Digital payments company Paysafe Group PLC (LON:PAYS) said positive momentum continued into 2016 after a 2015 performance that was slightly ahead of expectations.
The FTSE 250 company, formerly known as Optimal Payments, said the August 2015 acquisition of digital wallet and online payments processor Skrill transformed the business, effectively doubling its size.
The acquisition of Skrill, a full year of contribution from Meritus and GMA (acquired in July 2014), as well as underlying group-wide growth, contributed to a 68% increase in 2015 reported revenue from $365.0mln in 2014 to $613.4mln in 2015.
On a pro-forma constant currency basis revenue was up 13% year-on-year.
Adjusted underlying earnings (EBITDA) jumped 77% to $152.6mln from $86.1mln, helped by the contribution from Skrill.
Profit before tax, however, tumbled to $11.81mln from $58.98mln the year before, reflecting $29.43mln of acquisition costs, up from $11.57mln the year before, plus an increase in depreciation and amortisation to $51.26mln from $20.99mln, while this time round the company also had to recognise $8.24mln of restructuring costs.
Reported net debt at the end of 2015 was $431.3mln.
The company has not recommended the payment of a dividend.
“2015 was another year of continued strong performance across the entire business. The Paysafe team is focused on building on the successes of our operations across all the payment-related needs we serve. We are well positioned for opportunities to consolidate our position as a proven leader and trusted innovator in the payments industry,” said Dennis Jones, chairman of Paysafe.