equals (AIM: EQLS), file financial technology
financial technology
Financial technology (fintech) is defined as a technology geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for famous financial institutions. However, it has since grown out of the business segment with an increased focus on consumer services.
Financial technology (fintech) is defined as a technology geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for famous financial institutions. However, it has since grown out of the business segment with an increased focus on consumer services.
Read this term The company released two important updates today (Wednesday). The first information indicates that the acquisition of Oonex SA, a full-service payment organization, has been completed. The second update summarized trading results for the first half of 2023. The first half proved to be a record period for Equals, as the company’s revenue increased by 43%.
According to the January-June 2023 trading update, Equals revenue was £45.0m, up significantly from the £31.4m reported in the same period last year. Revenue also increased compared to the previous half-year (21%), from £38.3m.
The report shows that Equals achieved positive growth across all major segments of its operations. The strongest performance was observed in the ‘Solutions’ sector, which was up 116% compared to the first half of 2022, reaching £13.6m, and up 46% compared to the second half of 2022.
“We are very pleased to be able to report half-year revenues for 2023 that exceed those posted for the full year in 2021. Getting this far in such a short period of time is testament to the incredible effort of everyone we work for.” The Equals Group,” Ian Strafford Taylor, CEO of Equals, commented in the trading update.
#EQLS@employee It reported a strong H1 2013 update with revenue +43% to £45m (£363k pd). GP margin is now over 50%. The outlook is positive with full year expectations at least “in line” and first half results due on September 12th. #tradingupdate# invest#growthpic.twitter.com/XzMgV1jKkE
– Development of property rights (equity_research) July 5, 2023
The average daily revenue of the company in the first half of this year was 363 thousand pounds sterling, an increase of 42% over 255 thousand pounds sterling last year. Management confirms that the financial results are in line with expectations for fiscal year 2023. Furthermore, EBITDA margins are expected to be 20%, even after acquisition
acquisition
Acquisition means acquiring, possessing, or securing property, services, or capabilities. Simply put, it is the act or process of acquiring or gaining. You can get a job of art, you can acquire a skill like speaking another language, you can get a job or shares in a company and you can get the service of an accountant. For example, you can get a new car. In a broad sense, acquisition can mean the act of acquiring ownership or possession of something. there
Acquisition means acquiring, possessing, or securing property, services, or capabilities. Simply put, it is the act or process of acquiring or gaining. You can get a job of art, you can acquire a skill like speaking another language, you can get a job or shares in a company and you can get the service of an accountant. For example, you can get a new car. In a broad sense, acquisition can mean the act of acquiring ownership or possession of something. there
Read this term from Oonex.
In reaction to news of the financial results and the Oonex acquisition, Equals shares today rose more than 3% to £99.0, with an annual gain of nearly 11%.
Source: Yahoo! finance
Equals completes acquisition of Oonex
Before the trading update was published, the company issued a regulatory filing on the completion of the acquisition of Oonex SA. The National Bank of Belgium (NBB) confirmed that it had no objections to the transaction, which closed on July 4, 2023.
The acquisition is being paid for by an initial issuance of 3,938,294 ordinary shares of one penny each in Equals Group plc. Additional payments of 61,706 and up to 1,000,000 shares (subject to certain conditions) will be issued over the next six months.
Strafford-Taylor added, “We are delighted that NBB has confirmed that it has no objections to a change of control of Oonex, so we can now start growing the business in Brussels as well as integrating it into the Equals technology platform.” Oonex sees it as a huge opportunity for Equals.
The acquisition of Oonex and its regulatory licenses and banking relationships enable Equals to introduce its payments to new European markets. Oonex’s ability to issue local IBANs in the Eurozone significantly expands the addressable market for the Group’s platform and products.
For Equals, it is another acquisition after Roqqett Limited’s purchase of open banking services for £2.25m in November 2022.
equals (AIM: EQLS), file financial technology
financial technology
Financial technology (fintech) is defined as a technology geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for famous financial institutions. However, it has since grown out of the business segment with an increased focus on consumer services.
Financial technology (fintech) is defined as a technology geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for famous financial institutions. However, it has since grown out of the business segment with an increased focus on consumer services.
Read this term The company released two important updates today (Wednesday). The first information indicates that the acquisition of Oonex SA, a full-service payment organization, has been completed. The second update summarizes trading results for the first half of 2023. The first half proved to be a record period for Equals, as the company’s revenue increased by 43%.
According to the January-June 2023 trading update, Equals revenue was £45.0m, up significantly from the £31.4m reported in the same period last year. Revenue also increased compared to the previous half-year (21%), from £38.3m.
The report shows that Equals achieved positive growth across all major segments of its operations. The strongest performance was observed in the ‘Solutions’ sector, which was up 116% compared to the first half of 2022, reaching £13.6m, and up 46% compared to the second half of 2022.
“We are very pleased to be able to report half-year revenues for 2023 that exceed those posted for the full year in 2021. Getting this far in such a short period of time is testament to the incredible effort of everyone we work for.” The Equals Group,” Ian Strafford Taylor, CEO of Equals, commented in the trading update.
#EQLS@employee It reported a strong H1 2013 update with revenue +43% to £45m (£363k pd). GP margin is now over 50%. The outlook is positive with full year expectations at least “in line” and first half results due on September 12th. #tradingupdate# invest#growthpic.twitter.com/XzMgV1jKkE
– Development of property rights (equity_research) July 5, 2023
The average daily revenue of the company in the first half of this year was 363 thousand pounds sterling, an increase of 42% over 255 thousand pounds sterling last year. Management confirms that the financial results are in line with expectations for fiscal year 2023. Furthermore, EBITDA margins are expected to be 20%, even after acquisition
acquisition
Acquisition means acquiring, possessing, or securing property, services, or capabilities. Simply put, it is the act or process of acquiring or gaining. You can get a job of art, you can acquire a skill like speaking another language, you can get a job or shares in a company and you can get the service of an accountant. For example, you can get a new car. In a broad sense, acquisition can mean the act of acquiring ownership or possession of something. there
Acquisition means acquiring, possessing, or securing property, services, or capabilities. Simply put, it is the act or process of acquiring or gaining. You can get a job of art, you can acquire a skill like speaking another language, you can get a job or shares in a company and you can get the service of an accountant. For example, you can get a new car. In a broad sense, acquisition can mean the act of acquiring ownership or possession of something. there
Read this term from Oonex.
In reaction to news of the financial results and the Oonex acquisition, Equals shares today rose more than 3% to £99.0, with an annual gain of nearly 11%.
Source: Yahoo! finance
Equals completes acquisition of Oonex
Before the trading update was published, the company issued a regulatory filing on the completion of the acquisition of Oonex SA. The National Bank of Belgium (NBB) confirmed that it had no objections to the transaction, which closed on July 4, 2023.
The acquisition is being paid for by an initial issuance of 3,938,294 ordinary shares of one penny each in Equals Group plc. Additional payments of 61,706 and up to 1,000,000 shares (subject to certain conditions) will be issued over the next six months.
Strafford-Taylor added, “We are delighted that NBB has confirmed that it has no objections to a change of control of Oonex, so we can now start growing the business in Brussels as well as integrating it into the Equals technology platform.” Oonex sees it as a huge opportunity for Equals.
The acquisition of Oonex and its regulatory licenses and banking relationships enable Equals to introduce its payments to new European markets. Oonex’s ability to issue local IBANs in the Eurozone significantly expands the addressable market for the Group’s platform and products.
For Equals, it is another acquisition after Roqqett Limited’s purchase of open banking services for £2.25m in November 2022.