Am I reading this right
Open Banking did ~EUR600m at 30-40bps in CY2020 which means they earned ~EUR2.1m at the midpoint. The earnout is if there is INCREMENTAL revenue of EUR27m which would imply that they would have to grow processed volumes by ~13 times what they did in CY2020 within 3 years.
The rest of the business which does volumes of EUR45bn which at a midpoint margin of 1.5bps means revenues of ~EUR7m so it seems a pretty steep price to pay (EUR70m excluding earnout) for ~EUR10m in revenues.
Looks like it's all to do with Open Banking (the announcement also focuses on this), with the connectivity to banks/enterprises etc a nice to have (and presumably helps the Open Banking service)
Ann: EML Acquires Sentenial Ltd & enters the Open Banking Market, page-8
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Last
89.5¢ |
Change
-0.035(3.76%) |
Mkt cap ! $335.7M | |||
| Open | High | Low | Value | Volume |
| 92.0¢ | 92.0¢ | 88.5¢ | $1.951M | 2.159M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 12355 | 89.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 91.0¢ | 11388 | 1 |
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| Last trade - 16.10pm 19/07/2024 (20 minute delay) ? |
| EML (ASX) Chart |