Equals Group PLC Pre-Close Trading Update (1356Y)
12 Enero 2022 - 1:00AM
UK Regulatory
TIDMEQLS
RNS Number : 1356Y
Equals Group PLC
12 January 2022
For immediate release 12 January 2022
Equals Group plc
('Equals' or the 'Group')
Pre-Close Trading Update
'Strong finish to FY-21 with revenue up 52% on prior year'
Equals (AIM:EQLS) , the fintech payments group focused on the
SME marketplace, is pleased to announce a strong trading
performance for the financial year ended 31 December 2021 ('FY-21')
resulting in unaudited revenue of GBP44.1 million, an increase of
52% on FY-20.
FY-21 ended strongly with revenue for Q4-21 at GBP15.3 million,
up 96% on Q4-20 and up 28.1% on Q3-21. Revenue from the Solutions
product stream (at its core the 'own-name multi-currency IBAN'
capability) generated GBP3.5 million since its introduction in May
2021, demonstrating the revenue potential of the investments made
in technology and product in FY-19 and FY-20. Overall earnings in
FY-21 are in line with management expectations.
The Group is also in a robust financial position with GBP13.2
million of cash at bank as at 31 December 2021.
Early trading in FY-22 has continued the strong trend seen in
FY-21 and despite the well-publicised cost inflationary pressures
(particularly on payroll and utilities), the Group expects to
continue to manage its costs effectively.
The Group will continue to invest between 20% and 25% of its
headcount costs into further technology and product developments
for FY-22 but expects this to drop below 20% in FY-23 as the core
capabilities are delivered. In addition, the Group will be
increasing its sales and marketing activities to maximise B2B
revenue growth from its payments platforms - Equals Money, targeted
at SME's, and Equals Solutions, targeted at larger corporates.
'Travel Money' (travel cash and personal pre-paid debit cards)
averaged 5% of revenue in Q4-21, and the Group sees opportunities
for a potential bounce-back this year from the FY-21 levels of
revenue (approximately GBP2.8 million) towards FY-19 levels
(approximately GBP8.0 million).
Ian Strafford-Taylor, Chief Executive Officer, said: "Our
repositioning as a B2B focused fintech off the back of our
technology and product developments has differentiated us from our
peers. We are now monetising these capabilities, as can be clearly
seen by the rapid rise in our revenues. Without the need for
additional investment capital, we are able to grow revenues,
profits and cash balances whilst continuing to invest in further
product developments. Accordingly, we are extremely excited and
confident in the future of the Group."
- Ends -
This announcement contains inside information.
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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