EML Payments (ASX: EML)

Last close As at 17/07/2024

AUD0.96

0.01 (0.52%)

Market capitalisation

AUD359m

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 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 | Flash note

EML Payments — Growth cap lifted in the UK

TMT | Flash note

EML Payments — Sale of Sentenial agreed

TMT | Update

EML Payments — Looking to a brighter future

Sector

TMT

Equity Analyst

Key Management

  • Jonathan Gatt

    Group CFO

  • Kevin Murphy

    NED

  • Ron Hynes

    CEO

Balance Sheet

Forecast net debt (A$m)

11.7

Forecast gearing ratio (%)

6

Share Price Performance

Price Performance
% 1M 3M 12M
Actual 8.5 (4.0) 19.3
Relative 3.8 (9.1) 7.9
52 week high/low A$1.3/A$0.7

Financials

On 14 March, EML Payments agreed to sell Sentenial to GoCardless for an enterprise value of €32.75m/A$54.1m, subject to regulatory approval. On 11 April, EML announced that it had entered into an agreement to settle all the outstanding deferred consideration payments relating to the acquisition of Prepaid Financial Services Group (PFS) for £15.0m/A$28.8m, which represents a £7.9m/A$15.2m discount to the originally agreed amount. This agreement concludes all outstanding actual and potential liabilities relating to the PFS acquisition in 2020. On 23 April, the Financial Conduct Authority lifted the cap on new customers for PFS Limited. These measures substantially strengthen EML’s balance sheet, simplify the group structure and enable the company to focus on profitable growth.

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 28.3 10.7
2023A 254.2 (2.6) (22.8) (4.869) N/A N/A
2024E 262.1 49.7 27.5 5.736 16.7 7.2
2025E 238.0 62.5 41.4 8.610 11.1 5.8

Research

Flash note

TMT

EML Payments — New CEO launches strategic review

Flash note

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EML Payments — More work to do in Europe

Update

TMT

EML Payments — Improving outlook

Update

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EML Payments — Reassuring Q1 update

Flash note

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EML Payments — Bringing Sentenial into the fold

Update

TMT

EML Payments — Moving forward

Update

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EML Payments — Open sesame

edison tv

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EML Payments – executive interview

Initiation

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EML Payments — Storing up value

edison tv

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EML Payments – executive interview

QuickView

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EML Payments — Creating value from stored value

thematic

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MediaWatch – Still waiting…

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MediaWatch – Targeting the opportunities

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MediaWatch – Vision On

Digital Marketing and Internet Media Technology Platform

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MediaWatch – Screening well

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Consumer

IPO apocalypse

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ESG, moving beyond the box tick

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Direct tech investors

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Consumer

Circular economy business models

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Quantum dots – all the colours of the rainbow

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Micro-LEDs – small is beautiful

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Consumer

Illuminator: August Update

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European video games

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Diversification and scale for online success

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UK video games – Heterogeneous not homogeneous

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Mobile ecosystems

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Mobile ecosystems

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Mobile ecosystems

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NZ – Edison talks tech

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AUS – Edison talks tech

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Mobile ecosystems

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Consumer

Deutsche Börse Eigenkapitalforum 2014 Research Guide

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Mobile ecosystems

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Energy & Resources

ASX Spotlight Conference – London, 6 March 2014

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Energy & Resources

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

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The third pillar

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The real disruptor

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Merger mania is back