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RNS Number : 8859S
Finablr PLC
11 November 2019
FINABLR PLC -TRADING UPDATE
London, November 11, 2019
Finablr PLC ("Finablr"), the global cross border payments and FX
platform, today issues its trading update for the 9 months to
September 30(th) , 2019.
Financial highlights
-- Group Adjusted Income(1) for 9M of U.S.$1,168mn, up 9.0% YoY
-- Group Adjusted EBITDA(2) for 9M of US$182.31mn, up 22.1% YoY
-- Underlying Group EBITDA margin of 15.6%, up 167 bps YoY
-- Total processed volumes (TPV) for 9M of US$97.2bn, up 13.5% YoY
Operational highlights
Strong continued momentum in B2B and Payment Technology
Solutions segment, as demonstrated by several commercial
partnership announcements since quarter end:
-- On October 3, Finablr announced a commercial partnership with Samsung to provide international money transfer
through an in-app service to 47 countries, within Samsung's native mobile wallet.
-- On October 22, Finablr announced a commercial partnership with Airtel Africa that will enable customers to send
money from over 100 countries into Airtel Money wallets across Africa.
-- On October 29, Finablr announced an MOU with China Union Pay to collaborate on cross border payments into
mainland China, digital wallets, digital shopping, VAT refunds and acceptance of Union Pay issued cards at
Finablr managed ATM networks.
Promoth Manghat, Group CEO, commented:
Each of our three segments delivered strongly during the period
as we continue to reap the benefits of a clear strategy and sharp
focus on execution.
As evidenced by recent partnership announcements in our B2B and
Payment Technology Solutions segment, our technology credentials
are an increasingly visible differentiator, as is Finablr' s
capacity to innovate and deliver Fintech at scale. Total processed
volumes are growing at double digits, reflecting robust organic
growth and deepening commercial ties with our partners, as well as
the incremental benefit of seasonality. In line with market
guidance, our take rates remain stable across the platform.
We reaffirm the guidance and outlook provided at the time of IPO
and remain highly confident in the future prospects of the
business.
Notes:
1. Adjusted for disposed of / discontinued and non-core
operations and impairments, entities not included in the financials
but being brought into the group as part of reorganization, and
100% of income from JV's and associates. Presented on a CER
basis.
2. Adjusted for disposed of / discontinued and non-core
operations and impairments, entities not included in the financials
but being brought into the group as part of reorganization, 100% of
income from JV's and associates, and exceptional and one-off costs.
Presented on a CER basis.
ENQUIRIES
Finablr
Ryan Ayache, Head of Investor Relations +971 56 681 53 21
Faiz Akbar Habib, Head of Group Communications +971 52 623 11 13
/ +44 7912 895375
Brunswick Group
Gill Ackers, Diana Vaughton +44 207 404 5959
ABOUT FINABLR
Finablr is a global platform for Payments and Foreign Exchange
solutions underpinned by modern proprietary technology. With deep
regulatory know-how, a relentless focus on innovation and leading
industry partnerships, Finablr' s group companies provide a broad
array of tailored and trusted financial solutions for consumers and
businesses across a wide network of digital channels, payments
platforms and retail stores.
Finablr is present across the entire payments and foreign
exchange value chain, from origination to processing to last-mile
distribution. An integrated platform is at the heart of group's
proposition, supporting an omni-channel strategy underpinned by
best-in-class operating capabilities and connectivity to global
payment networks. Driven by technology, the platform combines
flexibility with significant economies of scale, making Finablr a
partner of choice for leading global banks, financial institutions,
retailers, mobile wallet providers and payment & technology
companies.
Through its category renowned brands, including UAE Exchange,
Travelex, Xpress Money, Unimoni, Remit2India, Ditto and Swych,
Finablr processed over 150 million transactions in 2018, managing
nearly USD 115 billion in volume for its customers. The groups
global reach spans over 170 countries with relationships with more
than 100 regulators.
For more information, visit the Finablr website:
www.finablr.com
CAUTIONARY STATEMENT
This announcement may contain forward-looking statements,
including 'forward-looking statements' within the meaning of the
United States Private Securities Litigation Reform Act of 1995.
Forward-looking statements are sometimes identified by the use of
forward-looking terminology such as "believe", "expects", "may",
"will", "could", "should", "shall", "risk", "intends", "estimates",
"aims", "plans", "predicts", "continues", "assumes", "positioned"
or "anticipates" or the negative thereof, other variations thereon
or comparable terminology. These forward-looking statements include
all matters that are not historical facts.
These forward-looking statements and other statements contained
in this document regarding matters that are not historical facts
involve predictions. No assurance can be given that such future
results will be achieved; actual events or results may differ
materially as a result of risks and uncertainties facing the
Finablr group (the "Group"). Such risks and uncertainties could
cause actual results to vary materially from the future results
indicated, expressed or implied in such forward-looking statements.
Important factors that could cause the Group's actual results to so
vary include, but are not limited to: global and regional economic,
social and political changes; fluctuations in foreign exchange
rates; rapid technological changes in the financial services
market; actions taken by the Group's competitors, such as
consolidation of key competitors; the loss of a trademark or
diminution in the perceived quality associated with the Group's
brands; new or existing legal, regulatory and licensing
requirements, including anti-money laundering, sanctions and
anti-bribery laws; status of operations of the Group's computer and
communication systems, including the its proprietary processing
platforms, as well as third-party systems; and actions of the
Group's agents and third-party partners and service providers.
Except as required by any applicable law or regulation, the
Group expressly disclaims any obligation or undertaking to release
publicly any updates or revisions to any forward-looking statements
contained herein to reflect any change in the Group's expectations
with regard thereto or any change in events, conditions or
circumstances on which any such statement is based.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
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of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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(END) Dow Jones Newswires
November 11, 2019 02:00 ET (07:00 GMT)
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