eServGlobal Limited Full Year Trading Update (4245X)

TIDMESG

RNS Number : 4245X

eServGlobal Limited

19 November 2014

eServGlobal Limited (eServGlobal or the "Company")

Full Year Trading Update

Paris: 19 November 2014

eServGlobal (AIM: ESG & ASX: ESV), the provider of end-to-end mobile financial services to emerging markets, provides the following trading update for the year ended 31 October 2014.

The Company expects revenues in its core business to be in the range of 30 - 32 M AUD. A number of larger value contracts closed just after the period end and should positively affect the first quarter of FY2015. The expected EBITDA* will be in the range of 2.5 - 3.5 M AUD and remains in line with broker forecasts reflecting a higher level of profitability due to improved margin mix, tighter cost control and capitalisation of development costs.

eServGlobal has made significant progress over the course of the year. It has announced notable contract wins and partnerships within its core business of providing domestic mobile money solutions to emerging markets. The company has expanded into several new geographies during the year while also growing its presence with its established customer footprint, which includes presence in four Tier-1 operator groups (Zain, Orange, Ooredoo and Vodafone).

The HomeSend joint venture with MasterCard and BICS continues to gather momentum as the international payment hub's remittance volumes are expanded through announced agreements with MoneyGram and Indosat.

* Excludes gain on sale of HomeSend business assets, non-recurring items, foreign exchange gains and losses, share based payments and losses attributable to HomeSend associate.

About eServGlobal

eServGlobal (AIM:ESG, ASX:ESV) offers mobile money solutions which put feature-rich services at the fingertips of users worldwide, covering the full spectrum of mobile financial services, mobile wallet, mobile commerce, recharge, promotions and agent management features. eServGlobal invests heavily in product development, using carrier-grade, next-generation technology and aligning with the requirements of more than 65 customers in over 50 countries.

Together with MasterCard and BICS, eServGlobal is a joint venture partner of the HomeSend global payment hub, a market leading solution based on eServGlobal technology and enabling cross-border money transfer between mobile money accounts, payment cards, bank accounts or cash outlets from anywhere in the world regardless of the users location.

eServGlobal also builds on its extensive experience in the telco domain to offer a comprehensive suite of sophisticated, revenue generating Value-Added Services to engage subscribers in a dynamic manner.

eServGlobal has been a source of innovative solutions for mobile and financial service providers for 30 years.

For further information, please contact:

 
 eServGlobal                                    www.eservglobal.com 
 Alison Cheek, Communications Manager           T: [phone] 
 Canaccord Genuity Limited (Nomad and Broker)   www.canaccordgenuity.com 
  Simon Bridges / Cameron Duncan / Brendan       T: [phone] 
  Gulston 
 Charles Stanley Securities                     www.csysecurities.com 
  Dugald Carlean / Paul Brotherhood              T: [phone] 
 Newgate Threadneedle                           www.newgatethreadneedle.com 
  Hilary Buchanan / Jasper Randall               T: [phone] 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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