INTERIM REPORT JANUARI - SEPTEMBER 2004
Summary for the period
* Net turnover has increased to KSEK 698 (178), compared with the same period in 2003. The gross transaction volume rose to KSEK 12,241 (2,826). The gross transaction margin during the period came to 4.7 per cent (4.8).
* Profit/loss after tax amounted to KSEK –24,440 (-18,301). Profit/loss per share for the period came to SEK -2.3 (-3.3).
* As of 30 September the number of wallets opened was 133,719, an increase of 140 per cent compared with the start of the year (31 Dec 2003: 55,700). As of 30 September the number of agreements signed with e-retailers totalled 741 (31 Dec 2003: 475).
* Four new payment services or forms of access have been introduced during the period: Large Enterprise Services, Partner Network Services, Mobile Services and Payment Services. Income from these services has not yet affected the profit/loss for the period.
* During the period agreements have been signed with CD WOW, Mindark PE, TV4 Interactive, AdLibris, Fujifilm Sverige, SJ, Swebus Express, among others, and with Ryanair immediately after the close of the reporting period.
* Strategic partnership agreements were signed with Studentkort i Sverige AB, the three payment service providers GZS/easycash (Germany), Paybox (France) and Triple Deal (Holland), the factoring company AK Finans and the Swedish IT consultancy firm WM-data.
* The majority of the newly signed large enterprise agreements, including SJ, Swebus Express and Ryanair, have failed to generate any income during the period because of delays during implementation and start-up. Commissioning and launches for these clients are expected to occur during the fourth quarter and at the start of the first quarter of 2005.
* Paynova was listed on NGM, the Nordic stock exchange, on 26 February 2004.
* Activities have been financed primarily through new share issues. Three targeted issues have brought Paynova MSEK 18.9 and increased the number of shares by 1.7 million. In addition to this, a little over 1.2 million shares were subscribed for in connection with the maturing of subscription options (TO5) in March, bringing the company almost MSEK 8.9. After the close of the period authorisation for the remaining 1 million shares was used for another targeted new share issue.
* Following the close of the reporting period the commercial launch and marketing of products via our partners in France, Germany and Holland was initiated. Europe is still in focus and Paynova is expecting to sign more strategic partnership agreements during 2004.
The entire Interim Report is enclosed and available at www.paynova.com
For further information, please contact:
Mats Jonnerhag, Information Manager, Paynova AB
Telephone: + 46 (0)708 – 754 920, e-mail: mats.jonnerhag@paynova.com
Pelle Hjortblad, CEO Paynova AB
Telephone: +46 (0)701 – 810 110
e-mail: pelle.hjortblad@paynova.com
www.paynova.com
About Paynova
Paynova (listed on NGM: PAY) is a Payment Service Provider (PSP) with a complete transaction processor offering several services/forms of access for payments and other transfers via the Internet.
The payment services focusing primarily on the Travel, Media and Retailing sectors include the Paynova Wallet, Large Enterprise Services, Mobile Services, Partner Network Services and Payout Services. Transactions are processed between e-retailers, consumers, banks and other players rapidly, simply, securely and cost-effectively.
Paynova’s transaction processor and payment services are linked, together with traditional banks, card companies and other PSPs, to a comprehensive financial infrastructure with both geographical cover and options for minimising transaction costs.
Paynova’s Partner Network includes well-established Internet banks, card companies (VISA, MasterCard etc.), PSPs and other similar players (GZS/easycash, Paybox, TripleDeal, WM-DATA etc.). Via VISA and MasterCard, Paynova can connect transactions globally with more than 20,000 banks. Paynova’s current market focus is Europe.
Important agreements have recently been signed with, for example, Ryanair, SJ, Swebus Express and CDWOW.