OFX Group (ASX: OFX) expects underlying EBITDA of AUD 63-74mn in FY24

Mon 13 Nov 23, 12:49 PM | Team Kalkine

Image source: Pixabay

Highlights

In the first quarter of FY24, the company recorded 25.5% YoY increase in net operating income and a 16.9% YoY jump in B2B revenue

In full year 2024, the company expects to achieve net operating income of AUD 225-243 million

Active client’s retention and growth is the company’s future focus

OFX Group Limited (ASX: OFX) is an ASX-listed firm which provides international money services. It has presence in nine countries. The company offers money transfer and foreign exchange services across over 50 countries to enterprise, consumer and corporate clients. Established in 1998, OFX’s present market capitalization is AUD 385.36 million.

In the financial year 2023 (FY23), the company delivered record performance as the underlying EBITDA increased by 40.3% YoY to AUD 62.4 million, net operating income surged by 45.6% YoY to AUD 214.1 million and turnover jumped 17.9% YoY to AUD 39.1 billion.

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