Paysafe sees FY results ahead of market expectations

[January 08, 2016]  (Reuters) - Mobile payments company Paysafe Group Plc said it expected full-year results to be ahead of market expectations, helped by strong growth across its product lines, particularly in its North American processing business.

Paysafe said it expected adjusted EBITDA, or earnings before interest, taxation, depreciation and amortization (EBITDA) before share-based payments and exceptional items, to be about $150 million for 2015.

The company reported EBITDA of $86.1 million for 2014.

Paysafe, formerly known as Optimal Payments, also said that it now expected synergy savings from Skrill Group deal to be towards the top end of the previously announced range of $5 million to $10 million.

Paysafe bought Skrill e-wallet, the biggest competitor to its e-wallet business Neteller, for an enterprise value of about 1.1 billion euros ($1.19 billion) in August last year.

The company expects revenue of around $600 million for 2015, compared with the $365 million it reported a year earlier.

(Reporting by Rahul B in Bengaluru; Editing by Sunil Nair and Gopakumar Warrier)

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