Travelex Reports 160% YoY Jump in Q3 Revenues

Fazzaco learned that foreign exchange company Travelex Group has released its for the third quarter of 2022, revealing a rapid increase in revenues compared to the same period of 2021.

According to the offcial press release, Travelex generated revenues of £129.6 million in Q3 2020, 160% higher than the result reported for the same period in 2021 and 83% higher than that of Q3 2019. YTD revenues came in at £305.1 million, £196.2 million higher than 2021.

The Group also registered an underlying EBITDA of £17.2 million, increased by £24.3 million compared to Q3 2021. The year-to-date underlying EBITDA at the end of September stood at £18.9 million after nine months of 2022. ​Costs remain below 2019, driven by both rent and staff cost.

In addition, Travelex group expected its EBITDA for 2023 to be in the range of £60m – £70m, representing strong growth on 2022 for the business.