Lesaka Reports FY23 Q2 Results Outperforming Upper End of Guidance
Successful execution against a carefully crafted transformation strategy
Performance highlights for Q2 2023:
Group Adjusted EBITDA of
$7.4 million( ZAR 130.4 million) exceeds the upper end of guidance of ZAR 123 millionin Q2 2023 by 6%. This represents a 77% increase compared to the prior quarter (Q1 2023: $4.2 million; ZAR 71.9 million) and significant improvement compared to Q2 2022 when Lesakareported a Group Adjusted EBITDA loss of $5.4 million( ZAR 83.6 million).
$136.1 million( ZAR 2.4billion)1 in Q2 2023, compared to $31.1 million( ZAR 478.5 million)1 for the quarter ended December 31, 2021(“Q2 2022”), exceeding the upper end of guidance by 4%, driven predominantly by strong outperformance in the Merchant Division.
Major milestone in achieving positive net cash provided by operating activities of
$3.4 million( ZAR 59.9 million) in Q2 2023, compared to an outflow of $13.8 million( ZAR 212.0 million) in Q2 2022.
Lesakare-affirms previous guidance provided for fiscal 2023.
“We are also delighted with the performance of our Consumer Division where we have achieved our goal of returning the business to profitability at a Segment Adjusted EBITDA level, providing tangible evidence of the turnaround in this segment of our business.
“We are seeing excellent momentum across our group, driven by clear secular trends underpinning the themes of financial inclusion, cash management and digitization, which is core to our value proposition to merchants and consumers in Southern Africa.”
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