Optimal Payments PLC: Half Yearly Report

ISLE OF MAN, UNITED KINGDOM--(Marketwired - Aug 26, 2015) - Optimal Payments PLC (AIM: OPAY)

 LSE AIM: OPAY

Optimal Payments Plc

Results for the half year ended 30 June 2015

Strong performance in first half, post period end completion of Skrill acquisition

LONDON, MONTREAL and NEW YORK (26 August, 2015) - Optimal Payments Plc (LSE AIM: OPAY, "Optimal Payments", the "Group" or the "Company") today announces its results for the six months ended 30 June 2015. Note the performance for the period does not include any contribution from Skrill, which completed after the period end.

Highlights Strong performance in line with expectations:

• Revenues up 40.2% to $223.0m (H1 2014: $159.1m)
• Adjusted EBITDA⁽¹⁾ up 27.9% to $49.9m (H1 2014: $39.0m)
• Adjusted profit after tax increased by 18.7% to $37.3m (H1 2014: $31.4m); statutory profit after tax reported at $2.4m (H1 2014: $27.5m).
• Adjusted diluted EPS⁽²⁾ increased 11.4% to $0.12 (H1 2014: $0.11); statutory fully diluted EPS at $0.01 (H1 2014: $0.10)

• NETELLER Stored Value ("SV") business: revenues up 20.1% to $49.8m (H1 2014: $41.4m) in spite of the weakness of the Euro against the USD.
• NETBANX Straight Through Processing ("STP") business: revenues up 47.4% to $173.0m (H1 2014: $117.4m), incorporating revenue from the acquired US businesses.
• Group cash and cash equivalents of $113.3m (31 December 2014: $109.9m) - excludes cash raised on rights issues of $685.3m:
  • Reporting of cash and cash equivalents restated to exclude settlement assets and restricted cash (held for NETELLER members and merchants) and cash held as reserves⁽³⁾ to provide a more transparent analysis of the Group's cash position
  • Free cash flow⁽⁴⁾ of $29.9m (H1 2014: $10.9m).
• Significant progress on key strategic initiatives:
  • The acquisition of Skrill, announced on 23 March 2015 and completed 10 August 2015, positions the Group as a market leader in the fast growing and profitable stored value, payment processing and prepaid sectors with the ability to process over 100 payment types in more than 20 languages and over 40 currencies. The enlarged Group will have an increased customer and geographic diversification with further upside potential from cross selling opportunities. The integration of Skrill and subsequent delivery of synergy benefits is proceeding in accordance with our plans.

Full text of the announcement is available at http://www.optimalpayments.com/investor-relations/regulatory-new