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Travelex Issuerco 2 Plc: Results for Q2 2022

·3-min read

EQS-News: Travelex Issuerco 2 Plc / Key word(s): Quarter Results
Travelex Issuerco 2 Plc: Results for Q2 2022
26.08.2022 / 11:45 CET/CEST
The issuer is solely responsible for the content of this announcement.

Travelex Issuerco 2 Plc

Results for Q2 2022

Travelex Issuerco 2 Plc

26 August 2022

 

Travelex Issuerco 2 Plc ("Travelex" or the "Company")

26 August 2022

Results for Q2 2022 ("Q2 Results")

The Company's Q2 Results are accessible via the following link:

http://www.rns-pdf.londonstockexchange.com/rns/3709X_1-2022-8-26.pdf

Travelex generated revenues of £106.8m in Q2 2022 (Q2 2021: £31.7m), which is a 55% increase on the £68.8m reported in the first quarter.  UK, Europe, Brazil and MET continued their strong revenue recoveries into Q2, whilst the reopening of countries across Asia and ANZ has driven much improved financial performances in these markets.

Travelex produced positive underlying EBITDA in Q2 2022 of £8.4m, the first EBITDA positive quarter since 2019, £27m favourable to Q2 2021 and just £2.3m lower than 2019 despite the lower revenue. First half EBITDA was £1.7m, which was £40.8m favourable to 2021 and only £3.8m lower than 2019.

The improved revenue performance has been driven by a rapid return of revenues since the start of 2022 as the impact of the Covid-19 pandemic has dissipated and travel restrictions have been lifted across most major markets. Despite significantly less costs than in 2019, the focus continues on ensuring cost reinvestment is linked to revenue recovery but the well-publicised challenge of recruiting staff, which is impacting businesses globally, has also led to some delay on the reintroduction of staff costs in key markets, which has helped increase Travelex's EBITDA.

Richard Wazacz, Travelex CEO, said:

"We are delighted to be back on a firm financial footing, and our positive Q2 results are testament to the hard work of every member of the Travelex team - all of whom have helped drive the company forward through challenging conditions in recent times."

"With travel returning and Travelex creating more than 1,200 jobs worldwide, coupled with the development of new digital solutions, we are both optimistic for the future of the business and hugely excited to serve our customers in new ways."

Enquiries:

Travelex

For investor related queries:

Victoria.Benis-Lonsdale@travelex.com

 

For other enquiries:

Press@travelex.com

 

-END-

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

 


26.08.2022 CET/CEST This Corporate News was distributed by EQS Group AG. www.eqs.com

Language:

English

Company:

Travelex Issuerco 2 Plc

8 Sackville Street

W1S 3DG London

United Kingdom

Phone:

+44(0)7584336458

E-mail:

Victoria.benis-lonsdale@travelex.com

Internet:

https://www.travelex-corporate.com/

ISIN:

XS2248458049, XS2248456936

WKN:

A284QJ

Listed:

Vienna Stock Exchange

EQS News ID:

1429111


 

End of News

EQS News Service

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