Equals Group PLC Trading Update (8858U)
08 Diciembre 2021 - 12:59AM
UK Regulatory
TIDMEQLS
RNS Number : 8858U
Equals Group PLC
08 December 2021
For immediate release 8 December 2021
Equals Group plc
('Equals' or the 'Group')
Trading Update
'Results exceed full year expectations'
'Past investment drives growth across the platform and delivers
record revenues'
Equals (AIM:EQLS) , the fintech payments group focused on the
SME marketplace, is pleased to announce that is has significantly
exceeded full-year expectations for both revenues and Adjusted
EBITDA and is accordingly providing the market with a trading
update for the period from 1 January 2021 to 6 December 2021 (the
'year to date') and 1 October 2021 to 6 December 2021 (the
'Period').
Group revenue for the year to date was GBP40.4 million compared
to GBP26.8 million for the same period in 2020 - an increase of
51%.
Group revenue for the Period was GBP11.6 million compared to
GBP5.7 million for the same period last year - an increase of
105%.
As announced on 28 October 2021, both the year to date and the
Period benefitted from a material international payments
transaction for a large corporate client that generated revenue of
GBP1.5 million.
The table below provides more detail on the revenues:
GBP000's Year to date Period
2021 2020 % change 2021 2020 % change
------------------- -------- -------- --------- ------- ------- ---------
Material trade 1,513 0 1,513 0
All other
non-travel
related revenues 35,743 24,168 +48% 9,496 5,165 +84%
Travel-related
revenues 3,160 2,655 +19% 597 504 +18%
------------------- -------- -------- --------- ------- ------- ---------
Total revenues 40,416 26,823 +51% 11,606 5,669 +105%
------------------- -------- -------- --------- ------- ------- ---------
Ex material
trade 38,903 26,823 +45% 10,093 5,669 +78%
------------------- -------- -------- --------- ------- ------- ---------
Underlying revenues rose by 45% over the year to date and 78% in
the Period to date. These significant increases have been largely
driven by strong demand for the Group's 'Equals Solutions'
proposition, the new multicurrency product aimed at larger
businesses, which has generated GBP3.1 million in the year to date
and GBP1.2 million in the Period alone; along with substantial
growth in both the Group's Spend platform and its white-label
business.
Revenues from the Group's B2C travel-money products represented
only 5% of total revenue in the Period.
The strong performance in revenues has also underpinned
increased gross profits and EBITDA and as such the Group has now
exceeded full-year profitability forecasts.
This robust trading performance of the Group further underpins
the Board's confidence in accelerating momentum and maintaining
growth moving into the final days of 2021 and into FY-2022. In
order to drive further growth the Group continues to re-invest and
upgrade the sales functions of the business and this will be
reflected in higher staff costs in 2022.
Ian Strafford-Taylor, Chief Executive Officer, said: "I am
delighted to be able to inform the market that the strong
performance we saw in September and October has continued and
allowed us to significantly surpass the market expectations for the
full year in early December. Our results show the results of
strategic steps we undertook three years ago to pivot the business
to a B2B-focus and to invest into our platforms and
connectivity."
- Ends -
For more information, please contact:
Equals Group plc
Ian Strafford-Taylor, CEO Tel: +44 (0) 20 7778
Richard Cooper, CFO 9308
www.equalsplc.com
Canaccord Genuity (Nominated Advisor
/ Broker)
Bobbie Hilliam / Georgina McCooke Tel: +44 (0) 20 7523
Alex Aylen (Sales) 8150
Buchanan (Financial Communications)
Henry Harrison-Topham / Steph Whitmore Tel: +44 (0) 20 7466
/ Toto Berger 5000
equals@buchanan.uk.com www.buchanan.uk.com
Notes to Editors:
Equals Group is a technology-led international payments group
augmented by highly personalised service for the payment needs of
SME's whether these be FX, card payments or via Faster Payments.
Founded in 2007, the Group listed on AIM in 2014 and currently
employs around 250 staff across sites in London and Chester. For
more information, please visit www.equalsplc.com .
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END
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December 08, 2021 01:59 ET (06:59 GMT)
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