Edison Investment Research - Wameja Limited (WJA) eServGlobal - Banking on HomeSend

Report

Edison Investment Research

Katherine Thompson

eServGlobal - Banking on HomeSend

eServGlobal enters FY18 with a reduced cost base and a fully funded balance sheet; we are forecasting the core business to be close to EBITDA break-even in FY18. With access to Mastercardâ€™s sales force and financial institution customer base, HomeSend has signed up a number of banks to use its cross-border payment platform. As these banks shift volumes onto the platform, this should drive strong growth in volumes and move the joint venture towards profitability.

22/05/2018 13 EN

Underlying

Wameja Limited

eServGlobal provides mobile money solutions which put feature mobile financial services for users, including mobile wallet, mobile commerce, recharge and agent management features. Co. invests in product development, using technology and aligning with the requirements of customers in 50 countries. Co. is partnering with MasterCard and BICS to build the HomeSend joint venture, an international remittance service based on Co.'s technology and enabling money transfer in over 50 markets. Co. operates in a single segment being the provision of telecommunications software solutions to mobile and financial service providers.

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AU000000ESV3 Australian Securities Exchange Australia

Provider

Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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Analysts

Katherine Thompson

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eServGlobal - Break-even target reiterated

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eServGlobal - Banking on HomeSend

eServGlobal - Break-even target reiterated

eServGlobal - FY18 core business outlook maintained

OPAP - Winning strategy

Patria Private Equity Trust - High liquidity and solid long-term track record

MoneyHero - Emphasis on driving margin

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