Sagi's SafeCharge reports 24% revenue growth in 2018

David Avgi Photo: PR

The smart payments solutions company saw a 45% growth in deal turnover and record revenue last year.

SafeCharge International Group Ltd. (AIM: SCH), which specializes in payment processing, smart payment and risk management technologies, has today reported preliminary partial financial results for 2018. The company has notified the London Stock Exchange that the positive momentum is continuing and in 2018 the company recorded 45% growth in deal turnover from its customers. The company's controlling shareholder is Israeli businessman Teddy Sagi and the CEO is David Avgi.

The company registered a record volume deal turnover of customers using its platform. The volume of operations rose from $9.6 billion in 2017 to $13.9 billion in 2018, growth of 45% compared with 2017.

The company also reported record revenue in 2018, which rose about 24% compared with 2017, which was in the upper range of the previously provided guidance of $137.5-138.5 million ($111.7 million in 2017). The pro-forma EBITDA will be in line with the guidance of $36.5-37.5 million.

SafeCharge is expected to distribute a dividend of 75% of pro-forma EBITDA, totaling about $27 million for the entire year. These results and an expanding customer base give encouragement to the company's board of directors regarding the results in 2019 and beyond.

SafeCharge is an international company which specializes in payment processing, smart payment and risk management technologies. Trading on London's AIM since late 2014, when its share price was 162 pence, the company's share price is currently 278 pence. The company was founded by Teddy Sagi and David Avgi. Over the past four years, since the IPO, the company's market cap has doubled to $540 million, and it has been one of the most successful Israeli companies to hold an offering on the London stock exchange.

SafeGuard has 400 employees. The company's R&D and technical support teams are based in Israel on an entire floor of the Azrieli Sarona tower in Tel Aviv. The company also has offices in the UK, Bulgaria, Austria, the Netherlands, Singapore, Cyprus, Hong Kong, China and the US. The company's customers include Gett, Nayax, El Al, Nespresso, Pango, Migdal Insurance, and more. The company is licensed by the European Payments Institutions Federation and over the past year has received a UK license from the British regulator ahead of Brexit. The company fully owns Credit Guard, a leading payments provider in Israel.

Over the years, SafeCharge has developed smart and secure payment management system connected to a wide range of leading banks worldwide and alternative payment providers. SafeCharge's technology provides an overal solution and allows the company's customers to implement outsourcing of all its online payments management. Among other things, SafeCharge's systems allow thousands of small and medium-sized businesses to execute advanced payment solutions for electronic commerce, while significantly cutting costs.

Published by Globes, Israel business news - en.globes.co.il - on January 13, 2019

© Copyright of Globes Publisher Itonut (1983) Ltd. 2019

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David Avgi Photo: PR
David Avgi Photo: PR
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