Ian Strafford-Taylor, CEO & Richard Cooper, CFO of Equals Group discuss their Interim Results
Episode 15, Sep 24, 2020, 01:17 PM
Ian Strafford-Taylor, CEO & Richard Cooper, CFO of Equals Group #EQLS discuss the resilience of their B2B focused model in their interim results and express their confidence about the outlook going forward.
Group revenue up to £13.8 million
| · | B2B revenue increased year-on-year by 32% as the Group continues its focus on SMEs
| · | B2B now represents 66% of total revenue up from 50% in H1-2019 and 60% in H2-2019
| · | Gross profit held firm, lower by only 6% despite disruption caused by Covid-19
| · | Gross expenditure lower by 26% on H2-2019 through cost reduction exercises
| · | Adjusted EBITDA* of £0.7 million
| · | 46% reduction in loss after tax compared to prior six months, resulting from lower capitalisation and fewer exceptionals
| · | House funds £7.6 million as at 18 September 2020 (as reported on 29 June 2020: £7.7 million)
Group revenue up to £13.8 million
| · | B2B revenue increased year-on-year by 32% as the Group continues its focus on SMEs
| · | B2B now represents 66% of total revenue up from 50% in H1-2019 and 60% in H2-2019
| · | Gross profit held firm, lower by only 6% despite disruption caused by Covid-19
| · | Gross expenditure lower by 26% on H2-2019 through cost reduction exercises
| · | Adjusted EBITDA* of £0.7 million
| · | 46% reduction in loss after tax compared to prior six months, resulting from lower capitalisation and fewer exceptionals
| · | House funds £7.6 million as at 18 September 2020 (as reported on 29 June 2020: £7.7 million)
Post period end Highlights
| · | International Payments business resilient to-date in Q3-2020 at £3.8 million (£68k per day) compared to Q2 -2020: £3.5 million - (£58k per day)
| · | Banking Services remain flat, but better than expected
| · | Travel focused product lines continue to be impacted by Covid-19 travel restrictions and lack of consumer confidence
| · | Corporate Expenses platform recovering to pre-Covid-19 levels
| · | Revenue per day £114k in Q3-2020 to date versus £93k per day in Q2-2020
| · | Banking Services remain flat, but better than expected
| · | Travel focused product lines continue to be impacted by Covid-19 travel restrictions and lack of consumer confidence
| · | Corporate Expenses platform recovering to pre-Covid-19 levels
| · | Revenue per day £114k in Q3-2020 to date versus £93k per day in Q2-2020
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