SafeCharge claims record performance in fourth quarter
SafeCharge has revealed in a pre-close trading update that it was able to achieve record transaction processing volumes and revenues during the final three months of 2016.
The firm said the record results were generated as a result of the management’s focus on ‘Tier-1’ customers including PaddyPower Betfair, Sun Bingo, Sisal and Nayax, all of which went live in the second half of the year.
SafeCharge also said in the update that adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) should amount to between $33 million (€30.9 million) and $34 million.
The company added that it still expects the full-year dividend to total 75% of adjusted EBITDA for the 12 months.
In addition, SafeCharge expects to report that it closed the year with more than $124 million of cash and short-term investments, and remains debt-free.
David Avgi, chief executive of SafeCharge, said: “Since listing the group nearly three years ago we have rapidly developed the scope and scale of our business, enabling us to start 2017 with the ability – and appetite – to aggressively compete for a greater share of Tier 1 customers across multiple e-commerce verticals and geographic markets.
“At the same time as achieving a strong financial performance, including paying substantial dividends to shareholders, we have maintained an acute awareness of what it will take to continue being successful as our markets evolve and customer needs change.
“I am excited by the challenges and valuable opportunities ahead of us and believe that we are ideally positioned to sustainably grow the business.”
Related article: SafeCharge details directorate changes