LONDON, MONTREAL and NEW YORK (10 November, 2015) – Paysafe Group Plc, formerly Optimal Payments Plc, (LSE AIM: PAYS, "Paysafe", the “Group” or the "Company") provides an update on third-quarter trading ahead of its Capital Markets Day presentation in London later today.
- The Group has continued to enjoy strong trading during Q3 and full-year Group revenue and EBITDA before synergies are in line with management expectations.
- The acquisition of digital payments business Skrill completed in August 2015. The Group is pleased to report that the acquired business has completely absorbed the continuing adverse impact previously disclosed in relation to Greece and is nonetheless trading in line with the management expectations set out at the time of the transaction.
- In addition, the integration of the new Group is proceeding ahead of schedule – as a result, circa $5-10 million of synergy savings are expected to be achieved by the end of Q4 2015, ahead of management’s previously-expected Q1, 2016 timeline.
Paysafe President and CEO Joel Leonoff said:
“This has been a transformational year for the Company. We are particularly encouraged by the positive momentum we are seeing across all our divisions. We are trading well due to the continued strength of our business, strong cost control and accelerated synergies arising from the Skrill acquisition. Our growing digital payments business, under our new Paysafe brand, is focused on delivering sustainable profitable growth and we are very pleased with the progress we are making.”
Capital Markets Day
A Capital Markets Day presentation is being held today for shareholders, analysts and other stakeholders focusing on an overview of the Group’s operations and business divisions. A webcast of the presentation is scheduled to start at 1pm (UK time) and will be available live via edge.media-server.com/m/p/fi6fasyk with a replay facility expected to be available within 24 hours of the presentation. Alternatively, a conference call facility will be available at: +44 (0) 207 192 8016 (participant code: 6631010).
Move to Main Market and Full-Year Results
The Company continues to seek admission of its ordinary shares to listing on the premium segment of the Official List of the UK Listing Authority and admission to trading on the London Stock Exchange’s Main Market for listed securities. The Company anticipates the earliest possible date at which the Company will be considered for inclusion in the FTSE 250 index will be the quarterly review in March 2016.
The Company intends to provide a trading update for the year ended 31 December 2015 in January 2016 ahead of announcing full-year results scheduled for March 2016