Lesaka reports Q2 EPS (4c), consensus (3c)

Reports Q2 revenue $143.9M, consensus $144.47M.The Net debt to Group Adjusted EBITDA2 ratio improved to 2.7 times, compared to 3.6 times in Q2 2023, driven by debt reduction and growth in Group Adjusted EBITDA. Guidance for fiscal 2024 re-affirmed.Outgoing Lesaka Group CEO Chris Meyer said, “I am pleased to announce that we have once again achieved excellent results this quarter. Our Consumer team’s hard work over the past two years is paying off, resulting in substantial customer and profit growth. Our Merchant division has also performed well, and our anticipated acquisition of Touchsides has given us new technology and expertise in the tavern vertical, allowing us to continue innovating in this competitive market. The progress Lesaka has made in the last two years has been remarkable, and I am proud of our achievements. I am confident that the exceptional leadership team and motivated colleagues will continue Lesaka’s journey towards becoming the leading fintech platform in Southern Africa. The appointment of Ali Mazanderani as Executive Chairman is very exciting for Lesaka. He is an exceptional fintech entrepreneur and leader, with deep experience and a proven track-record in the fintech sector and in emerging markets, including South Africa.”