Slide 1: Fourth Quarter 2024 Earnings Conference Call
Fourth Quarter 2024 Earnings Conference Call February 26, 2025
Slide 2: Forward-looking Statements and Use of Non-GAAP Measures
Forward-looking Statements Certain statements in this earnings release constitute “forward-looking statements” within the meaning of, and subject to the protection of, the Private Securities Litigation Reform Act of 1995. We intend such forward-looking statements to be covered by the safe harbor pro
Slide 3: Business Summary
Business Summary Mac Schuessler, President and CEO
Slide 4: 2024 Financial Highlights
2024 Financial Highlights Total Revenue $845.5 million, 22% increase Adjusted EBITDA $340.2 million, 17% increase Strong Results Adjusted EBITDA margin of 40.2% Adjusted EPS $3.28, 16% increase Delivered operating cash flow of approximately $260 million Cash Flow and Returned approximate
Slide 5: Puerto Rico Update: Key Economic Indicators trending positively
Puerto Rico Update: Key Economic Indicators trending positively Economic Activity Index (EAI) Employment Thousand Individuals +7.0 130 1,200 120 126.4 1,100 1,151 (Dec 2024) 110 1,000 100 900 0 0 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Af
Slide 6: Puerto Rico Update: Federal funds supporting economic growth
Puerto Rico Update: Federal funds supporting economic growth 4.49 Housing 1.53 1.25 Transportation 0.34 2.06 Health & Social Services 0.29 23% 0.63 Natural & Cultural Resources 0.14 7.7 Municipalities 1.68 18.03 Energy 4.50 5.04 Education 0.41 3.76 Public Buildings 1.38 5.44 Water 0.76 Pledged Disbu
Slide 7: LATAM Business Update
LATAM Business Update Revenue grew 62% YoY, driven by the Sinqia acquisition and double digit organic growth Latin America outside of Brazil Segment Results Tuck-in acquisitions completed in the fourth quarter of 2024 also contributed to the strong performance Closed the acquisition of Nubity,
Slide 8: Financial Summary
Financial Summary Joaquin Castrillo, Chief Financial Officer
Slide 9: Consolidated Results Q4 2024 and Full-Year 2024
Consolidated Results Q4 2024 and Full-Year 2024 (in USD mm, except per share) Q4 2024 Y-o-Y % 2024 Y-o-Y % Revenue $216.4 11% $845.5 22% Adjusted EBITDA $88.6 24% $340.2 17% Adj. EBITDA margin 40.9% 410 bps 40.2% -180 bps Adjusted Net Income $56.0 37% $213.2 15% Adjusted EPS $0.87 40% $3.28 16% Re
Slide 10: Merchant Acquiring 2024
Merchant Acquiring 2024 (in USD mm) Q4 2024 Y-o-Y % 2024 Y-o-Y % Revenue $46.6 16% $180.5 11% Adjusted EBITDA $19.9 38% $72.6 19% Adj. EBITDA margin 42.7% 680 bps 40.2% 260 bps Increase in revenue reflects a combination of higher spread and an increase in sales volumes over prior year. Margin be
Slide 11: Payment Services, PR and Caribbean 2024
Payment Services, PR and Caribbean 2024 (in USD mm) Q4 2024 Y-o-Y % 2024 Y-o-Y % Revenue $54.8 4% $214.7 6% Adjusted EBITDA $31.3 2% $121.4 3% Adj. EBITDA margin 57.2% -170 bps 56.5% -170 bps Revenue growth was driven by POS transaction growth as well as the continued strength in ATH Movil Busines
Slide 12: Latin America Payments and Solutions 2024
Latin America Payments and Solutions 2024 (in USD mm) Q4 2024 Y-o-Y % 2024 Y-o-Y % Revenue $77.9 18% $302.8 62% Adjusted EBITDA $25.1 38% $79.7 32% Adj. EBITDA margin 32.3% 460 bps 26.3% -600bps Increase in revenue mainly reflects contribution from acquisition of Sinqia and two tuck-in deals, cont
Slide 13: Business Solutions 2024
Business Solutions 2024 (in USD mm) Q4 2024 Y-o-Y % 2024 Y-o-Y % Revenue $62.4 8% $244.0 8% Adjusted EBITDA $24.4 22% $102.7 18% Adj. EBITDA margin 39.0% 440 bps 42.1% 380 bps Revenue increase was primarily attributed to revenue recognized from projects that went into production throughout the yea
Slide 14: Corporate and Other 2024
Corporate and Other 2024 Q4 2024 Y-o-Y % 2024 Y-o-Y % (in USD mm) Adjusted EBITDA $(12.2) 3% $(36.1) 5% % of Total Revenues 5.6% -50bps 4.3% -60 bps Corporate and Other Adjusted EBITDA as a percentage of total revenues of 5.6%. *See Non-GAAP reconciliation summary in appendix, p.22-23. 14
Slide 15: Roll Forward of 2024 Cash Balance
Roll Forward of 2024 Cash Balance ($ in millions) Operating Activities $260.1 Equity Investments $4.1 ($88.4) Debt Beginning paydowns3 Ending CAPEX ($34.0) Balance1 ($34.5) Balance2 M&A ($22.9) $343.7 Debt paydowns3 Other $314.6 financing4 ($95.2) Repurchases & ($18.3) Dividends Fx impact Mainly dri
Slide 16: Debt Summary
Debt Summary December 31, (in USD mm) 2024 2023 Unrestricted Cash $273.6 $295.6 Total Debt $980.5 $1,002.8 Term A Loan (2027 Maturity) S+200bps 429.6 453.5 Term B Loan (2030 Maturity) S+275bps 540.0 540.0 Revolver ($200M) S+200bps - - Other 10.9 9.4 EVTC Net Debt $706.8 $707.2 Lev. Ratio Net Debt(1)
Slide 17: Outlook 2025
Outlook 2025 (in USD mm, except per share) Low High Total Revenue $889 $899 Growth, %(1) 5.1% 6.3% Growth, % constant currency(2) 5.5% 6.7% GAAP EPS – Diluted $1.93 $2.05 Adjusted EPS $3.34 $3.45 Growth, %(1) 1.8% 5.2% Growth, % constant currency(1) 2.6% 6.0% Capital Expenditures $85 Assumptions: Ad
Slide 18: Q&A
Q&A
Slide 19: Appendix
Appendix
Slide 20: Non-GAAP Reconciliation Summary
Non-GAAP Reconciliation Summary The non-GAAP measures referenced in this earnings release are supplemental measures of the Company’s performance and are not required by, or presented in accordance with, accounting principles generally accepted in the United States of America (“GAAP”). They are not m
Slide 21: Reconciliation of GAAP to Non-GAAP Operating Results
Reconciliation of GAAP to Non-GAAP Operating Results Three months ended December 31, Year ended December 31, (Dollar amounts in thousands, except share data) 2024 2023 2024 2023 Net income $40,667 $11,807 $114,779 $79,876 Income tax expense 1,747 931 4,847 5,477 Interest expense, net 14,323 11,979 6
Slide 22: Reconciliation of Q4 2024 and Q4 2023 Segment Non-GAAP Results
Reconciliation of Q4 2024 and Q4 2023 Segment Non-GAAP Results Quarter ended December 31, 2024 Payment Services - Latin America Puerto Rico & Payments and Merchant Business Total Reportable Corporate and (In thousands) Caribbean Solutions Acquiring, net Solutions Segments Other (1) Total Revenues $
Slide 23: Reconciliation of 2024 and 2023 Segment Non-GAAP Results
Reconciliation of 2024 and 2023 Segment Non-GAAP Results Year ended December 31, 2024 Payment Services - Latin America Puerto Rico & Payments and Merchant Business Total Reportable Corporate and (In thousands) Caribbean Solutions Acquiring, net Solutions Segments Other (1) Total Revenues $ 214,749 $
Slide 24: Outlook Summary and Reconciliation to Non-GAAP Adjusted EPS
Outlook Summary and Reconciliation to Non-GAAP Adjusted Earnings per Share 2024 2025 Outlook Actual (Dollar amounts in millions, except share data) Low High Revenues $889.0 to $899.0 $845 Earnings per Share (EPS) (GAAP) $1.93 to $2.05 $1.73 Per share adjustment to reconcile GAAP EPS to Non-GAAP Adju
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