Accounts and business of Mooney, acquired by Enel and Intesa Sanpaolo
The boards of Enel and Intesa Sanpaolo have given the green light to the operation on Mooney. All the details on the company's accounts and business
Enel has completed the acquisition of Mooney in alliance with Intesa Sanpaolo.
According to Il Sole 24 Ore , the boards of Enel and Intesa Sanpaolo have given the go-ahead for the operation . The scheme provides that Enel and Intesa Sanpaolo, which today controls 30% through Banca 5, each have a stake of around 50%.
The CVC Capital group, on the other hand, exits completely from the team, monetizing the investment. Mooney would have been valued at € 1.5 billion.
The acquisition of Mooney will allow the bank led by Carlo Messina and the energy group headed by Francesco Starace to grow in the fintech sector.
All the details on the company's accounts and business.
THE ACCOUNTS OF MOONEY
Moneey is the first Italian operator for proximity payment services.
The Mooney Spa group closed the 2020 financial statements in negative with a loss of 30.7 million euros (up from 5 million in 2019).
However, revenues grew: 311 million euros against the 13 million recorded the previous year. Operating costs totaled approximately 299 million euros.
Mooney recorded an Ebitda of € 59.5 million in 2020 from € 70.7 million in 2019. The company recorded a net financial debt of € 833.2 million, which includes the bond of € 530 million maturing in 2026 listed on Luxembourg Stock Exchange and issued in December 2019 by the then SisalPay Group, on the occasion of the acquisition of the business branches of Sisal Group and Banca 5.
In reference to the first six months of 2021, Mooney recorded revenues of 173.4 million euros (up 16% from 149.3 million in the first half of 2020) and an adjusted EBITDA of 46 million (up 28% from 36 million).
OPERATIONS IN 2020
On 31 July 2020 the group completed the acquisition of 51% of the company Pluservice Srl by Mooney Servizi SpA The company subject to acquisition holds 70% of the shares of myCicero Srl of which Mooney Servizi SpA already held the remaining 30%, and therefore with the direct control of Pluservice Srl the Group also obtained indirect control of myCicero Srl
THE MYCISERO PLATFORM
The myCicero platform allows you to pay via app for parking and blue stripes, as well as purchase tickets and passes for railways, local public transport and long-distance buses. The operation is part of the Mooney Group's business diversification and growth strategy, which sees the Mobility sector as an important area of development and synergies.
THE DIVISION OF REVENUES
Revenues for 2020 (311 million euros) are divided as follows: 186 million euros for payment services for bulletins and stamps; 13 million euros for services connected with both the distribution and top-up of prepaid cards issued by third parties and the “issuing” and top-up of pre-paid cards issued by the Company as an Electronic Money Institute; 34 million euros for the distribution and sale of top-ups and telephone cards and other commercial services; 17 million euros for banking-type services offered relating to the withdrawal, deposit and transfer of money in addition to the payments of fiscal proxies.
In addition, 4 million euros derive from the businesses of the newly acquired Pluservice Srl and myCicero Srl consisting in the supply of technological solutions for public and private transport companies, as well as services to citizens for the digital payment of parking lots, blue stripes and the purchase of tickets. of transport.
Finally, 53 million euros come from the fees accrued due from the Mooney distribution network on the basis of the contractual conditions signed and to a lesser extent other services provided to the points of sale including the service fees relating to EasyCassa installations, a retail technological solution integrated with the functionality of the recorder. cash, electronic invoicing, management and payment acceptance.
This is a machine translation from Italian language of a post published on Start Magazine at the URL https://www.startmag.it/economia/conti-e-business-di-mooney-acquisita-da-enel-e-intesa-sanpaolo/ on Sun, 26 Dec 2021 14:30:44 +0000.