News and Press Releases:


NEOVIA Financial Plc 2008 Audited Results

Thursday, 30 April 2009 – NEOVIA Financial Plc (LSE: NEO) (“NEOVIA” or the “Group”), the independent global online payments business, presents its audited results for the year ended 31 December 2008.

Financial Summary

  • Group revenue of US$ 75.6m up 9% - excluding North America (2007: US$ 69.1m);
  • Fee revenue (excluding North America) of US$ 69.5m in 2008, up 26% (2007: US$ 55.1m);
  • Gross margin improved to 61.8% in 2008 due to cost management (2007: 55.6%);
  • Profit before tax and other items of US$ 6.4m (2007: loss US$ 12.8m);
  • Total Group cash was US$ 82.3m at 31 December 2008; and
  • No dividend payable as Group seeks to preserve cash to retain financial flexibility.

Key Performance Indicators

  • Active e-wallet users (ex North America) totalled 97,673 in Q4 2008 (Q4 2007: 99,984);
  • E-wallet fee revenue per active e-wallet user US$ 128 for 2008 (2007: US$ 111);
  • Average daily sign ups were 981 for 2008 (2007: 985); and
  • Average daily receipts US$ 457,442 for 2008, (2007: US$ 656,809) (including North American receipts).

Operational Highlights

  • Enhanced core e-wallet functionality in 2008 for customer and merchant improvements;
  • Successful launch of Net+ card to existing e-wallet customers in October 2008; and
  • Rebrand of Group to NEOVIA Financial completed in November 2008.

Current Trading

  • First quarter trading disappointing reflecting weakening trend in Europe;
  • Q1 2009 revenue of US$ 16.4m down 3% compared to Q1 2008 of US$ 17.0m; and
  • Average daily receipts down 11% and active e-wallet users down 8% (from Q1 2008).

Dale Johnson, Chairman, commented: “During 2008 progress was made by the NEOVIA Group in building the foundations to be a pre-eminent provider of bold online payment solutions to selected e-commerce communities. Creditable financial performance was achieved, in line with market expectations, despite a sharp deterioration in economic conditions worldwide. Nonetheless, the Board is not fully satisfied with the Group’s progress towards its strategic aims. Trading in the year to date has been disappointing and reflects a weakening trend in Europe, due to an increasingly competitive market, challenging economic conditions, volatile currency markets and limitations in new product introductions until Newteller (NEOVIA’s new business platform) is launched in Q3 2009. While the Board remains confident about the Group’s prospects, the overarching themes for 2009 will be leveraging high potential initiatives, cost control and prudent cash management.”

For more information, download the full press release and audited financials in PDF format.


About NEOVIA Financial Plc

Trusted by consumers and merchants in over 160 countries to move and manage billions of dollars each year, NEOVIA Financial Plc operates the world's leading independent online payments business. Through its Payment Suite, featuring NETELLER®, NETBANX®, Net+™ and 1-PAY™ brands, NEOVIA specialises in providing innovative and instant payment services where money transfer is difficult or risky due to identity, trust, currency exchange, or distance. Being independent has allowed NEOVIA to support thousands of retailers and merchants in many geographies and across multiple industries.

NEOVIA Financial Plc is quoted on the London Stock Exchange’s AIM market, with a ticker symbol of NEO. Subsidiary company NETELLER (UK) Limited is authorised by the Financial Services Authority (FSA) to operate as a regulated e-money issuer. For more information about NEOVIA Financial visit www.neovia.com or subscribe at www.neovia.com/feeds/.

Media and Investor Contacts

NEOVIA's media relations can be contacted through the Media Relations Contact page. NEOVIA investor relations are managed by Citigate Dewe Rogerson. Contact them through the Investor Relations Contact page.