QUOTE AND NEWS
Motley Fool  Apr 28  Comment 
The first quarter of 2016 proved that the payment and money transfer provider's core strategies of network expansion and acquisitions are yielding tangible results.
Benzinga  Apr 12  Comment 
Euronet Worldwide, Inc. (NASDAQ: EEFT) said it would announce its financial results for the first quarter on April 27 before the market opens. It would hold a conference call on the same day at 9:00 a.m. Eastern Time to discuss the financial...
Motley Fool  Feb 17  Comment 
The global payments and money transfer company benefited from recent acquisitions during the fourth quarter of 2015. But it also reaped the advantages of increasing its international footprint.
Motley Fool  Feb 10  Comment 
The company narrowly missed the consensus estimate on earnings, but revenue came in very short of expectations.
Benzinga  Dec 23  Comment 
Brean Capital upgraded Finish Line Inc (NASDAQ: FINL) from Hold to Buy. The price target for Finish Line has been raised from $22 to $23. Finish Line shares closed at $18.39 on Tuesday. Argus Research upgraded Sun Life Financial Inc (NYSE: SLF)...




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Euronet Worldwide processes payment transactions on global ATMs and point of sale (POS) networks. Three main businesses are 1) prepaid phones, 2) Electronic Funds Transfer (EFT), cash transfer through Ria Financial , (Subsidiary ) of Euronet Worldwide which is growing very fact by providing best service, and 3) Software. The company also services credit/debit card outsourcing and related businesses. The company operates 26 offices in the US, Europe, Middle East and Asia Pacific regions.

  • Prepaid phones are actually the most common way to pay for phone service in the world. Only in America do parents routinely give a child a cell phone and pay after the damage has been done.
  • EFT occurs a few ways. ATMs that the company manages. Also money transfer, e.g. if an immigrant wants to wire money back to family located in another place. Another frequent transaction involves processing a credit/debit card transaction, getting funds to the merchant from the buyer's account.

Started in 1994 with the mission "to bring electronic payment convenience to millions of people." The company has grown internally and via acquisition. At the end of 2006 annual revenues were $630 million. The company turned EBITDA positive in 2001 and generated $89 million of adjusted EBITDA in 2006.

The company invested $6 million to expand in three main categories:

  • New markets, including China, Bulgaria, and Ukraine
  • Money transfer, further competing with Western Union Company (WU)
  • Card processing products

Growth

Transactions processed in millions

  • 02 79.2
  • 03 216.8
  • 04 461.1
  • 05 709.6
  • 06 921.7

On a recent conference call, EEFT stated they are on a $1 billion annual run rate.

In 2006 the company added 450 ATMs in India.

A Retail Banking Research Report forecasts China will install 65,000 ATM machines between 2005 and 2011. EEFT completed a pilot project for the China Post Bank.

Retail Banking Research reports also state that the central European ATMs increase by 26% in 2005. EEFT has expanded into Ukraine and Bulgaria as banks expand retail offerings.

Segment Breakdown

By Revenue in 2006:

  • Prepaid is 75% of sales
  • EFT is was 21% of sales
  • Software was 7% of sales

By adjusted EBITDA in 2006:

  • Prepaid was 49%
  • EFT was 45%
  • Software was 6%


Accolades

Fortune Magazine ranked EEFT the 36th fastest growing company in 2006 and 34th in 2005

Forbes magazine ranked EEFT the 25th fastest growing company in 2007.

References

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