ISX Financial Stock Market Press Releases and Company Profile
ISX Financial EU Plc - Q4 2021 Update
ISX Financial EU Plc - Q4 2021 Update

Melbourne, Feb 9, 2022 AEST (ABN Newswire) - I am pleased to present the ISX Financial EU Plc (unaudited) results for 2021 as part of our Quarterly Update process.

In 2021 the group saw receipts from customers increase 6.8% to EUR22.6 million, as Group focused on diversifying its revenue away from card acquiring, towards lower cost SEPA instant and batched interbank payments, in turn creating a multi-rail ecosystem centred on our flykk(R) service.

ISX Financial EU Plc is projected to return a Net Profit After Tax (NPAT) in the order of EUR1.4m, based upon an EBITDA in excess of EUR5.4m.

In 4Q21 the business continued to see a shift in volumes towards SEPA instant and batched interbank payments network (SCT, payments per the graph), with total SEPA volumes up 23% versus 3Q21 and up 83% versus 4Q20.

This growth has been driven by customer preferences, with customer preferring instant and batched SEPA interbank payments over cards, due to

- Lower cost versus a credit card payment

- SIIN notification, so Merchants can be certain they have received the funds

- No chargebacks

- Consumer payment preferences skewing away from cards

- flykk(R) ecosystem

The Group continues to focus its growth in regulated online gaming, with Entain Group and William Hill entering into further agreements for additional services, which are expected to contribute to the bottom line by mid 2022.

Card acquiring volumes in the quarter were up 18% versus 3Q21, but remained lower than 4Q20 down (18%).

flykk(R) volumes in the quarter remained strong, as we continue to see growing interest in the flykk(R) product from merchants.

In 2021 net cash generated in operating activity increased 15% to EUR5.8million, due to increased revenues. Cash and cash equivalents at the end of the year was EUR5.2 million, down from EUR8.5 million in 2020 mainly due to financing activities, including repayment of intercompany debt and payment of dividends to its prior parent company during the period.

I expect that growth during 2022 will continue at a steady pace, whilst allowing the company to expand into other sectors/geographies and also maintaining profitability.

N. Karantzis
Managing Director & CEO
ISX Financial EU Plc

ISX Financial EU Plc ("ISX Plc") Group operating subsidiaries include ISX Financial UK Ltd, ISX Financial EU PLC (CY), Probanx Solutions Ltd (CY) & UAB Probanx Solutions (LT), UAB Authenticator (LT), ISX Technologies Inc (USA). ISX Financial UK Ltd, trading as Flykk, ISX Money and ISXPay, is a FCA UK Authorised eMoney Institution FRN 901034. ISX Financial EU PLC, trading as Flykk, ISX Money and ISXPay, is authorised by the Central Bank of Cyprus # 115.1.3.17 as an E.E.A Monetary Financial Institution and UK FCA FRN 900871.

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About ISX Financial

ISX Financial

ISX Financial EU PLC is a 'banktech' company that leverages its own technology to provide financial services to merchants across the EEA & UK.  The company's combined payments stack and infrastructure provides a complete end-to-end transactional banking, FX, remittance and payment processing capability. 

ISXMoney's multi-Currency IBAN accounts coupled with PaidBy Bank instant open banking provide merchants with a tailored payment solution to reach any UK or EEA bank account holders.

ISX Financial's consumer product "flykk" is a digital wallet that combines all its financial technology and infrastructure to create a retail product. flykk(R) is a two-sided network developed on ISX's own platform that links both merchants and consumers around the globe to facilitate the processing of payment transactions. flykk(R) allows customers to use their account for both purchase and paying for goods, as well as to transfer and withdraw funds, with the benefits of a Diners card for point of sale transactions.

ISX Financial's subsidiary Probanx(R) also develops payment infrastructure for third parties, and provides connectivity to central banks, banks around the world and major card schemes.

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Contact

Media Relations
E: media@isxfinancial.com
T: +35722015740
W: www.isx.finanical



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