Euronet Worldwide, Inc. · NASDAQ:EEFT
Euronet Worldwide — Q4 2024 Earnings Presentation
31 slides from Euronet Worldwide's earnings presentation, Feb 13, 2025
Slide 1: Fourth Quarter and Full Year 2024 Financial Results
Fourth Quarter and Full Year 2024 Financial Results Michael J. Brown | Chairman & CEO Rick L. Weller | EVP & CFO Adam Godderz | General Counsel Euronet | www.euronetworldwide.com 1
Slide 2: Forward Looking Statements
Forward Looking Statements Statements contained in this news release that concern Euronet's or its management's intentions, expectations, or predictions of future performance, are forward-looking statements. Euronet's actual results may vary materially from those anticipated in such forward-looking
Slide 3: Defined Terms
Defined Terms Unless specifically noted otherwise within this presentation, the following terms are hereby defined as follows: Constant currency financial measures are computed as if foreign currency exchange rates did not change from the prior period. This information is provided to illustrate the
Slide 4: Financial Highlights Fourth Quarter 2024
Financial Highlights Fourth Quarter 2024 Rick L. Weller | EVP & CFO Euronet | www.euronetworldwide.com 4 121322-1
Slide 5: Financial Highlights Fourth Quarter 2024
Financial Highlights Fourth Quarter 2024 • Revenue – $1,047.3 million • Adjusted EBITDA - $165.8 million • 9% increase from $957.7 million for Q4 2023 • 12% increase from $147.6 million for Q4 2023 • 10% increase on a constant currency basis • 13% increase on a constant currency basis • Operating In
Slide 6: Q4 2024 Same Quarter Prior Year Comparison As Reported
Financial Highlights Fourth Quarter 2024 Same Quarter Prior Year Comparison AS REPORTED Adjusted Operating USD (in millions) Revenue Adjusted EBITDA Income q4 2023 q4 2024 q4 2023 q4 2024 q4 2023 q4 2024 EFT Processing $ 237.9 $ 265.6 $ 28.0 37.3 $ 52.2 $ 61.7 % Change 12% 33% 18% epay 316.7 342.2 4
Slide 7: Q4 2024 Prior Year Comparison Constant Currency
Financial Highlights Fourth Quarter 2024 Same Quarter Prior Year Comparison – Constant Currency* CONSTANT CURRENCY* Adjusted Operating USD (in millions) Revenue Adjusted EBITDA Income q4 2023 q4 2024* q4 2023 q4 2024* q4 2023 q4 2024* EFT Processing $ 237.9 $ 268.4 $ 28.0 $ 37.7 $ 52.2 $ 62.3 % Chan
Slide 8: Balance Sheet Overview
Financial Highlights Fourth Quarter 2024 Balance Sheet Overview USD 9/30/2024 12/31/2024 (in millions) Unrestricted Cash $ 1,524.1 $ 1,278.8 ATM Cash 805.4 643.8 Settlement Assets 1,461.0 1,522.7 Total Assets 6,289.1 5,834.5 Total Debt 2,278.8 1,949.8 Total Debt to Trailing Twelve Month Adjusted EBI
Slide 9: Financial Highlights Full Year 2024
Financial Highlights Full Year 2024 Rick L. Weller | EVP & CFO Euronet | www.euronetworldwide.com 9 121322-1
Slide 10: Financial Highlights Full Year 2024
Financial Highlights Full Year 2024 • Revenue – $3,989.8 million • Adjusted EBITDA - $678.5 million • 8% increase from $3,688.0 million for 2023 • 10% increase from $618.7 million for 2023 • 9% increase on a constant currency basis • 11% increase on a constant currency basis • Operating Income - $50
Slide 11: Full Year 2024 Prior Year Comparison As Reported
Financial Highlights Full Year 2024 Prior Year Comparison AS REPORTED Adjusted Operating USD (in millions) Revenue Adjusted EBITDA Income 2023 2024 2023 2024 2023 2024 EFT Processing $ 1,058.3 $ 1,161.2 $ 205.8 $ 255.6 $ 300.4 $ 353.5 % Change 10% 24% 18% epay 1,082.4 1,150.5 126.2 129.9 133.1 137.2
Slide 12: Full Year 2024 Prior Year Comparison Constant Currency
Financial Highlights Full Year 2024 Prior Year Comparison – Constant Currency CONSTANT CURRENCY* Adjusted Operating USD (in millions) Revenue Adjusted EBITDA Income 2023 2024* 2023 2024* 2023 2024* EFT Processing $ 1,058.3 $ 1,164.2 $ 205.8 $ 258.1 $ 300.4 $ 356.2 % Change 10% 25% 19% epay 1,082.4 1
Slide 13: Balance Sheet Overview
Financial Highlights Full Year 2024 Balance Sheet Overview USD 12/31/2023 12/31/2024 (in millions) Unrestricted Cash $ 1,254.2 $ 1,278.8 ATM Cash 525.2 643.8 Settlement Assets 1,681.5 1,522.7 Total Assets 5,894.4 5,834.5 Total Debt 1,869.6 1,949.8 Total Debt to Trailing Twelve Month Adjusted EBITDA
Slide 14: Business Update
Business Update Michael J. Brown| Chairman & CEO Euronet | www.euronetworldwide.com 14 121322-1
Slide 15: Our Execution and Ability to Grow
Our Execution and Ability to Grow FROM THEN… • $4B in revenues • 16% growth in operating income • 15% growth in adjusted EPS In millions • $500M in operating income … TO WHEN ? Euronet | www.euronetworldwide.com 15
Slide 16: Revenue Mix
Revenue Mix 2024 2019 Revenue: $2.8 Billion Revenue: $4 Billion Euronet | www.euronetworldwide.com 16
Slide 17: Boston Consulting Group's Disruptions That Are Causing Change
Boston Consulting Group’s Disruptions That Are Causing Change BCG Research Key Areas to Ensure Industry Disruptions Long-Term Growth Euronet’s Investments Macroeconomic pressure is Modernize technology to operate Ren Payments Platform reducing profit margins more efficiently Slowing digital payments
Slide 18: Key pillars drive sustainable growth in large TAMs
Key pillars drive sustainable growth in large TAMs Payment and Transaction Processing Cross Border and Foreign Exchange Use Cases | Consumer and Business Payments Use Cases | Consumer and Business Payments • Payment Processing: Issuing, Acquiring, Real-time • Dynamic Currency Conversion, DAF, Interc
Slide 19: Electronic Funds Transfer (EFT)
Business Segment Electronic Funds Transfer (EFT) Payments and Transaction Processing Cross Border and Foreign Exchange Use Cases | Consumer and Business Payments Use Cases | Consumer and Business Payments • Payment Processing: Issuing, Acquiring, Real-time • Dynamic Currency Conversion, DAF, Interch
Slide 20: epay
Business Segment epay Payments and Transaction Processing Cross Border and Foreign Exchange Use Cases | Consumer and Business Payments Use Cases | Consumer and Business Payments • Payment Processing: Issuing, Acquiring • Third Party Channels: Retailers, websites, and digital wallets • Distribution o
Slide 21: Money Transfer
Business Segment Money Transfer Payments and Transaction Processing Cross Border and Foreign Exchange Use Cases | Consumer and Business Payments Use Cases | Consumer and Business Cross Border Payments with FX • Bill Payments • Our Own Channels for Family Remittance Money • Check Cashing Transfer: St
Slide 22: Summary of Q4 and Full Year 2024
Summary of Q4 and Full Year 2024 • A record consolidated fourth quarter and full year • Key assets and a strategy ready for long-term success • Continued growth of our Merchant Services business • Expansion into new markets • A strategic partnership with PLS Financial Services • Improved profit marg
Slide 23: Appendix
Appendix Euronet | www.euronetworldwide.com 23
Slide 24: Reconciliation of Net Income to Adjusted EBITDA, Q4 2024
Reconciliation of Net Income to Operating Income (Expense), Adjusted Operating Income (Expense) and Adjusted EBITDA (unaudited in millions) Three months ended December 31, 2024 EFT Money Corporate Processing epay Transfer Services Consolidated Net income $ 45.3 Add: Income tax expense 30.6 Add: Tot
Slide 25: Reconciliation of Net Income to Adjusted EBITDA, Q4 2023
Reconciliation of Net Income to Operating Income (Expense), Adjusted Operating Income (Expense) and Adjusted EBITDA (unaudited in millions) EFT Money Corporate Processing epay Transfer Services Consolidated Net income $ 69.5 Add: Income t ax expense 28.4 Less: Tot al other income, net (0.5) Operat i
Slide 26: Reconciliation of Net Income to Adjusted EBITDA, FY2024
Reconciliation of Net Income to Operating Income (Expense), Adjusted Operating Income (Expense) and Adjusted EBITDA (unaudited in millions) Twelve months ended December 31, 2024 EFT Money Corporate Processing epay Transfer Services Consolidated Net income $ 306.3 Add: Income t ax expense 142.6 Add:
Slide 27: Reconciliation of Net Income to Adjusted EBITDA, FY2023
Reconciliation of Net Income to Operating Income (Expense), Adjusted Operating Income (Expense) and Adjusted EBITDA (unaudited in millions) Twelve months ended December 31, 2023 EFT Money Corporate Processing epay Transfer Services Consolidated Net income $ 279.5 Add: Income tax expense 120.9 Add: T
Slide 28: Constant Currency Reconciliation by Segment, Q4 2024
Reconciliation of Revenue, Adjusted Operating income and Adjusted EBITDA to Constant Currency Amounts by Segment (unaudited in millions) Three months ended ended December 31, 2024 EFT Money Corporate Processing epay Transfer Services Consolidated Revenue $ 265.6 $ 342.2 $ 441.9 $ (2.4) $ 1,047.3 Add
Slide 29: Constant Currency Reconciliation by Segment, FY2024
Reconciliation of Revenue, Adjusted Operating income and Adjusted EBITDA to Constant Currency Amounts by Segment (unaudited in millions) Twelve months ended ended December 31, 2024 EFT Money Corporate Processing epay Transfer Services Consolidated Revenue $ 1,161.2 $ 1,150.5 $ 1,686.5 $ (8.4) $ 3,98
Slide 30: Reconciliation of Adjusted Earnings per Share
EURONET WORLDWIDE, INC. Reconciliation of Adjusted Earnings per Share (unaudited - in millions, except share and per share data) Year Ended Three Months Ended December 31, December 31, 2024 2023 2024 2023 Net income at t ributable t o Euronet Worldwide, Inc. $ 306.0 $ 279.7 $ 45.2 $ 69.3 Foreign cur
Slide 31: Thank you
Thank you Euronet | www.euronetworldwide.com 31