Strong Growth Expected To Continue For 2016

LONDON, April 14, 2016 /PRNewswire/ -- Financial year 2015 (FY15, ending 30th June 2015) was another strong year for the NoteMachine Group with EBITDA up £8.6 million reaching a total £24.2 million, an increase of 54.4% on the prior year following the acquisition of foreign exchange partner eurochange Ltd. Bolstered by further ATM growth in the free-to-use (FTU) through-the-wall (TTW) market, with significant contracts secured and further uptake from independent retailers. NoteMachine Group has sustained a compound annual growth rate of 31.5% since Corsair Capital's ownership of the business in 2012 and continues the rate of growth through calendar 2016. 

Peter McNamara, Chief Executive Officer and Founder, stated, "NoteMachine expects its business momentum to continue to build and for 2016 to be another strong year of growth. This momentum reflects the strengths and expanse of the NoteMachine platform following the successful acquisitions of leading Financial Institutions branch ATM estates, further building NoteMachine's position as the market choice for both consumers and financial institutions. The growth and success of NoteMachine is a product of the industry leading expertise of the managerial team and the strategic value added to the business through its relationship with Corsair Capital as its core investor."

Raja Hadji-Touma, Partner, Corsair Capital, noted, "NoteMachine's continued strong results reflect the excellent job performed by our management team and the growing appetite from financial institutions and merchants for the company's services. We are pleased that Corsair Capital is able to help NoteMachine grow by contributing its expertise of the financial services market and by providing access to our network of relationships. We remain very excited by the prospects and vision for the business."

Group Highlights

• FY15 EBITDA of £24.2m, growth of £8.6m (54.4%) versus prior year and 3 year CAGR of 31.5%
• Continued strong performance as the business looks set to sustain the 3 year CAGR for year ending FY16
• FTU transactions up 38.9% from 131m in Calendar Year (CY) 14 to 182m CY15
• Value of cash dispensed grew by £2.1bn, from £7.9bn in CY14 reaching £10bn in CY15 up 26.5% with the group set to exceed £13bn cash dispensed in CY16
• Installation of 1,147 FTU TTW ATMs in CY15, FTU TTW closing count of 3,193 CY15 versus 2,180 CY14, an increase of 46.5%
• Approximately 1m ATM transactions a day in the UK
• CY15 saw 20% growth in DCC transaction volume across the ATM estate versus prior year
• eurochange opened 24 new branches in CY15 bringing the estate total to 122, at the end of financial year June 2015, growth of 24% on prior year
• eurochange branch turnover up 10% Like for Like for CY
• Major corporate contracts secured including market leading forecourts, transport hubs and Financial Institutions (FI)
• Last 6 months has seen mobile originated FX transactions double on same period prior year
• New technology Smart Branch opened in February 2016

NoteMachine's free-to-use ATM estate grew 46.5% from CY14 to CY15, whilst setting a new internal record for transactions, a record which has since been broken as growth continues into 2016. During CY15 the ATM estate dispensed on average over £27 million per day and looks set to exceed £30 million per day for CY16. NoteMachine has the largest new cash-in-transit infrastructure in the UK through its vertically integrated operation, resulting in market leading availability across the estate.

The growth rate of new branches continues within eurochange during 2016, following on from a successful rollout in 2015, notably introducing branches into both Wales and Scotland, as the business continues to widen its branch network across the UK in major cities and towns.

Notes to Editors:

NoteMachine was founded in 2006 and is based in Crickhowell, South Wales. With 7 other Operational Centres covering the UK and one Operational Centre in Mainz, Germany. There are now over 9,500 ATMs in total, 589 in Germany and 126 branches in the UK.

The company deploys ATMs under its own brand of "NoteMachine" and also branded for Financial Institution partners.

The branches are located predominantly within high footfall shopping malls. These are branded "eurochange from NoteMachine" providing our customers with Foreign Exchange services and ATMs.

Media Contact 
Robert Siegfried / Ross Lovern 
+1-212-521-4832 / +1-212-521-4876 
robert.siegfried@kekst.com / ross.lovern@kekst.com

SOURCE Corsair Capital