EMERCHANTS RELOADS ANOTHER WIN

EMERCHANTS RELOADS ANOTHER WIN
PAYMENT solutions provider Emerchants (ASX: EML) has reported a triple-figure increase to its revenue and positive growth across most markers of its business.

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

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Please note: Emerchants (ASX:EML) completed a changed of name to EML Payments (ASX:EML) in October 2016
 

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