Paysafe Group Shows Upbeat Trading Update Ahead of FY 2015 Results

The group estimated its FY 2015 revenue at $600 million, helped in large part by a robust product line and

Paysafe Group plc (LSE:PAYS), an online payments and money transfer service and solutions provider, has announced a trading update for the past twelve months ending December 31, 2015, according to a Paysafe statement.

In particular, the group is expecting an FY 2015 revenue of $600 million, helped in large part by a robust product line and its North American business – this included an estimated group revenue in H2 2015 that had swelled to $380 million.

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Moreover, over the same period ending December 31, 2015, Paysafe is also portending an FY 2015 adjusted EBITDA of $150 million, which includes H2 adjusted EBITDA of $100 million, demonstrating a strong close to the fiscal year.

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Paysafe also underwent changes to its business, including the integration of digital payments business Skrill Group back in mid August. The group estimated that its H2 2015 savings as a result of the acquisition are commensurate with the upper threshold of a previously announced $5-10 million range.

In addition, Paysafe also launched a new global Paysafe brand identity back in November 2015. This was followed by share trading of Paysafe Group plc on the London Stock Exchange’s (LSE) marketplace on 23 December 2015. In addition to the LSE, Paysafe is also eyeing inclusion in the FTSE 250 Index at the March 2016 index review.

According to Paysafe President and Chief Executive Officer Joel Leonoff in a recent statement on the metrics: “This has been a transformational year for our business. Revenue and underlying earnings have grown strongly and the Skrill acquisition significantly enhances our global scale. The Group is now operating in more markets and geographies than ever before.”

“We are delivering on the targets we set ourselves as part of our strategy to create a payments powerhouse across digital wallets, payment processing and prepaid products and services. Our positive momentum, which continued through the fourth quarter, provides a strong foundation as we head into the new financial year,” he added.

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