Transaction growth of 5% and 4% for the full year and fourth quarter 2012, respectively, was driven by volume increases in the U.S., Germany, India and France. These volume increases were partially offset by declines in Spain, Australia and Brazil.
The Money Transfer Segment reports the following results for the full year 2012 compared with the same period for 2011:
- Revenues of $316.1 million, an 11% increase from $285.3 million (15% increase on a constant currency basis).
- Operating income of $24.6 million, a 44% increase from $17.1 million (50% increase on a constant currency basis).
- Adjusted EBITDA of $43.4 million, a 16% increase from $37.5 million (20% increase on a constant currency basis).
- Total transactions of 30.7 million, a 25% increase from 24.5 million.
- Network locations of approximately 177,000 as of December 31, 2012, a 21% increase from approximately 146,000 as of December 31, 2011.
The Money Transfer Segment reports the following results for the fourth quarter 2012 compared with the same period of 2011:
- Revenues of $87.2 million, an 18% increase from $74.0 million (19% increase on a constant currency basis).
- Operating income of $7.4 million, a 64% increase from $4.5 million (67% increase on a constant currency basis).
- Adjusted EBITDA of $12.2 million, a 30% increase from $9.4 million (31% increase on a constant currency basis).
- Total transactions of 8.6 million, a 28% increase from 6.7 million.
Revenue, operating income and Adjusted EBITDA expansion was driven by total transaction growth of 25% and 28% for the full year and fourth quarter, respectively. The strong growth resulted from Ria's continued focus on network expansion, which increased 21% over the prior year, together with additional transactions generated within existing markets.
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