SafeCharge Interim Results for the six months ended 30 June 2015

TAGs: David Avgi, EBITDA, Interim Result, Press Releases, safecharge

SafeCharge Interim Results for the six months ended 30 June 2015SafeCharge (AIM: SCH), a leader in advanced payment technologies, is pleased to announce its interim results for the six months ended 30 June 2015.


  • Revenues up 44% to US$49.5m (H1 2014: US$34.4m)
  • Gross Profit up 40% to US$28.5m (H1 2014: US$20.3m)
  • Adjusted EBITDA(1) up 41% to US$15.2m (H1 2014: US$10.8m)
  • Adjusted profit(1) up 59% to US$16.1m (H1 2014: US$10.1m)
  • Cash flows from operations US$14.5m (H1 2014:US$10.2m)
  • Reported profit after tax US$12.4m (H1 2014: US$4.8m)
  • Cash balances as at 30 June of US$115.7m (30 June 2014: US$142m)
  • Recommended interim dividend up 39% to 4US$cents per share (H1 2014: 2.88US$cents per share).

The dividend shall be paid in sterling, and shareholders will receive 2.6 pence per share

(1)    Adjusted EBITDA and Adjusted profit are calculated after adding back certain non-cash charges and cash expenses relating to professional costs incurred in respect of the Company’s Initial Public Offering, acquisition related costs and share-based payments charges (See Consolidated Statement of Comprehensive Income).

Current trading

The Group’s business continues to grow, with new products and diversified clients portfolio, a very strong pipeline and many new clients committed to go live on the SafeCharge platforms in the second half. The Directors remain very confident for the full year 2015 and beyond.

Operational highlights

Successful launch of VISA acquiring services complementing MasterCard services launched in 2014

    • Over 100 new customer wins in the core processing business with a strong pipeline and several significant new customers to go live in H2
    • Core business processing volumes US$3.3 billion (H1 2014: US$ 2.6 billion)
    • mobile wallet and MasterCard pre-paid card ready for commercial launch Q4. Multiple regional partners signed for reselling of the cards locally in Europe
    • Recognition of technology  leadership winning four prestigious awards including ‘Innovation in Payments’ and ‘Overall Payments Company’ categories of the eGaming Review Awards

David Avgi, CEO of SafeCharge, said:

“This is another set of very strong financial results. We have continued to develop and expand our technology base and product offering, particularly our acquiring services and issuing capabilities. With our strong current trading and pipeline, we look forward to the rest of the year with confidence and optimism.”

For a full report of results click here.

Interviews with and photography of David Avgi available on request.

About SafeCharge

SafeCharge International Group Limited is a global provider of payments services, technologies and risk management solutions for online and mobile businesses. The SafeCharge group has a diversified, blue chip client base and is a trusted payment partner for customers from various e-commerce verticals. SafeCharge has been Payment Card Industry Data Security Standard (“PCI-DSS”) Level 1 certified since 2007 and is listed on the London Stock Exchange AIM market (LSE: SCH). The Company’s wholly owned subsidiary, SafeCharge Limited, is an authorized Electronic Money Institution regulated by the Central Bank of Cyprus and a principal member of MasterCard Europe and VISA Europe. The SafeCharge group has operations in the UK, Cyprus, Bulgaria, Israel, Germany, Austria and Ireland.


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