored-value offerings and the paysafecard prepaid solutions to make secure and convenient payments and payolution® for their invoices and instalment payments. Paysafe also supports a wide variety of prepaid programmes - from white-label prepaid cards to bespoke solutions.
For further information, contact:
Paysafe Group plc
Michelle Singleton, VP Investor Relations
+44 (0) 20 3826 9800 / email@example.com
Gavin Haycock, SVP Corporate Communications
+44 (0) 20 3826 9767 / firstname.lastname@example.org
Tavistock (Financial PR)
Simon Hudson / Simon Fluendy / Andrew Dunn
+44 (0) 20 7920 3150 / email@example.com