Euronet Worldwide reports double digit growth for full year 2017: 13% increase on revenue and 11% for transactions

Euronet Worldwide, a leading electronic payments provider, reports the following consolidated results for the full year 2017 compared with the same period of 2016:
. Revenues of $2,252.4 million, a 15% increase from $1,958.6 million (13% increase on a constant currency basis).
. Operating income of $266.0 million, a 6% increase from $249.8 million (3% increase on a constant currency basis).
. Net income attributable to Euronet of $156.9 million or $2.85 diluted earnings per share, compared with net income of $174.4 million or $3.23 diluted earnings per share.
. Adjusted earnings per share of $4.58, a 14% increase from $4.02.
. Transactions of 3,631 million, an 11% increase from 3,261 million.

Fourth quarter constant currency revenue, operating income and adjusted EBITDA growth was largely the result of a 9% year-over-year increase in active ATMs, a 22% increase in transactions and the return of the ATM cash supply in India to pre-demonetization levels.

The increases in ATMs and transactions were primarily from growth in Europe and India – including an increase in the number of value added transactions on both ATMs and point-of-sale terminals. Similar to the fourth quarter 2016, the EFT Segment added more than 1,000 high-value ATMs during the quarter – deployed primarily throughout Europe – which positions the EFT segment for a continuation of strong revenue growth, but also results in higher operating costs in the seasonally weaker first quarter.

For the full year, ATM growth reflects the addition of approximately 3,300 high-value ATMs in Europe and India as well as the addition of approximately 900 ATMs under our low-margin agreements in India, less approximately 1,000 more winterized ATMs than the prior year.

Source: Euronet