SafeCharge published Year 2016 results; What revenues expect in 2017 

SafeCharge, an advanced payment technologies company, has issued today a press release to announce its results for the year ended 31 December 2016.

• Strong financial performance, platform development and focus on high quality customers sets foundations for stronger future growth

Overview and current trading

Following a successful year to 31 December 2016 and building on the strong trading and operational momentum achieved in Q4, the Group has made a good start to 2017. Transaction volumes continue to grow in our core payment processing and acquiring platform and the Group has a strong sales pipeline. The company continues to generate significant free cash flow, which is being returned to shareholders through the company’s dividend. The Directors look forward with confidence to 2017 and beyond.

The Board is issuing guidance for 2017 with revenues expected to be in the range of US$115m to US$118m, and Adjusted EBITDA between US$36m and US$38m. This will be driven by continued growth from our existing client base and over $1bn in annualised processing volumes from new clients due to start processing in 2017.

Financial highlights

	31-Dec-16 US$m	31-Dec-15 US$m	Change %
Core Revenues (constant currency**)	101.5	91.5	11
Adjusted EBITDA* (constant currency**)	35.3	31.1	14
Processing Volumes	8,082	6,934	17
Own Acquiring volumes	970	191	>400
Statutory revenues	104.1	99.8	4
Revenues (constant currency**)	106.9	99.8	7
Statutory gross profit	60.7	57.7	5
Adjusted EBITDA*	33.3	31.1	7
Statutory profit after tax	26.6	22.9	16
Cash balances at year end	115.4	114.9	0
Earnings per share	17.57 US$c	15.10 US$c	16
Recommended final dividend	9.47 US$c	7.30 US$c	30
Total dividend	16.47 US$c	11.30 US$c	46

* Adjusted EBITDA is a non-GAAP, company-specific measure which is earnings excluding interest, taxes, depreciation, amortisation, acquisition costs and contingent remuneration, restructuring costs and share-based payments charge (See Consolidated Statement of Comprehensive Income).

** Results stated on a constant currency basis, a non-IFRS measure, are calculated by applying the average exchange rate of the comparable period in the prior year to current period local currency results. 

Operational highlights

·	Successful launch of a fully serviced global payment solution to Tier 1 customers, including Sisal, Nayax, EL AL, Betfair, and SunBingo
·	Reshaping of the existing customer base undertaken during 2016 to upgrade the quality of revenues
·	A strong pipeline of new customers in digital services, online retail, video and travel to be launched during 2017
·	Significant growth in volumes processed through SafeCharge Acquiring and completion of card present certification
·	Multi-channel and airline solutions launched, global roll-out continues
·	Key Board and senior staff appointments to strengthen the management team
·	Expansion into Italian domestic market with recruitment of an experienced local business development team and first Tier 1 client wins
·	Offices in SE Asia and United States opening in Q1 2017, with Singapore already operational
·	Continued investment in infrastructure & technologies to support future growth
·	Investment in Risk & Compliance to navigate the complex regulatory backdrop

David Avgi, CEO of SafeCharge, said:

“I am pleased to report a good set of results. It has been another year of strong performance in the core business and the Company has made positive steps with the implementation of its organic growth strategy.  We continue to invest in our payment and risk platform to support future growth and are delighted that our customers recognise the benefits that SafeCharge’s payments solutions bring to them.

“The Group is confident that its focus on delivering high quality revenue combined with a substantial pipeline of new business will yield further revenue growth in 2017 and build stronger profitable momentum in 2018.“

Source: SafeExchange

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