EML Payments - Edison Group

EML Payments (ASX: EML)

Currency in AUD

Last close As at 30/11/2023

AUD0.77

▲ −0.33 (−30.00%)

Market capitalisation

AUD288m

Overview
Price performance
Financials
Research
Thematics

EML Payments is a payment solutions company managing thousands of programmes across 32 countries in Europe, North America and Australia. It provides payment solutions for banking, credit and disbursement services, earned wage access, gifts, incentives and rewards, and open banking and FX.

EML provides payment solutions for banking, credit and disbursement services, earned wage access, gifts, incentives and rewards, and open banking and FX. The company estimates it has a serviceable addressable market worth A$114bn, which is growing at c 7% pa. It estimates it has less than a 0.2% share of this market, providing plenty of scope for growth.

Latest Insights

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TMT |
Update

14.09.23

EML Payments — Turning the ship around

TMT |
Flash note

19.04.23

EML Payments — Shifting focus to solve current challenges

TMT |
Update

14.04.23

EML Payments — Considering its options

TMT |
Update

09.12.22

EML Payments — New three-year plan to transform the business

Sector

TMT

Equity Analyst

Katherine Thompson

Katherine Thompson

Director

Key Management

Jonathan Gatt

Group CFO
Kevin Murphy

Interim CEO

Balance Sheet

Forecast net debt (A$m)

28.7

Forecast gearing ratio (%)

17

Share Price Performance

Price Performance
%	1M	3M	12M
Actual	(30.0)	(21.4)	13.2
Relative	(32.2)	(19.6)	16.3
52 week high/low	A$1.3/A$0.4

Financials

EML Payments reported FY23 revenue and underlying EBITDA ahead of the top-end of its guidance range, benefiting from higher interest income and improvements to customer contracts in H223. The company is making good progress with its short-term priorities, and while the Barrenjoey strategic review is ongoing, management has started taking action to return loss-making activities to profitability and to reinvigorate growth in its core businesses. We have upgraded our forecasts to reflect better-than-expected performance in FY23 and identified cost savings.

Y/E Jun	Revenue (A$m)	EBITDA (A$m)	PBT (A$m)	EPS (fd) (c)	P/E (x)	P/CF (x)
2022A	232.4	34.3	16.0	3.398	22.7	8.6
2023A	254.2	(2.6)	(22.8)	(4.869)	N/A	N/A
2024E	277.8	35.4	13.6	2.833	27.2	8.1
2025E	302.7	56.3	32.9	6.869	11.2	5.1

Research

Update

TMT

07.07.22

EML Payments — Prepaid card contract win in Spain

Update

TMT

03.05.22

EML Payments — Weaker European business drives downgrades

TMT

Flash note

EML Payments — More work to do in Europe

Update

TMT

01.03.22

EML Payments — Improving outlook

Flash note

TMT

26.11.21

EML Payments — Making progress with the Irish regulator

Update

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18.11.21

EML Payments — Reassuring Q1 update

Flash note

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30.09.21

EML Payments — Bringing Sentenial into the fold

Update

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20.08.21

EML Payments — Moving forward

Update

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14.06.21

EML Payments — Update on Q3 trading and regulation

Update

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20.05.21

EML Payments — Irish regulator raises issues

Update

TMT

14.04.21

EML Payments — Open sesame

Update

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19.02.21

EML Payments — Showing the benefits of diversification

edison tv

TMT

17.02.21

EML Payments – executive interview

Initiation

TMT

21.10.20

EML Payments — Storing up value

edison tv

TMT

09.07.20

EML Payments – executive interview

QuickView

TMT

17.06.19

EML Payments — Creating value from stored value

thematic

TMT

25.04.23

MediaWatch – April 2023

Digital Marketing and Internet Media Technology Platform

thematic

TMT

31.01.23

MediaWatch – January 2023

thematic

Consumer

05.10.22

IPO apocalypse

thematic

TMT

10.08.22

ESG, moving beyond the box tick

thematic

TMT

11.05.22

Direct tech investors

thematic

Consumer

24.03.22

Circular economy business models

thematic

TMT

29.09.21

Quantum dots – all the colours of the rainbow

thematic

TMT

09.09.21

Micro-LEDs – small is beautiful

thematic

TMT

16.08.20

Semiconductor winners – European companies with strong positions

thematic

TMT

24.06.20

The small satellite market – Small is beautiful

thematic

TMT

08.04.20

European video games: A safe haven in troubled times

thematic

TMT

27.02.20

Blockchain adoption: Implications for the financial services sector

thematic

Consumer

14.08.19

Illuminator: August Update

thematic

TMT

05.08.19

European video games

thematic

TMT

10.07.19

Diversification and scale for online success

thematic

TMT

08.05.19

5G – Strategic importance, but lacking a near-term commercial driver

thematic

TMT

26.02.19

UK video games – Heterogeneous not homogeneous

thematic

TMT

24.02.17

Mobile ecosystems

thematic

TMT

08.02.17

Mobile ecosystems

thematic

TMT

13.10.15

Mobile ecosystems

thematic

TMT

23.03.15

NZ – Edison talks tech

thematic

TMT

23.03.15

AUS – Edison talks tech

thematic

TMT

18.03.15

Mobile ecosystems

thematic

Consumer

11.11.14

Deutsche Börse Eigenkapitalforum 2014 Research Guide

thematic

TMT

15.10.14

Mobile ecosystems

thematic

Energy & Resources

04.03.14

ASX Spotlight Conference – London, 6 March 2014

thematic

Energy & Resources

01.03.13

ASX Small to Mid Caps Conference – London, 7 March 2013

thematic

TMT

24.09.10

The third pillar

thematic

TMT

10.09.10

The real disruptor

thematic

TMT

27.08.10

Merger mania is back