Announces 2021 outlook
SAN JUAN, PUERTO RICO – March 1, 2021 – EVERTEC, Inc. (NYSE: EVTC) (“Evertec” or the “Company”) today announced results for the fourth quarter and full year ended December 31, 2020.
Fourth Quarter 2020 Highlights and Recent Highlights
- Revenue increased 6% to $134.2 million
- GAAP Net Income attributable to common shareholders was $32.3 million, or $0.44 per diluted share
- Adjusted EBITDA increased 16% to $63.9 million
- Adjusted earnings per common share was $0.59, or a 23% increase
- Launched Santander Chile and Citibanamex products
- Expanding in Mexico with Mercado Libre
Full Year 2020 Highlights
- Revenue grew 5% to $510.6 million
- GAAP Net Income attributable to common shareholders was $104.4 million, or $1.43 per diluted share
- Adjusted EBITDA increased 6% to $240.5 million
- Adjusted earnings per common share was $2.07, or a 6% increase
- $21.7 million returned to shareholders through share repurchases and dividends
Mac Schuessler, President and Chief Executive Officer stated “Despite the pandemic, we achieved record results for 2020 and delivered on significant key product implementations in Latin America for Santander Chile, Citibanamex and more recently with Mercado Libre in Mexico. We also benefited from increases in our ATH Movil and ATH Movil Business as consumers embraced a transition to digital transactions.
Schuessler continued, “Looking to 2021, we expect trends with consumers, merchants and banks to drive further digitized commerce. These industry tailwinds combined with our continued focus on innovation and market expansion in Latin America, will fuel our growth both this year and beyond.”
You can read the complete report here: EVERTEC REPORTS FOURTH QUARTER AND FULL YEAR 2020 RESULTS