Optimal Payments Plc - Year End Trading Update
Strong performance continues in second half of 2013
LONDON, MONTREAL and NEW YORK, Jan. 13, 2014 /PRNewswire/ - Optimal Payments Plc (LSE AIM: OPAY) (the "Group"), a leading international online payments provider, announces its trading update for the year ended December 31, 2013 ahead of its full year results on March 31, 2014.
- Revenue and EBITDA for 2013 expected to be ahead of market expectations, following continued strong performance in the second half of 2013 from both NETELLER® and NETBANX®.
- NETELLER eWallet initiatives continued to drive underlying growth in customer metrics and revenue in second half.
- Strong performance by NETBANX straight-through-processing division, particularly in Asia, including some second half seasonality.
- Increased costs in H2 as a result of investment in our U.S. gaming offering and increase in headcount to drive future growth.
- Strategic initiatives progressing well:
- Launch of U.S. on-line payment solution for U.S. regulated on-line gaming market. First U.S. gaming transactions processed in H2 2013; however, the timing and quantum of increased U.S. revenues remains uncertain.
- Principal Membership with Visa® Europe and MasterCard® Europe achieved enabling Optimal Payments to offer acquiring to merchants in the European Union from H2 2014.
- Continued focus on identifying possible M&A candidates and pursuing potential acquisitions.
The Group now expects that reported revenue for the full year should not be less than $245.0 million (H1: $118.4 million) while reported EBITDA should not be less than $51.5 million (H1: $25.2 million).
Commenting on today's trading update, Joel Leonoff, President & CEO, said: "2013 has been an exceptional year for the Group with substantial growth in revenues and in particular EBITDA which evidences the strength of our operationally geared business model.
"We believe that the ongoing investment we are making in expanded infrastructure and U.S. online gaming initiatives will help to drive sustained future growth in 2014, 2015 and beyond."
About Optimal Payments Plc
Optimal Payments is a global provider of online payment solutions. Trusted by businesses and consumers in over 200 countries to move and manage billions of dollars each year, merchants use the NETBANX® processing service to simplify how they accept and settle credit card, direct-from-bank, and cash payments; and the NETELLER® payment service to increase margins, capture new customers and increase their lifetime value. Being an independent provider has allowed the company to support tens-of-thousands of merchants around the globe across a wide range of industries. Optimal Payments Plc is quoted on the London Stock Exchange's AIM market, with a ticker symbol of OPAY. Subsidiary company Optimal Payments Ltd is authorized and regulated as an e-money issuer by the UK's Financial Conduct Authority (FRN: 900015).
SOURCE Optimal Payments Plc.