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DEKRA Builds on Excellent Fiscal Year 2023

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  • Revenue at all-time high of 4.1 billion euros (+8% vs. 2022)
  • Adjusted EBITDA grew by 7.8%, adjusted EBIT by 12.8%  
  • Strategy 2025′ gains momentum: Further growth expected, based on a strong core business and the Future Mobility, Cyber Security, Sustainability, and Artificial Intelligence focus areas

Record Revenue Exceeds Own Expectations

STUTTGART, Germany, April 25, 2024 /PRNewswire/ — 2023 was an excellent year for DEKRA. Global revenue increased significantly to an all-time high of 4.1 billion euros (+8% vs. 2022: 3.8 billion euros) – exceeding the company’s own expectations and demonstrating strong growth compared to its industry peers. Earnings grew substantially to yield adjusted EBITDA of 455.5 million euros (+7.8% vs. 2022) and adjusted EBIT of 255.3 million euros (+12.8% vs. 2022). 

On this basis, in 2024, DEKRA plans to fully exploit its early mover advantage in future technologies and newly established regulations. As its ‘Strategy 2025’ gains momentum, revenue growth is expected to be in the mid-single-digit range. By 2025, the year of the company’s 100th anniversary, DEKRA aims to be the partner of choice for cutting-edge TIC (testing, inspection, and certification) services in the growing business areas of Future Mobility, Cyber Security, Sustainability, and Artificial Intelligence (AI).

“In 2023, DEKRA once again improved its business performance – despite a tense economic and geopolitical environment,” said DEKRA CEO Stan Zurkiewicz at the company’s Annual Press Conference. “All six regions and all Service Divisions contributed to our strong sales momentum and our all-time revenue high. Our strong core businesses and our early mover advantage in future topics make us highly confident that we will grow both revenue and margins, and achieve our strategic goals.” 

While DEKRA’s Americas (+27%) and Central East Europe & Middle East (+13%) regions delivered the highest growth rates in 2023, the largest revenue in absolute terms was generated in the GSA region (Germany, Switzerland, Austria: 2.6 billion euros).

From a business area perspective, vehicle-related services continued to be the primary source of revenue. DEKRA has, once more, confirmed its role as the global market leader in vehicle testing with 31.6 million tests carried out.

Read the full version here: www.dekra.com/en/press-overview/

– Picture is available at AP –

CONTACT: 
Uta Leitner 
Phone : +49.711.7861- 2877
Fax : +49.711.7861- 2240 
E-Mail :[email protected] 
Corporate Communications
Handwerkstraße 15
70565 Stuttgart, Germany
www.dekra.com/en/press-overview

View original content:https://www.prnewswire.co.uk/news-releases/dekra-builds-on-excellent-fiscal-year-2023-302127573.html

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PB Fintech slips 2% after over 8 million shares change hands via block deal

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PB Fintech witnessed a 2% decline in its stock price, reaching Rs 1,313.65 per share, as approximately 8.4 million shares, equivalent to 1.86% of outstanding shares, were exchanged via block deals on the exchanges. By 9:44 AM, the volume surged to 9 million shares collectively on both exchanges, while PB Fintech’s stock price dipped by 0.56% to Rs 1,333 apiece, contrasting with a 0.22% decline in the S&P BSE Sensex.

Executive Share Sales

On May 16, PB Fintech announced that its Chairman and CEO, Yashish Dahiya, alongside Vice Chairman and Whole-time Director, Alok Bansal, intended to sell partial stakes in the company. Dahiya plans to sell up to 5.4 million equity shares, while Bansal aims to divest up to 2.97 million equity shares. Proceeds from the sale will be allocated primarily towards taxes on current and future ESOP exercises.

Following the sale, Dahiya will retain a 4.83% stake, while Bansal will hold a 1.63% stake in PB Fintech on a fully diluted basis. The company clarified that no further share sales are planned by the duo for at least one year.

Company Profile and Financial Performance

PB Fintech is actively involved in providing integrated online marketing and IT consulting services, primarily for the financial services industry, including insurance. The company operates Policybazaar, India’s largest digital insurance marketplace, and Paisabazaar, which offers lending-related services.

In Q4FY24, PB Fintech reported a net profit of Rs 60.19 crore, marking a significant improvement from the Rs 9.34 crore loss in the corresponding period of the previous year. The company’s revenue from operations surged by 25.4% year-on-year to Rs 1,090 crore in Q4 FY24, compared to Rs 869 crore in Q4 FY23.

For the entire fiscal year, PB Fintech’s net profit stood at Rs 64 crore, contrasting with the Rs 488 crore loss in FY23. The company’s consolidated operating revenue rose by 34% year-on-year to Rs 3,437 crore.

Analyst Perspectives

Analysts at Nuvama Institutional Equities raised their FY25/26 Ebitda estimates significantly to accommodate higher growth and improved profitability. However, they maintained a ‘Reduce’ rating on the stock due to its rich valuation, revising their target price to Rs 1,160.

Keynote Capital downgraded PB Fintech’s stock to ‘Reduce’ from ‘Buy’, citing that most of the positives appear to be priced in. Despite acknowledging the company’s positive momentum and profitability, the brokerage believes that current market expectations may be overly optimistic.

PB Fintech continues to navigate its growth trajectory amidst strategic initiatives and evolving market dynamics, as reflected by varying analyst viewpoints.

Source: business-standard.com

The post PB Fintech slips 2% after over 8 million shares change hands via block deal appeared first on HIPTHER Alerts.

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US fintech Yendo secures $165m in mix of debt financing and equity

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Yendo, a prominent fintech company based in the United States, has successfully secured $165 million in funding through a combination of debt financing and equity investment.

Funding Structure

The funding round comprised a mix of debt financing and equity infusion, highlighting investors’ confidence in Yendo’s growth prospects and business model. This significant financial injection underscores Yendo’s position as a key player in the fintech sector.

Investment Highlights

Yendo’s ability to attract such substantial investment underscores its appeal to investors. The company’s innovative approach and strategic positioning within the fintech landscape have positioned it for accelerated growth and market expansion.

Utilization of Funds

The newly raised capital will likely be deployed to fuel Yendo’s expansion initiatives, including product development, market expansion, and strategic acquisitions. The infusion of funds will provide Yendo with the financial resources needed to capitalize on emerging opportunities and consolidate its market position.

Market Impact

Yendo’s successful funding round is expected to have a positive impact on the broader fintech market, signaling investor confidence in the sector’s growth potential. The influx of capital into Yendo reflects the ongoing trend of significant investment activity within the fintech industry, driven by increasing demand for innovative financial solutions.

Source: fintechfutures.com

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Commerce Bank goes live with instant payment service FedNow through Temenos Payments Hub

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Commerce Bank, headquartered in Kansas City, USA, has recently activated the FedNow instant payments service as part of its ongoing modernization efforts.

Collaboration with Temenos

Commerce Bank has partnered with Temenos, a leading Swiss vendor, to enhance its real-time payment capabilities. This collaboration builds upon Commerce Bank’s previous deployment of Temenos’ core banking platform in 2022 and its adoption of the Infinity loan origination solution earlier this year.

Utilization of Temenos Payments Hub

Commerce Bank has opted for the Temenos Payments Hub to integrate the FedNow service seamlessly. According to Temenos, this choice aims to amalgamate advanced banking products with cutting-edge delivery methods.

Insight from David Roller

David Roller, CIO of Commerce Bank, views this selection as a strategic step in their modernization journey. He emphasizes the bank’s commitment to meeting the evolving expectations of its customers by leveraging the capabilities offered by the Temenos platform.

Features of the Platform

The Temenos Payments Hub, delivered via Software-as-a-Service (SaaS), offers a comprehensive suite of payment tools and frameworks. These include features like straight-through processing, automated exception handling, cloud security measures, intelligent routing, and customizable workflows.

Leveraging the US Model Bank

In addition to the Temenos Payments Hub, Commerce Bank has also leveraged Temenos’ US Model Bank. This collection of pre-configured banking processes is tailored to address the specific requirements of the US market, further enhancing Commerce Bank’s operational efficiency and customer service.

Source: fintechfutures.com

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