Try our mobile app
Lesaka Technologies, the Johannesburg-based fintech specialist with a primary listing on Nasdaq and a secondary listing on the JSE, has turned a full-year operating loss of R275-million a year ago into operating profits of R67-million. Revenue in the year to end-June 2024 increased by 11% to R10.6-billion. “We continue to improve the profitability of Lesaka materially, achieving group adjusted Ebitda of R691-million in FY2024, up from R445-million in FY2023 and a significant positive transformation compared to a group adjusted Ebitda loss of R328-million in FY2022,” it said, referring to earnings before interest, tax depreciation and amortisation – a measure of operational profitability. Revenue from the merchant division increased by 12% year on year, while the consumer division climbed 15% “We have carried this momentum into FY2025 and are providing a guidance range of R900-million to R1-billion” in adjusted Ebitda, said executive chairman Ali Mazanderani in a statement alongside the financial results. Group adjusted Ebitda grew by 55% in the period. Although the company made a net loss of R326-million, it is an improvement of 48% from the R691-million loss recorded in 2023. Earnings per share went from a negative R2.66 last year to a positive R1.06 in 2024. Divisions The company reported double-digit revenue growth in both of its major divisions, namely merchant and consumer. Revenue from the merchant division increased by 12% year on year to R9.3-billion, while consumer division revenue climbed 15% to R1.3-billion. “I am particularly pleased with the consumer division’s performance. Our teams have worked hard to turn it into an important profit and cash flow contributor for the group, demonstrated by the four-fold increase in segment adjusted Ebitda to R274-million,” said Lesaka Southern Africa CEO Lincoln Mali. – © 2024 NewsCentral Media Don’t miss: Lesaka Technologies given green light to buy Adumo
