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Finablr PLC (FIN)


Monday 11 November, 2019

Finablr PLC

Trading Update

RNS Number : 8859S
Finablr PLC
11 November 2019


London, November 11, 2019

Finablr PLC ("Finablr"), the global cross border payments and FX platform, today issues its trading update for the 9 months to September 30th, 2019.

Financial highlights

·    Group Adjusted Income1 for 9M of U.S.$1,168mn, up 9.0% YoY

·    Group Adjusted EBITDA2 for 9M of US$182.31mn, up 22.1% YoY

·    Underlying Group EBITDA margin of 15.6%, up 167 bps YoY

·    Total processed volumes (TPV) for 9M of US$97.2bn, up 13.5% YoY

Operational highlights

Strong continued momentum in B2B and Payment Technology Solutions segment, as demonstrated by several commercial partnership announcements since quarter end:

  • On October 3, Finablr announced a commercial partnership with Samsung to provide international money transfer through an in-app service to 47 countries, within Samsung's native mobile wallet.  
  • On October 22, Finablr announced a commercial partnership with Airtel Africa that will enable customers to send money from over 100 countries into Airtel Money wallets across Africa.
  • On October 29, Finablr announced an MOU with China Union Pay to collaborate on cross border payments into mainland China, digital wallets, digital shopping, VAT refunds and acceptance of Union Pay issued cards at Finablr managed ATM networks.


Promoth Manghat, Group CEO, commented:

Each of our three segments delivered strongly during the period as we continue to reap the benefits of a clear strategy and sharp focus on execution.

As evidenced by recent partnership announcements in our B2B and Payment Technology Solutions segment, our technology credentials are an increasingly visible differentiator, as is Finablr' s capacity to innovate and deliver Fintech at scale. Total processed volumes are growing at double digits, reflecting robust organic growth and deepening commercial ties with our partners, as well as the incremental benefit of seasonality. In line with market guidance, our take rates remain stable across the platform.

We reaffirm the guidance and outlook provided at the time of IPO and remain highly confident in the future prospects of the business.



1.     Adjusted for disposed of / discontinued and non-core operations and impairments, entities not included in the financials but being brought into the group as part of reorganization, and 100% of income from JV's and associates. Presented on a CER basis.

2.     Adjusted for disposed of / discontinued and non-core operations and impairments, entities not included in the financials but being brought into the group as part of reorganization, 100% of income from JV's and associates, and exceptional and one-off costs. Presented on a CER basis. 





Ryan Ayache, Head of Investor Relations +971 56 681 53 21

Faiz Akbar Habib, Head of Group Communications +971 52 623 11 13 / +44 7912 895375



Brunswick Group

Gill Ackers, Diana Vaughton +44 207 404 5959




Finablr is a global platform for Payments and Foreign Exchange solutions underpinned by modern proprietary technology. With deep regulatory know-how, a relentless focus on innovation and leading industry partnerships, Finablr' s group companies provide a broad array of tailored and trusted financial solutions for consumers and businesses across a wide network of digital channels, payments platforms and retail stores.


Finablr is present across the entire payments and foreign exchange value chain, from origination to processing to last-mile distribution. An integrated platform is at the heart of group's proposition, supporting an omni-channel strategy underpinned by best-in-class operating capabilities and connectivity to global payment networks. Driven by technology, the platform combines flexibility with significant economies of scale, making Finablr a partner of choice for leading global banks, financial institutions, retailers, mobile wallet providers and payment & technology companies.


Through its category renowned brands, including UAE Exchange, Travelex, Xpress Money, Unimoni, Remit2India, Ditto and Swych, Finablr processed over 150 million transactions in 2018, managing nearly USD 115 billion in volume for its customers. The groups global reach spans over 170 countries with relationships with more than 100 regulators.


For more information, visit the Finablr website: 




This announcement may contain forward-looking statements, including 'forward-looking statements' within the meaning of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements are sometimes identified by the use of forward-looking terminology such as "believe", "expects", "may", "will", "could", "should", "shall", "risk", "intends", "estimates", "aims", "plans", "predicts", "continues", "assumes", "positioned" or "anticipates" or the negative thereof, other variations thereon or comparable terminology. These forward-looking statements include all matters that are not historical facts.


These forward-looking statements and other statements contained in this document regarding matters that are not historical facts involve predictions. No assurance can be given that such future results will be achieved; actual events or results may differ materially as a result of risks and uncertainties facing the Finablr group (the "Group"). Such risks and uncertainties could cause actual results to vary materially from the future results indicated, expressed or implied in such forward-looking statements. Important factors that could cause the Group's actual results to so vary include, but are not limited to: global and regional economic, social and political changes; fluctuations in foreign exchange rates; rapid technological changes in the financial services market; actions taken by the Group's competitors, such as consolidation of key competitors; the loss of a trademark or diminution in the perceived quality associated with the Group's brands; new or existing legal, regulatory and licensing requirements, including anti-money laundering, sanctions and anti-bribery laws; status of operations of the Group's computer and communication systems, including the its proprietary processing platforms, as well as third-party systems; and actions of the Group's agents and third-party partners and service providers.


Except as required by any applicable law or regulation, the Group expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Group's expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.





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