Record payday for EML teases bigger year ahead

Record payday for EML teases bigger year ahead

EML Payments (ASX: EML) had a big year in FY18 and the company has no plans to slow it down anytime soon.

The payments solution provider posted a record year of earnings in FY18, up 43 per cent to $20.8 million.

Revenue also increased to $71 million, up 23 per cent, and the company recorded a net profit of $4.83 million, up by a staggering 200 per cent on FY17.

While these results speak to the company's achievements in FY18, EML Payments' recent acquisitions and new international partnerships could suggest an even more impressive financial year is on the horizon.

The company recently acquired 100 per cent of Presend, a leading provider of non-reloadable solutions for shopping malls (gift cards) in Europe, as well as 74.86 per cent of Perfectcard, Ireland's first authorised eMoney institution.

These two acquisitions prime the company for increased expansion into the EU and UK regions.

EML has also revealed new and significant business partnerships that it says will be accretive in FY19 and beyond.

The most notable of these is with shopping mall operator ECE Projektmanagement G.m.b.H & Co (EXE), where EML will manage a new consumer gift card program for 87 of the foreign company's shopping malls in Germany.

EML says this project will be fully launched in Q2 of FY19 and will deliver an annualised gross development value (GDV) of $142 million.

Also in Europe, EML says the company is preparing to launched new reloadable programs to provide winnings payout cards for the online gaming industry with Fortuna, Betsson, and GVC.

GVC is one of the largest online gaming companies in the world and operates in 20 different jurisdictions.

In the United States, EML's first reloadable program continues to make a material GDV contribution of approximately 28 per cent following its launch in April 2017.

Shares in EML are up 2.19 per cent to $1.73 per share at 11.05am AEST.

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