Eurowag Trading Update (5565Y)
17 Janvier 2022 - 08:00AM
UK Regulatory
TIDMWPS
RNS Number : 5565Y
Eurowag
17 January 2022
17 January 2022
EUROWAG
Trading Update
DELIVERING GROWTH IN LINE WITH IPO GUIDANCE
W.A.G payment solutions plc ("Eurowag", or the "Group") a
leading pan-European integrated payments & mobility platform
focused on the Commercial Road Transportation industry ("CRT"), is
pleased to announce an unaudited trading update for the period
ending 31 December 2021.
Strong revenue and profit growth in 2021
Trading has remained strong during the fourth quarter and the
Group expects to deliver FY21 net revenue of at least EUR152
million. This represents a growth rate of approximately 18% against
the previous year, demonstrating continued delivery of the growth
strategy set out at IPO.
This revenue growth has been supported by strong non-financial
KPI performance:
-- Number of payment solutions active customers rose from 13,180
to approximately 15,000, representing 14% YoY growth
-- Number of payment solutions active trucks rose from 72,884 to
approximately 82,500, representing 13% YoY growth
The Group expects adjusted EBITDA to be in line with
expectations, driven by the strength of revenue growth and
operational gearing.
Accretive M&A driving further growth
Additionally, the Group has received clearance from the
Hungarian Competition Authority and from the Romanian Competition
Council for the Webeye acquisition, and expects to receive
clearance from the Ministry of Innovation and Technology and from
the Ministry of Interior in Hungary in Q1 2022. As Webeye has
57,000 connected trucks using their Fleet Management Solutions,
this acquisition will significantly expand the Group's customer
base, offering a number of new cross-sell opportunities with
WebEye's customers gaining access to Eurowag's unrivalled range of
integrated end-to-end payment and mobility solutions.
Reaffirmed guidance with positive outlook
Based on the strength of FY21 performance, and the Group's
outlook, the Board reaffirms its guidance of annual organic net
revenue growth between high-teens and low-twenties and Adjusted
EBITDA margin trending from mid-forties into the high-forties over
the medium-term.
Martin Vohánka, CEO and Founder said :
"We delivered strong organic growth in 2021 and enter 2022 with
clear momentum, and confidence in the business, notwithstanding the
uncertain operating environment. Eurowag has built a large payments
acceptance network in Europe integrated with complementary mobility
services putting it at the forefront of digital transformation of
the Commercial Road Transportation industry. I am incredibly
excited about the future, as we continue to increase the number of
products and services we offer our customers, we will deliver on
our vision for every independent CRT company to have access to all
the benefits of digitalisation at scale, before, during and after
every journey."
Magdalena Barto ś, CFO said:
"I am extremely pleased with our achievements as a Company over
the course of 2021. As well as successfully listing the business on
the LSE, we have delivered strong financial performance in line
with our guidance at IPO, proved the resilience of the business,
and announced our first acquisition as a public company."
Final 2021 audited results for the Group are expected to be
published in late March 2022.
ENQUIRIES
Eurowag
Tomáš Novotný (Head of Investor Relations)
investors@eurowag.com
Michal Malysa (Head of Group Communications)
michal.malysa@eurowag.com
+420 775 70 80 86
About Eurowag
Eurowag was founded in 1995 and is a leading pan-European
integrated payments & mobility platform focused on the
commercial road transportation industry. Eurowag's innovative
solutions makes life simpler for small and medium businesses in the
Commercial Road Transportation industry across Europe through its
unique combination of payments solutions, seamless technology, a
data-driven digital eco-system and high-quality customer service.
www.eurowag.com
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END
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