London, 28th February 2011. Skrill Holdings, the company operating online payments provider Moneybookers, one of Europe’s largest online payments systems, is pleased to report significant growth in the business’ financial performance, customer base, merchant base and transaction volumes during 2010. These achievements serve to further strengthen Moneybookers’ position as one of Europe’s largest online payments systems and among the world’s leading eWallet providers.
In 2010, the Company reported revenue of €66.7m, demonstrating a compound annual growth rate of 40 per cent. over the prior two years. The Company’s Adjusted EBITDA margin for 2010 was in excess of 40 per cent, as it had been for the previous two years.
Building on 2009’s positive momentum, Moneybookers’ customer base continued to grow during 2010, increasing by 48%, from 10.5million to 15.6million, while the company’s merchant base grew by 37% to 71,000 during the same period, as merchants continue to turn to Moneybookers to access a comprehensive network of payment solutions, enabling them to transact in a complex and fragmented payments landscape. Additionally, transaction volumes increased by 52 per cent to €8.2 billion. The e-money float, which represents the aggregate value of customer deposits held in Moneybookers digital wallet accounts was €195.4 million as at 31 December 2010, an increase of 50 per cent. compared to the position as at 31 December 2009.
The continued success of the Moneybookers offering is predicated on the clear benefits of the company’s solutions to customers and merchants alike. Our eWallet solution enables any customer to make online payments conveniently and securely without revealing personal financial data, as well as sending and receiving money transfers cost-effectively simply by using an email address. Our Direct Payment Processing offers merchants over 100 local payment options with just one simple integration and at a low cost, and our leading security and risk management expertise, protects customers’ personal data and offers merchants charge-back protection.
Martin Ott, Co-CEO of Skrill Holdings, said: “2010 has been another fantastic year for Moneybookers. We are delighted by the continued growth in transaction volumes, merchant base and customer numbers which is testament to the quality and strength of our offering. Today more and more people and organisations are choosing to transact on-line and as a leading on-line payments provider we believe we are well positioned to benefit from this growth in e-commerce.”
Nikolai Riesenkampff, Co-CEO of Skrill Holdings, said: “We are pleased to be able to announce significant growth in 2010, building on Moneybookers’ success over the prior years. The Company is at an exciting time in its development. The digital payments industry is growing rapidly and we endeavour to capitalise on the opportunities ahead of us.”