Leadership Shake-Up to Propel EML Payments Forward

December 23, 2024 12:00 AM AEDT | By Team Kalkine Media

Leadership Shake-Up to Propel EML Payments Forward — Image source: shutterstock

Leadership Transition

To ensure continuity, Anthony Hynes, currently the independent non-executive chair, will take over as executive chair starting December 23, 2024. With vast experience in global payment solutions and deep insights into EML's operations, Anthony Hynes is expected to drive the company toward building a high-performance culture while executing its ambitious strategy.

Speaking on the development, Hynes emphasized the importance of 2025 as a transformative year for EML Payments, highlighting the company’s renewed focus on fostering growth in the payments sector. The leadership team remains committed to making substantial progress under the EML 2.0 strategy.

Operational Highlights

EML Payments has reaffirmed its FY25 guidance, projecting an underlying EBITDA in the range of A$54-60 million. Despite these commitments, the company has navigated several challenges, including the liquidation of its Irish subsidiary, PFS Card Services Ireland, in January 2024. The decision to dissolve the subsidiary was based on its unsustainable financial performance, which resulted in an expected loss of A$20 million for the financial year.

Further, EML finalized the sale of its Sentenia and Nuapay services business to GoCardless in September, achieving an enterprise value of €32.75 million (approximately A$54.6 million). This move aligns with EML’s strategy to streamline operations and focus on core business areas.

Strategic Focus

The company has also concluded the regulatory remediation program for its UK subsidiary, PFSL, and addressed acquisition-related liabilities tied to PFS. These efforts underline EML’s determination to stabilize operations and enhance its financial health.

As a global payments provider with operations spanning Australia, the UK, Europe, and North America, EML Payments is positioned to execute its strategy effectively while navigating the evolving dynamics of the payments industry.

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.