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February 8, 2019

Euronet returns to profit in Q4

US-based electronic payments provider Euronet posted attributable net income of $60m for the fourth quarter of 2018, compared with a net loss of $22.9m a year earlier.

The company’s operating income for the quarter ended 31 December 2018 stood at $71.2m. This represents a surge of 73% from $41.1m in the same quarter of 2017.

Adjusted operating income was $84.8m, up 15% from $73.6m in the previous year.

Revenues too reported an increase, with a 7% year-on-year growth to $649.4m.

Compared to the previous year, transactions increased 15% to 1.08 billion.

The company’s EFT Processing Segment reported 19% surge in revenues to $753.6m.

The segment’s operating income soared 21% to $197.2m from $162.9m a year ago.

In the epay Segment, revenues dropped 3% to $215m on a year-on-year basis.

The epay Segment posted operating income of $29.3m for the three months to December 2018, as against a loss of $6.3m in the corresponding quarter of 2017.

The Money Transfer Segment reported quarterly revenues of $274.1m, up 15% from the previous year.

Operating income at the segment remain almost unchanged at $29.3m.

Euronet chairman and CEO Michael Brown said: “We finished the year strong, delivering fourth quarter adjusted EPS of $1.37, a 21% year-over-year increase. This strong fourth quarter growth included double-digit revenue and adjusted EBITDA contributions from all three segments, together with beneficial income tax expense.

“EFT sustained its growth from continued expansion of our ATM networks.  epay delivered a strong fourth quarter resulting from seasonally strong sales of non-mobile content.  And Money Transfer continued its strong growth trends from success in both the physical and digital channels.”

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