Paysafe Group PLC Paysafe Group plc - Trading Update (5503O)
08 November 2016 - 6:00PM
UK Regulatory
TIDMPAYS
RNS Number : 5503O
Paysafe Group PLC
08 November 2016
Paysafe Group plc
Trading Update
Reiterating revenue and adjusted EBITDA guidance for FY 2016
LONDON, 8 November, 2016 - Paysafe Group plc (LSE: PAYS,
"Paysafe" or the "Group"), a leading global provider of payment
solutions, issues the following scheduled trading update covering
the period since the release of the Group's Half-Year Results on 10
August, 2016.
Current trading
- Further to the update on trading given at the Group's
Half-Year results in August, Paysafe continues to perform in line
with management expectations.
- The Group's expectations for revenue and adjusted EBITDA(1)
remain unchanged, with revenue in the range of $970m - $990m and an
adjusted EBITDA range of $287m - $293m, based on an adjusted EBITDA
margin of 29.6%.
Paysafe President and Chief Executive Officer Joel Leonoff
said:
"I am delighted to report that we are on track to achieve the
upgraded revenue and adjusted EBITDA projections for the current
financial year which we set out at the time of our Half-Year
results in August, all while maintaining our focus on further
expanding our payments business and enhancing our core technology
platform.
We remain focused on delivering innovative payment solutions
that serve the evolving needs of the merchants we work with and
look forward to updating the market on our FY 2016 results in early
2017."
(1) Adjusted EBITDA is defined as results of operating
activities before depreciation, amortisation, and share-based
payments and adjusted for exceptional non-recurring items which are
defined as items of income and expense of such size, nature or
incidence that, in the view of management, should be disclosed to
explain the performance of the Group.
About Paysafe
Paysafe provides digital payments and transaction-related
solutions to businesses and consumers around the world. Paysafe
makes transactions easy by enabling fast, convenient and secure
ways to pay before, pay now and pay later through its digital
wallets, prepaid solution, payment processing and card issuing and
acquiring products and services. We believe that every point of
every payment should be relevant, simple and secure. With two
decades of experience, Paysafe is trusted by merchants and
consumers in more than 200 countries and territories, to move and
manage money via more than 100 payment types and 40 currencies.
Paysafe offers multi-platform products with an emphasis on emerging
payment technologies including mobile. Paysafe's brand portfolio
includes NETELLER(R) and Skrill(R), MeritCard, paysafecard(R),
payolution(R), Income Access and FANS Entertainment. Paysafe Group
plc shares trade on the London Stock Exchange under the symbol
(PAYS.L). For more information, visit: www.paysafe.com.
For further information, contact:
Paysafe Group plc
Michelle Singleton, VP Investor Relations
+44 (0) 20 3826 9800 / investorrelations@paysafe.com
Anna Howard, Head of Corporate Communications
+44 (0) 20 3826 9822/ pr@paysafe.com
Brunswick Group LLP
Brian Buckley / Rowan Brown
+44 (0) 20 7404 5959 / paysafe@brunswickgroup.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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