EBITDA was up $6 million from the year before to measure at $2.6 million, generated from a combination of Australian and European revenue growth.Group revenue totalled $14.5 million, a growth of 178 per cent.
The company cites uptake in its reloadable business, which saw total dollars loaded up 166 per cent to $447.5 million, and organic growth in European operations as primary reasons why.The year ahead, EML is expecting to further benefit from a margin contribution from CrownBet, bet365, MoneyMe and Credit Corp, companies which form the backbone of EML's reloadable business.
In a statement to the ASX, the company noted its growing vertical appeal in the Australian market. Its reloadables - which are essentially prepaid debit or credit cards - have broadening appeal among distribution programs, consumer lending, commercial and gaming.Brisbane-based Serena Russo and Neoclinical are two recent signings for EML in the commercial environment.
The company reports it is eyeing growth in B2B non-reloadables in Europe, which is likely to be 'as significant, if not more significant than in Australia'."Although it could take some years to generate the same contribution from B2B non-reloadable cards in Europe that we currently generate in Australia," said the announcement to the ASX.
At present, the European non-reloadables segment is 'highly seasonal' and a significant amount of volume is occurring in the month of December, but the company signed Hammersons and MFI on June 30 which is expected to deliver a boost.
Pictured: EML CEO and managing director Tom Cregan
*Please note: Emerchants (ASX:EML) completed a changed of name to EML Payments (ASX:EML) in October 2016
Get our daily business news
Sign up to our free email news updates.
Help us deliver quality journalism to you.
As a free and independent news site providing daily updates
during a period of unprecedented challenges for businesses everywhere
we call on your support