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Equals Group (EQLS) investor relations material

Equals Group H2 2024 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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H2 2024 earnings summary8 Apr, 2025

Executive summary

  • Revenue grew 38% year-over-year to £131.7m, with gross profit up 41% to £73.9m and adjusted EBITDA up 37% to £28.3m.

  • Profit after tax was £7.4m, down 4% from last year, impacted by higher administrative expenses and exceptional items.

  • B2B revenue share increased to 86%, reflecting a strategic pivot from B2C and strong growth in the Solutions platform.

  • The group is being acquired by Alakazam Holdings Bidco for 140p per share, including a 5p special dividend, with completion expected in April 2025.

  • Headcount rose 9% to 400, with investments in compliance, technology, and international expansion.

Financial highlights

  • Transaction volumes rose 47% to £18.2bn; revenue up 38% to £131.7m; gross profit up 41% to £73.9m year-over-year.

  • Adjusted EBITDA increased 37% to £28.3m; adjusted profit after tax up 49% to £19.6m.

  • Interest income on safeguarded funds nearly doubled to £21.9m, driven by higher customer balances.

  • Cash at bank at year-end was £29.2m, up from £18.7m; cash per share rose to 15.5p.

  • Two ordinary dividends totaling £3.8m were paid, plus a 5p special dividend as part of the acquisition.

Outlook and guidance

  • Management expects continued strong growth, supported by investments in technology, compliance, and international reach.

  • Headcount growth will slow relative to revenue expansion in 2025.

  • The group anticipates further market share gains in the B2B payments sector.

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Frequently asked questions

Equals Group plc is a financial technology company providing payment solutions, foreign exchange services, and expense management tools to individuals and businesses. Its offerings include international money transfers, corporate payment solutions, and multi-currency accounts, all accessible via digital platforms. Equals Group serves sectors that require efficient, cost-effective payment and FX solutions, allowing clients to manage cross-border payments and expenses with transparency and control. The company is headquartered in London, United Kingdom, and its shares are listed on the AIM.

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