August 30, 2016 3:54 AM ET

Consumer Finance

Company Overview of Travelex Holdings Limited

Company Overview

Travelex Holdings Limited, through its subsidiaries, engages in global business payments, currency exchange services and cards, and mobile payments. The company was formerly known as Trapax Payments Limited and changed its name to Travelex Holdings Limited in May, 2006. Travelex Holdings Limited was incorporated in 2005 and is based in London, United Kingdom.

65 Kingsway

London,  WC2B 6TD

United Kingdom

Founded in 2005

Phone:

44 20 7400 4000

Fax:

44 20 7400 4001

Key Executives for Travelex Holdings Limited

Travelex Holdings Limited does not have any Key Executives recorded.

Travelex Holdings Limited Key Developments

Travelex and UAE Exchange Close $890-Million Term Loan

The majority shareholders of Travelex Holdings Limited and UAE Exchange Centre have closed a term loan financing worth $890 million that the two foreign exchange firms will use for their growth plans. The shareholders reserve the option to increase the size of the loan by $75 million. The funds will be used to refinance an existing bridge facility that was used to buy Travelex during 2015. The loan was backed by nine banks including Doha Bank, Qatar National Bank and Goldman Sachs. UAE Exchange and Travelex will carry on operating as two separate brands but provide products via both the platforms. Their growth plans include foraying into new markets as well as growing distribution channels.

Travelex Holdings Limited Reports Audited Consolidated Earnings Results for the Full Year Ended December 31, 2015

Travelex Holdings Limited reported audited consolidated earnings results for the full year ended December 31, 2015. For the year, the company’s revenue was £655.7 million against £693.3 million a year ago. Operating profit before depreciation, amortization, interest and tax was £13.0 million against £54.1 million a year ago. Operating loss was £12.3 million against operating profit of £29.7 million a year ago. Loss before tax was £114.2 million against £132.3 million a year ago. Loss for the period from continuing operations was £122.5 million against £145.7 million a year ago. Loss for the period attributable to owners of the parent was £123.1 million against £149.4 million a year ago. Cash used in operating activities were £3.1 million against cash flows from operating activities of £17.5 million a year ago. Purchase of property, plant, equipment, and software and development expenditure was £25.2 million against £33.5 million a year ago.

Travelex Holdings Limited Reports Unaudited Consolidated Earnings Results for the Half Year Ended June 30, 2015

Travelex Holdings Limited reported unaudited consolidated earnings results for the half year ended June 30, 2015. For the period, the company’s revenue from continuing operations was £311.7 million against £329.3 million a year ago. Operating loss before depreciation, amortization, interest and tax was £15.6 million against operating profit before depreciation, amortization, interest and tax of £26.7 million a year ago. Operating loss was £27.1 million against operating profit of £15.7 million a year ago. Loss before tax was £82.6 million against £81.4 million a year ago. Loss for the period from continuing operations was £86.0 million against £86.8 million a year ago. Loss for the period attributable to owners of the parent was £85.5 million against £86.2 million a year ago. Cash flows from operating activities were £88.2 million against £56.1 million a year ago. Purchase of property, plant, equipment, and software and development expenditure was £13.0 million against £21.0 million a year ago. Underlying EBITDA was £26.7 million against £34.1 million a year ago. Core group revenue was £347.7 million against £341.6 million a year ago. Net debt was £278.5 million as on June 30, 2015. Core group EBITDA was £31.9 million against £36.7 million a year ago.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
March 29, 2016
Travelex Outsourcing Pty Ltd.
 

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