Published On: Thu, Jan 22nd, 2015

Teddy Sagi’s SafeCharge Announces Stronger than Expected Earnings

SafeCharge

Teddy Sagi’s SafeCharge, an international provider of payments services, risk management and IT solutions for online businesses, announced that it expects that Adjusted EBITDA for the full year of 2014 will be ahead of market expectations and at least $24.5 million. This is more than double the previous year’s.

The earnings might have been higher if it were not for the company’s having gone on a shopping spree last year acquiring Israeli payment solutions company CreditGuard for $8 million and Ireland’s pre-paid solutions company 3V for $17 million.

SafeCharge stated that, “December 2014 was a significantly strong month for the company, and this trend has continued into January 2015.”

Numis investment bank had expected only a $23.8 million profit for the company. It said, “Adding payment cards to the electronic wallet will make it easier for those making payments to make withdrawals. The combination of these two solutions has the potential to support a change in SafeCharge’s business model in the direction of B2B2C (business to business, then to the consumer, T.T.). Such a mechanism is particularly significant for the Asian market, which is a strategic market for SafeCharge.”

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