Brief: Cembra To Acquire Byjuno To Create Leading Provider Of Invoice Payment Solutions

Cembra Money Bank AG

30/09/2022 06:05

Sept 30 (Reuters) - CEMBRA MONEY BANK AG  CMBN.S :
    * CEMBRA TO ACQUIRE BYJUNO TO CREATE A LEADING PROVIDER OF
INVOICE
PAYMENT SOLUTIONS IN SWITZERLAND
    * OUTLOOK 2022 AND MID-TERM TARGETS CONFIRMED
    * PURCHASE PRICE OF CHF 60 MILLION, AND POSITIVE NET INCOME
CONTRIBUTION FROM 2023 ON
    * TRADING UPDATE: CEMBRA'S POSITIVE PERFORMANCE CONTINUES IN
Q3
    * INTENDS TO COMBINE BYJUNO WITH ITS SUBDSIDIARY
SWISSBILLING TO
CREATE A LEADING PROVIDER FOR INVOICE PAYMENT SOLUTIONS IN
SWITZERLAND
    * TRANSACTION IS EXPECTED TO CLOSE IN Q4 OF 2022 SUBJECT TO
CUSTOMARY CLOSING CONDITIONS
    * EXCLUDING ONE-OFF INTEGRATION COSTS OF CHF 4-5 MILLION TO
BE
INCURRED OVER 2022 AND 2023, CEMBRA EXPECTS ANNUAL INCREMENTAL
NET INCOME OF AT LEAST CHF 6 MILLION FROM 2023 ON
    * CEMBRA EXPECTS Q3 NET REVENUES TO INCREASE BY 3% YEAR ON
YEAR,
WITH COMMISSION AND FEE INCOME INCREASING BY +20%
    * EXPECTS TO ACHIEVE ITS CHF 10-20 MILLION NET INCOME TARGET
FOR
BNPL BUSINESS BY 2026 AT LATEST
    * IN CREDIT CARD BUSINESS, CEMBRA EXPECTS REVENUES TO
INCREASE 8%
YEAR ON YEAR IN Q3, SUPPORTED BY SUCCESSFUL ROLLOUT OF NEW
CREDIT CARD RANGE CERTO! SINCE JULY 2022

Source text for Eikon:  ID:nEQ94zRTda 
Further company coverage:  CMBN.S 
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