Equals Share Discussion Threads

[apad] 24/9/2023 13:45

Thanks for the link, folks. IST is impressive. I hadn't picked up the 22 vacancies before.

apad

[masurenguy] 24/9/2023 13:20

To save wasting time, the Sky Business News interview with Ian Strafford-Taylor starts at 21.04m.

[jias] 24/9/2023 13:02

Thanks for posting that link missmimz. Certainly helps raise the profile of equals and shows that it is becoming a significant company in the fintech world. Can only be good for all shareholders.

[missmimz] 23/9/2023 14:50

Hadn't realised (or missed it) Ian had a slot on Sky Business on day of record interims HERE FROM 21:00 if anyone interested.

[66fingers] 22/9/2023 18:18

Thanks for sharing owenski

[owenski] 22/9/2023 08:58

Commentary on EQLS from Paul Hill @ 50:45

[intoodeep] 21/9/2023 14:58

Key takeaway from that brief note is this, makes CSFS look very cheap IMO

"CSFS is trading on 1.1x sales in FY23F dropping to 0.8x in FY24F."

[intoodeep] 21/9/2023 14:57

FYI FWIW

Disposal of another non-trading subsidiary

Summary.

Cornerstone FS (CSFS), the UK-based fast-growing FX and payments provider, announced yesterday after close-of-market entry into a share purchase agreement for the sale of its non-trading subsidiary, Capital Currencies, for a cash consideration of £150k. Disposal proceeds will strengthen Cornerstone’s cash position and provide more growth firepower, whilst it will not affect underlying profitability for the year ending 31 Dec 2023 – at the interims on 12 September Cornerstone increased guidance for a maiden positive adjusted EBITDA. Against prevailing consensus, CSFS is trading on 1.1x sales in FY23F dropping to 0.8x in FY24F. We expect to initiate formal coverage on Cornerstone shortly. HOUSE STOCK.

Realising value from the estate.

Cornerstone acquired Capital Currencies in Feb 2022 to accelerate its strategic transition away from white labelling to selling direct to UK-based SMEs. All of the acquired business’s clients and staff have since transferred to Cornerstone such that Capital Currencies ceased to be trading entity in Nov 2022, its API licence superfluous now to Cornerstone whose core platform enjoys more extensive regulatory permissions. Following the transaction, Cornerstone will have rationalised its footprint to a single e-money licence. Like the disposal of Avila House in Apr 2023, we think this transaction demonstrates both the market value of the emoney licences Cornerstone has procured and the company’s ability to realise shareholder value from M&A. Cornerstone will receive the £150k of cash from disposal proceeds once the transaction completes. Neither buyer nor completion have been specified though the buyer is not a competing business.

Equities Research Trading Comments General Financials 21 September 2023

This material is considered to be a marketing communication and accordingly it has not been prepared in accordance with legal requirements designed to promote the independence of investment research nor is it subject to any prohibition on dealing ahead of the dissemination of investment research. This material is issuer-sponsored and has been prepared pursuant to an agreement between Shore Capital and the issuer in relation to the production of research.

Research analyst Vivek Raja 0781 636 1775 [e-mail]

[thomas11] 19/9/2023 23:29

Qs99 - only information on scalability for CSFS is from their IPO document, they have based their infrastructure on AWS, the same architecture as EQLS. Good Luck

[ashleyjv] 19/9/2023 17:29

Schroders PLC hoovering up some stock

[qs99] 19/9/2023 16:20

Interesting Thomas11, not solely "off topic" Cornerstone looks interesting only if it has truly scalable tech. Will look at more closely. Thnks

[thomas11] 19/9/2023 13:44

Offtopic,

People have mentioned Argentex and Wise as a comparison on here , I would mention that Cornerstons FS (CSFS) is a micro Equals now being run by the ex EQUALS CCO. They are withdrawing from the white label business (more potential business for Equals) and focusing on direct to client.

I believe they have now turned a corner and the share price should re-rate over the next 12 months. DYOR etc etc

Listening to the investor presentations of Argentex, Equals and Cornerstone there is definitely a lot of changes and opportunity in the payments business over the next few years taking business from the banks. All 3 of these companies are growing at an astonishing rate, time to fill your boots as they say.

[its the oxman] 19/9/2023 01:17

120p plus coming soon.

[swiss paul] 18/9/2023 17:38

If anyone is doing Mello tonight can you ask EQLS if they have an AI strategy?
thanks

[davidosh] 18/9/2023 15:55

We have a great Mello Monday lined up tonight

Just to let shareholders and prospective investors know that Equals Group will be discussed on the Mello BASH (Buy, Avoid, Sell, Hold) with a panel of analysts and professional investors during the MelloMonday webinar at 5pm on Monday 18th September 2023.

Zoo Digital and Belvoir will also be analysed.

There will be over 300 investors attending and these are very popular shows with company presentations, fund manager and investor interviews, and panel sessions.

Tickets are still available and if you would like one at half price then enter the code MMTADVFN50.

For more information, click here:

Mello Events have many events coming up over the next few months, check them out here:

You can get 70% off their Oct- Nov 2023, giving you access to all events until the end of October (at least 9), as well as the archive events and exclusive partner discounts! Use code NOVAP70

[qs99] 17/9/2023 08:19

Nice, thanks!

[masurenguy] 17/9/2023 07:27

Main points summarised.

Equals Group could pay you more than holiday cash

The firm is making money, expanding fast and expects to start paying dividends by the end of this year. The shares are £1.16 and should rise materially, as chief executive Ian Strafford-Taylor develops the business, adds customers and moves into new parts of the world.

Traditional banks are often bogged down with legacy systems so transferring and receiving money from one country to another through them can be cumbersome and costly. Strafford-Taylor was determined to offer top service and excellent value, with better exchange rates, swift payments and expert advice when needed. Customers can do business in more than 100 currencies, opening secure accounts and completing transactions in minutes. Payment cards are available too. These cards can carry limits to ensure staff do not overspend on overseas trips. About 150,000 consumers still use FairFX cards but the firm is seeing most growth on the business front, attracting more than 30,000 firms in every line of work. Larger companies are also seeing the value in Equals’ offer. About 150 big businesses have signed up for at least one service and the numbers are rising rapidly.

Interim figures last week showed a 43% surge in turnover to £45m to the end of June compared with the same period in 2022, with pre-tax profits soaring from £900,000 to £5.8m. Prospects are good so that Strafford-Taylor plans to pay a 1.5p maiden dividend for 2023, rising steadily thereafter. Brokers expect annual profits of £19.5m, up 65% year-on-year, and rising to £23m in 2024, with a 2p dividend.

MIDAS VERDICT: Equals Group is a cutting-edge financial technology firm that is expanding, profitable and about to pay dividends. At £1.16, the shares should deliver long-term growth.

[boozey] 17/9/2023 06:59

Another buy recommendation this time in the Mail on Sunday:

[qs99] 16/9/2023 07:18

Masurenguy, I would agree with Sharescope, banks can still make decisions and someone will be sitting up and paying attention to EQUALS IMO given its progress and massive scalability. DYOR, but it is an "added" attraction to the stock.

[swiss paul] 15/9/2023 17:01

Down Day - pocket the cash for the weekend :-)

[slogsweep] 15/9/2023 13:16

12:13 and all the days 'sells' mopped up in one go.

[alter ego] 15/9/2023 10:49

Big businesses are only interested in the bottom line. An entrepreneurial business will not retain its staff unless they can make their own decisions without layers of bureaucracy.

[apad] 15/9/2023 10:09

It's a rational argument that has been around for a long time. I suspect that big banks aren't that rational. A friend with experience says that you deal with a committee that you think has decision making powers only to find that it passes the decision to the next committee up the chain - ad infinitum.
Also the big banks are milking their smaller business customers who have inertia and its a big market to share.
I'm not holding my breath for a takeover, but I reckon there is plenty of room for growth.
apad

[masurenguy] 15/9/2023 00:45

This Sharescope comment reflects the view that I have had on this company for some time now.

"Equals look attractive for M&A activity from the more traditional bank looking to save building their own sub-arm, which will be both costly, and time-consuming – it is much easier to buy a ready-made suitor that has all the components established and looks attractive from a cash generation perspective. This makes Equals an attractive proposition, but not the only factor to consider. The company’s SME-focused Equals Money is an attractive platform because it features best-in-class bank-grade connectivity technology that sets the company apart from other disruptors in the sector. It grants access to expert support for payments and expenses for clients."