News

Euronet Worldwide reports Q1 financials

April 25, 2012

Euronet Worldwide announced its first quarter results on April 24. Highlights of the company's earnings report include:

• Revenues of $297.6 million, a 13 percent increase over Q1, 2011
• Operating income of $15.8 million, up 8 percent from 2011
• Adjusted EBITDA of $35.4 million, up 5 percent  from 2011
• Adjusted cash earnings per share 33 cents, compared with 30 cents for Q1, 2011
• 266 million transactions, compared with 206 million for Q1, 2011 

"I am pleased with the double-digit revenue and transaction growth delivered by each of our segments," stated Michael J. Brown, Euronet chairman and CEO. "This revenue and transaction growth was the leading contributor to the double-digit increase in adjusted cash earnings per share. I am excited about the momentum in each segment and feel we are well positioned to continue this growth in the coming quarters."

Euronet's EFT processing segment reported a 12 percent increase, attributable to 41 percent growth in the number of ATMs under management, as well as transaction growth in nearly all EFT markets, sales of value added products, and acquisitions made in the fourth quarter in Poland and Romania, among other factors.

The company's e-pay segment reported a 14 percent increase over 2011, largely the result of last year's cadooz acquisition. Increased volume of prepaid products in the U.S. market, continuing demand for non-mobile content in Germany were other positive factors.

The money transfer segment reported a 13 percent increase over Q1, 2011, as a result of an increase of 26 percent in total transactions, with growth in virtually every corridor. U.S.-based transactions grew 15 percent, with transactions to Mexico growing 17 percent. Transactions originating outside the U.S. increased 12 percent despite tough economic conditions in Europe. 

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