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February 09, 2016 9:01 AM ET

Consumer Finance

Company Overview of Travelex Limited

Company Overview

Travelex Limited, through its subsidiaries, offers non-bank foreign exchange services worldwide. The company operates through five segments: Retail Travel Money, Commercial Foreign Exchange, Outsourcing, Travelers' Cheques, and Other Operations. The Retail Travel Money segment sells and purchases banknotes, travelers' cheques, and other foreign exchange and travel-related products and services to business and leisure purposes travelers. It includes operations in airports, tourist locations, and on board international ferry services. The Commercial Foreign Exchange segment includes international funds transfer services and foreign exchange risk solutions for commercial and personal customers ...

65 Kingsway

London,  WC2B 6TD

United Kingdom

Founded in 2000

5,112 Employees

Phone:

44 20 7400 4000

Fax:

44 20 7400 4001

Key Executives for Travelex Limited

Compensation as of Fiscal Year 2015.

Travelex Limited Key Developments

Travelex Reports Consolidated Earnings Results for the Nine Months Ended September 30, 2015; Provides Earnings Guidance for the Full Year 2015

Travelex reported consolidated earnings results for the nine months ended September 30, 2015. For the period, the company reported core group revenue of £558.5 million compared to £546.3 million a year ago. Core group EBITDA was £66.4 million compared to £70.8 million a year ago. Statutory revenue was £498.7 million compared to £526.6 million a year ago. Statutory EBITDA was £56.6 million compared to £65.6 million a year ago. Statutory loss after tax was £90.5 million compared to £104.6 million a year ago. Weakness in the Brazilian Real has continued to severely impact outbound sales volumes in Brazil and this together with the high inflationary environment and relatively fixed cost base has resulted in a decline in EBITDA. In addition EBITDA has been impacted by the anticipated new rental terms at Heathrow Airport and the group's planned investment in Digital capabilities. Strong performance during the peak trading period from Retail and Wholesale & Outsourcing has reduced the impact of these factors on the group's year to date performance. Total capex was £18.5 million compared to £30 million a year ago. Net debt as at September 30, 2015 was £308.2 million compared to £254 million as at Dec. 31, 2014. Cash flow from operating activities (statutory measure) was £213.2 million compared to £49 million a year ago. Net usable cash inflow from operating activities was £79.6 million compared to £53.6 million a year ago. In aggregate the group is expected to deliver full year results in line with management expectations, before the impact of exchange rates on translation, which amounted to £4.7 million on core group EBITDA for the nine months ended 30 September 2015.

Travelex Opens New Store in Budaiya

Travelex opened its 29th store in Budaiya, coinciding with its 10th anniversary in Bahrain. The opening comes as Travelex builds momentum on its growth strategy, for which the Middle East plays an integral part. The store at Budaiya provides access to more than 30 foreign currencies, Travelex Money Transfer, Western Union, Buy Back Guarantee as well as collection for online pre-orders from Travelex.bh.

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