Euronet Worldwide, Inc. · NASDAQ:EEFT
Euronet Worldwide — Q3 2024 Earnings Presentation
23 slides from Euronet Worldwide's earnings presentation, Oct 24, 2024
Slide 1: Third Quarter 2024 Financial Results
Third 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 Third Quarter 2024
Financial Highlights Third Quarter 2024 Rick L. Weller | EVP & CFO Euronet | www.euronetworldwide.com 4 121322-1
Slide 5: Financial Highlights Third Quarter 2024
Financial Highlights Third Quarter 2024 • Revenue – $1,099.3 million • Adjusted EBITDA - $225.7 million • 9% increase from $1,004.0 million for Q3 2023 • 6% increase from $212.5 million for Q3 2023 • 9% increase on a constant currency basis • 6% increase on a constant currency basis • Operating Inco
Slide 6: Balance Sheet Overview
Financial Highlights Third Quarter 2024 Balance Sheet Overview USD 6/30/2024 9/30/2024 (in millions) Unrestricted Cash $ 1,271.8 $ 1,524.1 ATM Cash 795.6 805.4 Settlement Assets 1,478.3 1,461.0 Total Assets 6,060.8 6,289.1 Total Debt 2,270.2 2,278.8 Total Debt to Trailing Twelve Month Adjusted EBITD
Slide 7: Same Quarter Prior Year Comparison
Financial Highlights Third Quarter 2024 Same Quarter Prior Year Comparison USD (in millions) Revenue Operating Income Adjusted EBITDA Q3 2023 Q3 2024 Q3 2023 Q3 2024 Q3 2023 Q3 2024 EFT Processing $ 345.8 $ 373.0 $ 104.8 $ 117.3 $ 128.7 $ 142.1 % Change 8% 12% 10% epay 264.5 290.3 28.3 29.1 30.1 31.
Slide 8: Same Quarter Prior Year Comparison – Constant Currency
Financial Highlights Third Quarter 2024 Same Quarter Prior Year Comparison – Constant Currency* USD (in millions) Revenue Operating Income Adjusted EBITDA Q3 2023 Q3 2024* Q3 2023 Q3 2024* Q3 2023 Q3 2024* EFT Processing $ 345.8 $ 371.0 $ 104.8 $ 117.2 $ 128.7 $ 141.8 % Change 7% 12% 10% epay 264.5
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 third quarter Adjusted EPS • Strategic 10-year extension agreement signed with Banco de Mozambique • Further expansion of Merchant Services business • Geographic expansion into new markets • Continued strong growth of our network and branded solutions
Slide 11: ATM cash withdrawals globally have recovered and held steady since the pandemic
ATM cash withdrawal globally have recovered and held steady since the pandemic Cross-border transactions had a more volatile journey, but the data shows that cash remains relevant at home and abroad Euronet | www.euronetworldwide.com 11
Slide 12: EFT Business Segment
Business Segment EFT Key Growth Drivers Signed • 4.600 merchants with POS terminals and 2.500 merchants with SoftPOS • Acquisitions solution for merchant services in Greece • Our Ren Technology Platform • A DCC referral agreement with Cybersource (Visa) as their DCC partner for card-present transact
Slide 13: Ren Technology Solutions
Technology Solutions Ren Ren is a modern enterprise Signed payments platform • Banco de Mozambique, operating the national switch of Mozambique has providing mission critical signed a ten-year extension to continue using Euronet’s Ren suite of software payment solutions to banks, products to manage
Slide 14: epay Business Segment
Business Segment epay Signed Key Growth Drivers • Agreement with Take-Two Interactive to distribute content from Rockstar, 2K Games, and Zynga across the EU covering full games, DLCs, expansion packs, and • epay products and in-game currencies. Take-Two is the publisher of Grand Theft Auto, which is
Slide 15: Money Transfer Business Segment
Business Segment Money Transfer Key Growth Drivers Network Growth • We have the most strategic Our network reaches: network in the world to move • 198 countries and territories money • Reach of 4.1 billion bank accounts and 3.1 billion wallet accounts • Strong value proposition across • 595,000 tota
Slide 16: Dandelion Technology Solutions
Technology Solutions Dandelion Dandelion is the largest real- Signed time, cross-border payment • XTransfer, a leading B2B cross-border trade payment platform serving more platform in the world, than 550K corporate customers enabling payments into bank accounts, cash pick- Launched up locations and
Slide 17: Summary of the Quarter
Summary of the Quarter • A record consolidated third quarter • Continued growth of our Merchant Services business • Expansion into new markets • Stabilization of the use of Cash • A Strategic Partnership with PLS Financial Services • Improved economic and travel trends • Improved profit margins • St
Slide 18: Appendix
Appendix Euronet | www.euronetworldwide.com 18
Slide 19: 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 September 30, 2024 EFT Money Corporate Processing epay Transfer Services Consolidated Net income $ 151.6 Add: Income tax expense 56.8 Less: Total other
Slide 20: Reconciliation of Net Income to Adjusted EBITDA, Q3 2023
EURONET WORLDWIDE, INC. Reconciliation of Net Income to Operating Income (Expense), Operating Income (Expense) and Adjusted EBITDA (unaudited - in millions) Three months ended September 30, 2023 EFT Money Corporate Processing epay Transfer Services Consolidated Net income $ 104.2 Add: Income tax exp
Slide 21: 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 September 30, 2024 EFT Money Corporate Processing epay Transfer Services Consolidated Revenue $ 373.0 $ 290.3 $
Slide 22: 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 September 30, 2024 2023 Net income attributable to Euronet Worldwide, Inc. $ 151.5 $ 104.2 Foreign currency exchange (gain) loss (27.4) 8.8 Intangible a
Slide 23: Thank you
Thank you Euronet | www.euronetworldwide.com 23