PAX Technology 2019 Interim Financial Results
The Group achieved impressive growth, yet again, during the interim period, as more Acquiring Banks and Payment Service Providers (PSPs) around the world use PAX Technology solutions. The Group's overall revenue increased by 26.2% to HK$ 2,366.3 million, with 93% generated from international markets (i.e. outside China) which represents an increase of 38.7% compared to the same period last year: HK$ 2,206.9 million (H1 2018: HK$ 1,591.2 million), and a sign that the PAX brand continues to receive widespread global recognition.
Profit attributable to the owners of the company increased by 25.9% to HK$ 325.5 million, with basic earnings per share of HK$ 29.6 cents (H1 2018: HK$ 23.5 cents) and the Board of Directors declaring an interim dividend of HK$ 0.04 per ordinary share.
Particularly impressive performance came from the LACIS and APAC regions, up by circa 50% and 58% respectively, while North America and the EMEA region grew by around 9% and 18% respectively.
PAX Technology’s Android-based terminal portfolio, comprising SmartPOS, SmartECR and SmartKiosk solutions, continues to be very well received by merchants, with over 300,000 Android terminals alone shipping in the first half of 2019.
One of the Group's key competitive differentiators continues to be the innovative PAXSTORE platform, increasingly popular with PSPs and Acquirers and which has grown to over 70 independent marketplaces worldwide. An increasing array of value-added software applications are being delivered through PAXSTORE, which is fast enabling a more modern approach to terminal estate administration, customer relationship management and in-store data analysis.
Latin America & Commonwealth of Independent States (LACIS)
In the LACIS region, the Group recorded strong revenue growth of 50%. According to the Nilson report, PAX ranked no.1 in terms of shipments in Latin America.
The ongoing expansion of Brazil's electronic payment market is driving demand for terminals, with the Group's future prospects looking promising as more Acquirers enter into strategic partnership with PAX. The Android SmartPOS terminal portfolio, in particular, generated considerable revenue from Brazil.
In other Latin American countries, such as Mexico and Argentina, PAX also experienced encouraging sales growth during the first half of 2019.
PAX shipped over 150,000 terminals to Russia during the period, where the government’s drive toward adoption of the national Mir payment card, as well as a number of financial inclusion initiatives, are contributing to the increasing popularity of debit card usage.
Europe, Middle East and Africa (EMEA)
Across the EMEA region, PAX continued to grow revenue and win new market share.
European PSPs and Acquiring Banks continue to drive strong demand for PAX’s Android SmartPOS, SmartECR and PAXSTORE solutions, which are increasingly recognised as key elements to enhancing the competitiveness of their in-store merchant acquiring offering.
In Europe, notable growth was recorded in several countries, including the United Kingdom, Germany, Poland and Italy. During the first half of 2019, important software certifications were also obtained in Spain and France, positioning PAX for potentially impressive performance in these markets.
In Africa and the Middle East, demand for PAX solutions was strong, driven by a combination of government initiatives to promote cashless societies and the general trend of Acquiring Banks and PSPs switching to more modern Android based terminal solutions. Large-volume sales were recorded in North Africa, while PAX entered new markets in East and West Africa, where high mobile phone penetration has fostered the development of financial inclusion and mobile banking,
Asia Pacific (APAC)
Across the Asia Pacific region, demand continued to grow for the latest generation PAX payment terminal solutions, again where government efforts to advocate financial inclusion for the unbanked population, and the popularity of smartphones, continue to reshape how consumers transact electronically.
PAX experienced remarkably strong growth in India, Indonesia and Vietnam. In India over 200,000 payment terminals were shipped during the first half of 2019, with yet more Acquirers and PSPs working with PAX. The Group also successfully deployed large volumes of Android terminals in Hong Kong, Thailand and the Philippines.
The Group believes many of these emerging markets will become the principal sales growth driver in the APAC region in the coming years.
United States of America & Canada (USCA)
In the USA, PAX is focused on providing best-in-class solutions to top tier chain merchants., where the Group's innovative software management suite and the latest Android smart tablet terminals have been well received by the market. PAX continues to work with major US payment processors to bring its innovative Android terminal range to their nationwide network of ISOs (Independent Sales Organizations).
The Group further strengthened its partnership with third-party application providers to deliver more high-quality and diversified payment solutions through PAXSTORE. In the first half of 2019, pay-at-the-table software solutions were integrated into PAX payment terminals, enhancing the payment experience for restaurant and hospitality customers throughout North America.
From early 2018, the global economy has experienced uncertainties due to international trade disputes with China, where domestic Chinese companies continue to face challenges. The Chinese government and international organizations have lowered China’s forecasted GDP growth rate for 2019.
Because of intensifying market competition and the increasing credit risk of some market participants, the Group has made specific adjustments to its strategy and structure in response to changes in the Chinese market. The Group will now focus primarily on serving reputable and financially solid customers, establishing stronger partnerships and further strengthening risk management procedures. The Group will also streamline the operating structure of its China division, thereby improving cost structures while maintaining overall competitiveness in the Chinese market. These strategic and structural adjustments are expected to positively impact the Group’s overall profitability in the long run, as well as strengthen the risk assessment and management procedures of our local China market business.
Mr. Jack LU, Chief Executive Officer of PAX, commented:
"Now firmly at the forefront of the electronic payment terminal industry, PAX gives top priority to R&D, innovation and the pursuit of superior product quality, where we seek to continuously enrich the Group's comprehensive product portfolio.
As local governments accelerate financial inclusion around the world and market demand shifts to highly flexible Android-based platforms, our new generation of Android-based SmartPOS terminals, SmartECRs and SmartKiosks are attracting much interest. As our revolutionary terminal hardware design integrates more smartphone-like features, we expect demand to continue to grow for PAX’s innovative suite of terminal hardware and related software solutions.
The Group maintains a prudently optimistic outlook regarding the prospect of the international electronic payment terminal industry.
PAX will continue to strengthen its partnerships with Channel Partners, Acquiring Banks, PSPs and Merchants worldwide, so that we can further expand our global sales pipeline and explore new market segments.
PAX is committed to carrying forward the sustainable development of the Group, creating greater value for our shareholders".
Sun Hun Kai Centre, 30 Harbour Road, Wan Chai, Hong Kong
Press contact: Jie Chen
The world's leading provider of secure electronic payment terminal solutions
This release was published on openPR.
Permanent link to this press release:
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release PAX Technology 2019 Interim Financial Results here
News-ID: 1821691 • Views: 453
More Releases from PAX Technology Limited
Free PAX Terminals for Scandinavian Merchants through GoAppified’s iGO Initiat …
GoAppified, a payment service provider that specializes in digital and mobile payment solutions, announced the launch of its iGO campaign, offering free of charge PAX S920 mobile terminals packaged with very competitive acquiring rates, for small and mid-sized merchants in the Nordic countries. Merchants can choose from the iGOPay, iGOPlus or iGOPro packages, where they deploy a state-of-the-art PAX payment terminal, offering the latest PCI and NFC Contactless certifications, for a
PAX Global Technology Announces 2017 Annual Results
Overseas revenues surge more than 57.1% Record high shipment volume of over 6.4 million terminals worldwide (Hong Kong, PRC, 7th March 2018) PAX Global Technology Limited (“PAX” or the “Company” or the “Group”, HKSE stock code: 00327.HK), one of the world’s leading providers of electronic payment terminal (“E-Payment Terminals”) solutions and related services, is pleased to announce its annual results for the year ended 31st December 2017. During the year, the Group’s revenue
PAX Technology obtains its first global approval for PCI P2PE
PAX Global Technology Limited (“PAX” or the “Company”, together with its subsidiaries collectively known as the “Group”, HKSE stock code: 00327.HK), one of the world’s leading electronic payment terminals solutions providers, has been granted approval by the Payments Card Industry Security Standards Council for the latest version 2.0 of Point to Point Encryption. Mr. Jack Lu, CEO at PAX, said: “The acquisition we made in 2015 in our Italian subsidiary has
PAX Launches New SP20 V4 Contactless PINpad
PAX Global Technology Limited (“PAX,” HKSE stock code: 00327.HK), one of the world’s leading Electronic Funds Transfer Point-of-Sale Terminal (“E-payment Terminal”) Solutions Services Providers, introduced its new generation Contactless PINpad, the SP20 V4. Designed to minimize countertop space, the SP20 V4 provides customers with an easily identifiable contactless landing pad, privacy shield and inbuilt speakers providing vocal assistance for visually impaired people. The SP20 V4 is certified for all major international contactless
More Releases for Group
Global LF Refined Steel market 2017 - HBIS Group, NSSMC Group, POSCO, Shagang Gr …
Apex Market Reports, recently published a detailed market research study focused on the "LF Refined Steel Market" across the global, regional and country level. The report provides 360° analysis of "LF Refined Steel Market" from view of manufacturers, regions, product types and end industries. The research report analyses and provides the historical data along with current performance of the global LF Refined Steel industry, and estimates the future trend of
Skye Dental Group
The Skye Dental Group has some of Glasgow’s most established, hygienic and professional practices under its umbrella. This includes The Glasgow Dentist, based in the Rutherglen area of Glasgow. The practice offers a range of private dental treatments such as teeth straightening systems, Damon Braces, Invisalign and Six Month Smiles, as well as dental implants for missing teeth and general dentistry and hygienist services. Damon Braces Damon Braces are a fixed brace teeth
Carpet Tile Market 2017 - Interface, Mohawk Group, Dixie Group, Milliken Group, …
The Global Carpet Tile Market 2017 Industry Research Report focused on global and regional market, major manufacturers, as well as the current state of the Carpet Tile industry. First, "Global Carpet Tile Industry 2017" report analyzed the basic scope of this industry like definition, specification, classification, application, industry policy, news analysis and Carpet Tile industry chain structure. Major Companies Covered in this report:- Interface Mohawk Group Dixie Group Milliken Group Bentley Mills Shaw Contract Group Request For Report
Sharp World Group
In order to develop production, it is necessary to continuously improve performance and introduce modern methods of work. As new technologies appear, enterprises strive to modify equipment they use in order to improve quality of products they propose. Such changes directly affect formation of consumer’s goods loyalty that, in its turn, ensures a stable profit and revenue for the company. Sharp World Group is one of the leading companies that manufactures
Sharp World Group
Pour développer la fabrication il faut perfectionner son fonctionnement et intégrer de nouvelles méthodes modernes. A mesure que de nouvelles technologies apparaissent les entreprises сherchent à modifier l’équipement pour améliorer la qualité du produit. De tels changements influencent la fidélisation des clients ce qui assure les bénéfices et le profit de l’entreprise. Sharp World Group est une des sociétés leaders de production des systèmes de refroidissement et de congélation. Avec son
Dr. Batra's Group Profile
Dr. Batra's – the name that represents excellence and commitment to the health services sector – the pioneering force that aims at building values for patients, employees, partners and for the society, at large. The fundamental business strategy of Dr. Batra’s is to innovate, to excel at whatever is created and to build a brand that constantly strives for something still better! Transparency in business and abiding by their fundamental principles