SafeCharge grew its revenue by 24 per cent last year to US$138.5m (FY2017: $111.7m), driven by new customer wins and expanded relationships with existing customers.
The payments technology company, which opened up new offices in Shenzen and Mexico in 2018, saw growth of 11 per cent in adjusted EBITDA to $37.3m ($33.7m) and enjoyed cash conversion of 84 per cent (2017: 83 per cent), with a balance sheet showing a cash balance of $93.1m and no debt.
Dividends increased by eight per cent to 18.31c per share, compared to 16.89c in 2017.
Operational highlights for 2018 included the growth in value of transactions processed through SafeCharge Acquiring, with 29 per cent of the group's transaction volumes processed through its own acquiring platform during the year. There was also the launch of new customers on SafeCharge’s fully serviced payment solution, including ride sharing firm Gett, online retail platform The Level Group, Danish gaming operator Danske Spil and Italian gaming operator Snai.
David Avgi, CEO of SafeCharge, said: "The year 2018 was another period of strong financial performance and continued growth. We demonstrated excellent performance and successful entry into new markets and verticals. We have continued to innovate, develop and deliver our payment products and technologies, enabling us to deepen our relationships and win new business with large scale customers.
“During 2019, we will continue to invest in building our sales teams to accelerate our entry into new markets, as well as to invest further in innovative products to our customers. We are only at the beginning of our journey. Our highly scalable proprietary Payments Engine has been designed to deliver superior performance translating into a better user experience and increased revenues for our customers."
