EML shares zoomed following its FY2022 results and on-market share buy-back announcement

EML Payments Limited (ASX: EML) announced its FY2022 results and reported record revenue of US$234.1 million, up 21% compared to the previous corresponding period (pcp). The Group was benefitted from the launch of new Account Maintenance Fees on some European GPR programs where the account was inactive for over 12 months.

• Gross profit margin for the period was 68% as the contribution of General Purpose Reloadable grew compared to the other segments. EML’s 57% of gross profit margin was from the General Purpose Reloadable segment.
• Underlying overheads improved 41% to US$108.4 million.
• Underlying EBITDA declined 4% to US$51.2 million.

Other than FY2022 results, the Company also announced an on-market share buy-back program of up to $20 million. The buyback of shares is a part of EML’s proactive capital management strategy.

At AEST 11:28 AM, EML shares are trading at AU$1.165, up 9.905% from its previous close.   

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