2012 has been a good year for the Group and I am pleased with the progress we continue to make...the Board remains confident about the Group's prospects.
London, UK (PRWEB) January 14, 2013
- Revenue and EBITDA for 2012 ahead of market expectations, following strong growth in the second half of 2012 across all businesses.
- Strong performance by NETBANX straight-through-processing ("STP") division, particularly in Asia, due to underlying growth from existing and new merchants and second half STP seasonality.
- New NETELLER eWallet initiatives drove strong growth in customer metrics and revenue in second half.
- Strategic initiatives gaining momentum with US gaming partners announced including Caesars Interactive and Vantiv.
- Board confident about Group's prospects.
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As anticipated, trading in the second half of 2012 was stronger than the first half, driven by the robust performance of the NETBANX STP division, in particular in Asia, and a significant improvement in the NETELLER Stored Value business as new initiatives resulted in an increase in new member signups and deposits, total active members and consequently revenue. As a result, both revenue and EBITDA for the full year ended 31 December 2012 are expected to be ahead of market expectations. The Group now expects reported revenue for the full year will not be less than $172 million while reported EBITDA should not be less than $26.0 million (H1: $11.2 million).
The second half saw considerable progress on the Group's major strategic initiatives. A number of contracts have been signed with major operators and service provider partners as part of the Group's proposed payments solution for the regulated US gaming market, including Caesars Interactive and Vantiv. Development of the Group's white-label payment systems has advanced on both the gateway solution with Desjardins and other potential partners while work on the Group’s next generation mobile-enabled eWallet is progressing well.
Commenting on today's trading update, Joel Leonoff, President & CEO, said:
"2012 has been a good year for the Group and I am pleased with the progress we continue to make. Both our NETELLER and NETBANX businesses performed well in the second half, as the Group continues to gain international credibility and win new customers around the world. We look forward to 2013 as we build upon our strong technological and risk-management foundation. We believe the momentum we have built in 2012, particularly during the second half, will continue into 2013 as our pipeline of opportunities and financial run rate are encouraging. Our experienced and professional management team and staff continue to work effectively to drive the Group forward and we see many opportunities for both our NETBANX straight through processing and NETELLER stored value businesses in 2013 and beyond.
While regulatory uncertainty in the gaming sector continues, the Board remains confident about the Group’s prospects”.
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For further information contact:
Optimal Payments Plc
Andrew Gilchrist EVP Corporate Affairs + 44 (0) 203 5447 250
Canaccord Genuity Limited (Nominated Adviser to Optimal Payments) + 44 (0) 20 7523 8000
Simon Bridges / Cameron Duncan
Citigate Dewe Rogerson (PR adviser to Optimal Payments) + 44 (0) 20 7638 9571
Angharad Couch / Nicola Swift / Priscilla Garcia
About Optimal Payments
Optimal Payments is a global provider of online payment solutions. Trusted by businesses and consumers in over 190 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 account 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 authorised and regulated as an e-money issuer by the UK’s Financial Services Authority (FRN 900015).