Euronet Worldwide, Inc. · NASDAQ:EEFT
Euronet Worldwide — Q2 2024 Earnings Presentation
22 slides from Euronet Worldwide's earnings presentation, Jul 19, 2024
Slide 1: Second Quarter 2024 Financial Results
Second Quarter 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 measures are computed as if foreign currency exchange rates did not change from the prior period. This information is provided to illustrate the impact of
Slide 4: Financial Highlights Second Quarter 2024
Financial Highlights Second Quarter 2024 Rick L. Weller | EVP & CFO Euronet | www.euronetworldwide.com 4 121322-1
Slide 5: Financial Highlights Second Quarter 2024
Financial Highlights Second Quarter 2024 • Revenue – $986.2 million • Adjusted EBITDA - $178.2 million • 5% increase from $939.1 million for Q2 2023 • 7% increase from $165.8 million for Q2 2023 • 6% increase on a constant currency basis • 10% increase on a constant currency basis • Operating Income
Slide 6: Balance Sheet Overview
Financial Highlights Second Quarter 2024 Balance Sheet Overview USD 3/31/2024 6/30/2024 (in millions) Unrestricted Cash $ 1,236.2 $ 1,271.8 ATM Cash 599.7 795.6 Settlement Assets 1,413.5 1,478.3 Total Assets 5,693.6 6,060.8 Total Debt 1,938.1 2,270.2 Total Debt to Trailing Twelve Month Adjusted EBIT
Slide 7: Same Quarter Prior Year Comparison
Financial Highlights Second Quarter 2024 Same Quarter Prior Year Comparison Adjusted Operating USD (in millions) Revenue Adjusted EBITDA Income Q2 2023 Q2 2024 Q2 2023 Q2 2024 Q2 2023 Q2 2024 EFT Processing $ 282.4 $ 305.4 $ 66.1 $ 79.9 $ 89.9 $ 105.0 % Change 8% 21% 17% epay 263.8 260.9 26.8 26.2 2
Slide 8: Same Quarter Prior Year Comparison – Constant Currency
Financial Highlights Second Quarter 2024 Same Quarter Prior Year Comparison – Constant Currency* Adjusted Operating USD (in millions) Revenue Adjusted EBITDA Income Q2 2023 Q2 2024* Q2 2023 Q2 2024* Q2 2023 Q2 2024* EFT Processing $ 282.4 $ 309.8 $ 66.1 $ 82.0 $ 89.9 $ 107.5 % Change 10% 24% 20% epa
Slide 9: Business Update
Business Update Michael J. Brown| Chairman & CEO Euronet | www.euronetworldwide.com 9 121322-1
Slide 10: Expansion Strategies Deliver Results
Expansion Strategies Deliver Results • A record second quarter Adjusted EPS • Strategic acquisition of MEPS 800 ATM network in Malysia • Further expansion of Merchant Services business • Geographic expansion into new markets • Continued strong growth of our network and branded solutions • Growth of
Slide 11: EFT Business Segment
Business Segment EFT Key Growth Drivers New Countries entered • Launched our Independent ATM Network (IAD) in Albania • Our Ren Technology Platform Signed • Launch of new countries • ATM Outsourcing agreement with Alior Bank, Poland for 120 Recyclers • Merchant Services Greece: signed 11.6K merchant
Slide 12: Ren Technology Solutions
Technology Solutions Ren Signed Ren is a modern enterprise • Software license agreement for card management system with ICICI payments platform Bank, India’s 3rd largest privately owned bank providing mission critical • Payment Processing agreement with Brazil’s Onnipro, which is service provider fo
Slide 13: epay Business Segment
Business Segment epay Signed Key Growth Drivers • Agreement to issue Google Workspace on the epay • epay products and Conductor platform to be sold in online and physical solutions retailers • Digital channel growth • Agreement to provide our retail network to Transport • Geographic expansion Canber
Slide 14: Money Transfer Business Segment
Business Segment Money Transfer Network Growth Key Growth Drivers • 198 countries and territories • The world’s most strategic network • 4.1 billion bank accounts and 2 billion wallet accounts to move money for consumers & • 586,000 total locations, a 10% increase vs. Q2 2023 businesses • Expanding
Slide 15: Dandelion Technology Solutions
Technology Solutions Dandelion Dandelion is the largest real- Existing clients continue to expand their use of Dandelion rails, including HSBC which time, cross-border payment grew transactions by 170% vs. Q1 ’24 platform in the world, enabling payments into bank accounts, Signed cash pick-up locati
Slide 16: Summary of the Quarter
Summary of the Quarter • A record second quarter in adjusted EPS • Continued growth of our Merchant Services business • Expansion into new markets • Completion of the MEPS ATM acquisition • Improved economic and travel trends • Improved profit margins • Strong growth of our network and solutions • A
Slide 17: Appendix
Appendix Euronet | www.euronetworldwide.com 17
Slide 18: Reconciliation of Net Income to Operating Income and Adjusted EBITDA
EURONET WORLDWIDE, INC. Reconciliation of Net Income to Operating Income (Expense) and Adjusted EBITDA (unaudited - in millions) Three months ended June 30, 2024 EFT Money Corporate Processing epay Transfer Services Consolidated Net income $ 83.2 Add: Income tax expense 39.2 Add: Tot al other expens
Slide 19: Reconciliation of Net Income to Adjusted Operating Income and Adjusted EBITDA
EURONET WORLDWIDE, INC. Reconciliation of Net Income to Operating Income (Expense), Adjusted Operating Income (Expense) and Adjusted EBITDA (unaudited - in millions) Three months ended June 30, 2023 EFT Money Corporate Processing epay Transfer Services Consolidated Net income $ 86.0 Add: Income tax
Slide 20: Reconciliation to Constant Currency Amounts by Segment
EURONET WORLDWIDE, INC. Reconciliation of Revenue, Operating (Expense) Income and Adjusted EBITDA to Constant Currency Amounts by Segment (unaudited - in millions) Three months ended ended June 30, 2024 EFT Money Corporate Processing epay Transfer Services Consolidated Revenue $ 305.4 $ 260.9 $ 421.
Slide 21: Reconciliation of Adjusted Earnings per Share
EURONET WORLDWIDE, INC. Reconciliation of Adjusted Earnings per Share (unaudited - in millions, except share and per share data) Three Months Ended June 30, 2024 2023 Net income att ribut able t o Euronet Worldwide, Inc. $ 83.1 $ 86.1 Foreign currency exchange gain (1.5) (6.3) Intangible asset amort
Slide 22: Thank you
Thank you Euronet | www.euronetworldwide.com 22