· Group Gross Debit Volume (‘GDV’) of $19.7 billion, up 42% on FY20;
· Group Revenue of $194.2 million, up 60% on FY20 and above the guidance range of $180-$190 million;
· Group underlying EBITDA1 of $53.5 million, up 65% on FY20 and towards the top end of the guidance range of $50-54 million;
· Group underlying NPATA2 of $32.4 million, up 54% over PCP; and
· Underlying operating cash inflows of $46.7 million, representing 87% of underlying EBITDA
EML Payments Limited (ASX: EML) is pleased to release its 2021 Annual Report.
Highlights for the twelve months ended 30 June 2021 include:
Record Underlying Group EBITDA of $53.5 million, up 65% on FY20
The Group achieved very strong EBITDA growth on an underlying basis driven by a 42% increase in Gross Debit Volume (“GDV”). Underlying EBITDA came in at a record $53.5 million – up 65% on the Prior Comparative Period (“PCP”). Statutory EBITDA rose 30% to $42.2 million despite incurring $11.4 million of one-off costs associated with the Central Bank of Ireland (‘CBI’) matter and headwinds in our global Gift & Incentive segment due to the ongoing impacts of COVID-19 related shopping mall closures in Europe, Canada and North America.
Excluding the financial impact of the CBI matter, underlying EBITDA was at the top of our previous guidance range of $50-54 million.
Gross Debit Volume of $19.7 billion, up 42% on FY20
The Group has a strong track record of growing GDV over the past 10 years. Since FY12, we have grown GDV from $100.9 million to a record $19.7 billion in FY21, representing 10-year CAGR of 80%. EML has completed its transition into a majority GPR business with 50% of GDV now deriving from this segment and all three segments, GPR, G&I and VANS, continuing to launch new programs in the financial year as demand for our innovative payment solutions continued.
The General Purpose Reloadable (GPR) segment grew GDV to $9.8 billion, up 134% on PCP, driven by volumes in segments including digital banking, fintech, government, salary packaging and gaming programs.
