Merchant | Jotup

EQS-News: AUTO1 Group reports record gross profit in 2023 and best annual adjusted EBITDA since IPO

Retrieved on:

Wednesday, March 13, 2024

CFO, Total, Traction, Investment, Retail, Adjustment, IPO, Merchant, GPU, Film industry

AUTO1 Group’s Retail business Autohero reported record GPU (gross profit per unit) of EUR 1,970 in Q4.

Key Points:

AUTO1 Group’s Retail business Autohero reported record GPU (gross profit per unit) of EUR 1,970 in Q4.
Retail gross profit was EUR 30.1 million, up 4% compared to Q3 2023.
Merchant revenue was EUR 1.07 billion, slightly up quarter over quarter and gross profit was EUR 103.7 million.
AUTO1 Group provides the following full-year guidance for 2024:
Total units at 610,000 - 665,000 (2023: 586,100 units)
Units in the Merchant segment at 540,000 - 595,000 (2023: 523,000 units)
Units in the Retail segment around 70,000 (2023: 63,100 units) with GPU at the EUR 1,900 level
Total gross profit at EUR 565 - 625 million (2023: EUR 527,9 million)
Adjusted EBITDA breakeven for the full year (2023: EUR (44) million)

Sanford Heisler Sharp Files Opposition in Response to Government’s Argument that the Rape of a Civilian Mariner by the Captain of a U.S. Navy Ship Should Be Addressed as Workers’ Compensation Because it Falls within the Performance of Her Job Duties

Retrieved on:

Monday, March 4, 2024

Complaint, Merchant, Failure, Motion, Injury, Title IX, Rape, Risk, D.C, Employment, United, MSC, Navy, Opposition, United States Navy

These motions are the latest in the sexual assault case that was first filed on November 29, 2023 in federal court in New Jersey against the United States.

Key Points:

These motions are the latest in the sexual assault case that was first filed on November 29, 2023 in federal court in New Jersey against the United States.
As stated in the Opposition, in addition to being morally reprehensible, this argument is neither factually accurate nor legally defensible.
Ms. Dominguez’s Opposition notes that the government’s position is offensive to civilian mariners and society’s notion of decent working conditions.
The United States has waived sovereign immunity under the Suits in Admiralty Act and the Public Vessels Act.

LegitScript Accelerates Payments Ecosystem Momentum in 2024

Retrieved on:

Tuesday, March 5, 2024

Payments, Data Management, Security, Technology, Artificial Intelligence, Internet, Square, ATII, Risk, Merchant, Certification, Risk assessment, Ecosystem, KYB, Online shopping

New Payments Leadership: LegitScript recently appointed Andy Vrabel to a new role as General Manager, Payments Ecosystem Solutions.

Key Points:

New Payments Leadership: LegitScript recently appointed Andy Vrabel to a new role as General Manager, Payments Ecosystem Solutions.
As a part of this role, Andy is responsible for guiding LegitScript’s product vision, strategy, and execution for the payments ecosystem.
New Payments Customer Advisory Board: Today, LegitScript is announcing the formation of its Payments Customer Advisory Board.
“Rapid advancements in technology are making payments fraud increasingly sophisticated and difficult to detect,” said Andy Vrabel, LegitScript General Manager of Payment Ecosystem Solutions.

ACI Worldwide, Inc. Reports Financial Results for the Quarter and Full Year Ended December 31, 2023

Retrieved on:

Thursday, February 29, 2024

ACI Worldwide (NASDAQ: ACIW), a global leader in mission-critical, real-time payments software , announced financial results today for the quarter and full year ended December 31, 2023.

Key Points:

ACI Worldwide (NASDAQ: ACIW), a global leader in mission-critical, real-time payments software , announced financial results today for the quarter and full year ended December 31, 2023.
"2023 was another year of progress for ACI, with steady revenue growth and improving margins,” said Thomas Warsop, president and CEO of ACI Worldwide.
Looking forward, our pipeline is strong, and we are focused and optimistic about our growth acceleration.”
In Q4 2023, revenue was $477 million, up 5% from Q4 2022.
Cash flow from operating activities in Q4 2023 was $86 million, up 107% compared to Q4 2022.

KBRA Assigns Preliminary Ratings to Credibly Asset Securitization II LLC, Series 2024-1

Retrieved on:

Thursday, February 29, 2024

Banking, Professional Services, Finance, Issuer, Note, ABS, Sale, Merchant, Merchant cash advance, Sponsor, KBRA

KBRA assigns preliminary ratings to four classes of notes (the “Notes”) issued by Credibly Asset Securitization II LLC, Series 2024-1 (“CRDBL 2024-1”).

Key Points:

KBRA assigns preliminary ratings to four classes of notes (the “Notes”) issued by Credibly Asset Securitization II LLC, Series 2024-1 (“CRDBL 2024-1”).
According to the Company, Credibly has provided businesses with access to approximately $2.25 billion across over 46,000 fundings.
CRDBL 2024-1 represents the Company’s third offering of asset-backed securities sponsored by Credibly and the third transaction rated by KBRA.
Credibly Asset Securitization II LLC (the “Issuer”) will issue four classes of Series 2024-1 Notes totaling $73.95 million.

EVERTEC Reports Fourth Quarter and Full Year 2023 Results

Retrieved on:

Wednesday, February 28, 2024

Finance, Banking, Payments, Professional Services, Technology, Acquisition, ASR, Payment, POS, Share repurchase, BBR, Growth, Sale, Capital expenditure, GAAP, Merchant, Popular, Webcast, Real estate

EVERTEC, Inc. (NYSE: EVTC) (“Evertec” or the “Company”) today announced results for the fourth quarter and full year ended December 31, 2023.

Key Points:

EVERTEC, Inc. (NYSE: EVTC) (“Evertec” or the “Company”) today announced results for the fourth quarter and full year ended December 31, 2023.
The quarter results also reflect an increase in interest expense in connection with financing the Sinqia acquisition.
For the quarter ended December 31, 2023, Adjusted EBITDA was $71.7 million, an increase of $2.5 million compared to the prior year.
The Company will host a conference call to discuss its fourth quarter and full year 2023 financial results today at 4:30 p.m.

Toorak Capital Partners Completes First Rated Residential Transition Loan Securitization

Retrieved on:

Friday, March 1, 2024

Professional Services, Other Construction & Property, Residential Building & Real Estate, Finance, Construction & Property, Asset Management, Banking, Ketan, Deutsche Bank, Marketing, J. P. Morgan, Institutionalisation, Merchant, Morgan Stanley, Corporation, Housing, RTL, Bank

Toorak Capital Partners, Inc. (“Toorak”), a leading capital provider to the residential real estate lending industry, today announced the successful closing of the first-ever rated residential transition loan (“RTL”) securitization, Toorak 2024-RRTL1.

Key Points:

Toorak Capital Partners, Inc. (“Toorak”), a leading capital provider to the residential real estate lending industry, today announced the successful closing of the first-ever rated residential transition loan (“RTL”) securitization, Toorak 2024-RRTL1.
Morgan Stanley led the offering and served as initial purchasers along with Deutsche Bank, J.P. Morgan, Performance Trust Capital Partners, and KKR Capital Markets.
The transaction features a two-year revolving period, during which time proceeds from loan payoffs can be reinvested in new loans.
To date, Toorak has issued over $3 billion in securitizations across 12 deals, including 8 unrated revolving transactions backed by RTL loans and 4 rated transactions backed by long-term investor loans on rental properties.

LegitScript Partners With the Anti-Human Trafficking Intelligence Initiative to Help Stop Human Exploitation

Retrieved on:

Tuesday, February 27, 2024

LegitScript , the leader in merchant and product certification and monitoring in the advertising, e-commerce, and payment sectors, today announced a new partnership with the Anti-Human Trafficking Intelligence Initiative (ATII) to disrupt human trafficking, sexual exploitation, and modern slavery operating through payments ecosystems.

Key Points:

LegitScript , the leader in merchant and product certification and monitoring in the advertising, e-commerce, and payment sectors, today announced a new partnership with the Anti-Human Trafficking Intelligence Initiative (ATII) to disrupt human trafficking, sexual exploitation, and modern slavery operating through payments ecosystems.
Under the partnership, LegitScript will incorporate ATII’s data sets into OneView , LegitScript’s AI-powered Market and Merchant Intelligence Platform that fuels its Merchant Onboarding and Merchant Monitoring solutions.
Diverse industry partnerships like these help LegitScript continue to build the world's most robust merchant risk data sets.
“ATII’s data will help our clients enhance their ability to deter, detect, and deny access to bad actors associated with potential human trafficking operations,” said Andy Vrabel, LegitScript General Manager of Payment Ecosystem Solutions.

Merchants & Marine Bancorp, Inc. Announces 2023 Financial Results

Retrieved on:

Tuesday, February 27, 2024

Merchants & Marine Bancorp, Inc. (OTCQX: MNMB), the parent company of Merchants & Marine Bank, reported net income during 2023 of $6.29 million, or $4.73 per share, compared with earnings of $3.14 million, or $2.36 per share, in the prior year.

Key Points:

Merchants & Marine Bancorp, Inc. (OTCQX: MNMB), the parent company of Merchants & Marine Bank, reported net income during 2023 of $6.29 million, or $4.73 per share, compared with earnings of $3.14 million, or $2.36 per share, in the prior year.
Loans continued to grow in 2023, although at a slower pace than in recent years, with annual loan growth of 4.81%.
Total interest income for 2023 increased to $31.09 million from $23.78 million in 2022, a lift of 30.73%.
“We are very pleased with our team’s superior performance in 2023, and the strong financial results they produced,” remarked Clayton Legear, the Company’s Chief Executive Officer.

Merchants Fleet Announces the Retirement of Chairman, CEO & President Brendan P. Keegan

Retrieved on:

Friday, March 8, 2024

CFO, Acquisition, Senior, Multimedia, Culture, Growth, Retirement, Sale, Merchant, Abu Dhabi Investment Authority, Innovation Center station, Movement, Partnership

HOOKSETT, N.H., March 8, 2024 /PRNewswire/ -- Merchants Fleet, the nation's fastest-growing fleet management company, has announced the retirement of its Chairman, CEO & President Brendan P. Keegan, effective May 17, 2024.

Key Points:

HOOKSETT, N.H., March 8, 2024 /PRNewswire/ -- Merchants Fleet, the nation's fastest-growing fleet management company, has announced the retirement of its Chairman, CEO & President Brendan P. Keegan, effective May 17, 2024.
"Brendan has been a visionary leader, driving significant growth and has positioned Merchants Fleet at the forefront of the fleet management industry," said Olof Bergqvist, Merchants' Board Member, Bain Capital.
Merchants Fleet is North America's fastest-growing fleet management company, enabling the movement of people, goods and services freely and responsibly.
From flexible funding, fleet acquisition and fleet management to vehicle remarketing, fleet consulting, fleet electrification, and the power of cloud-based fleet management platform TotalView®, Merchants serves as a single source for all fleet and mobility needs across more than 20 unique industries.