Global Exchange Results: EBITDA of €13 million in 2016
14 • 03 • 2017
14 • 03 • 2017
Salamanca, 14th March 2017.- Global Exchange, Spanish multinational specialised in currency exchange services at international airports and major tourist attractions in five continents, ends 2016 with 13 million euros EBITDA and profit before taxes of 9.7 million euros.
In 2016 Global Exchange saw a business turnover of 826 million euros, 26.3% more than previous year. This figure has jumped thanks to the number of customers served, reaching 4.8 million customers around the globe.
In spite of the positive end-of-year results, external factors have hit hard on the company’s profit. Exchange rate differences and a strong investment in the international expansion to face the opening of 55 new branches meant a decrease of 2.3 million euros in the profit and loss account.
Global Exchange President Isidoro J. Alanís highlights the positive results of 2016 that saw an exponential growth by entering new strategic markets such as Australia, Denmark and Russia. “These three new openings reinforced our position as one of the three leading foreign exchange companies at a world level, present in the international airports of five continents” explained Alanís.
The company ended 2016 with 235 branches located in 55 international airports of 20 countries.
In 2016 the company started in Australia with 21 branches at Sydney International Airport while continuing expansion in Europe with openings in Denmark –at the airports of Copenhagen and Billund– and Russia, opening branches at the three main airports of the country, which confirms that the company is willing to invest in the old continent. Lastly, in Latin America, where Global Exchange is still the first foreign exchange company, new branches have been opened at Rio de Janeiro International Airport.
2016 has been the icing on the cake for a period of four years marked by a dramatic growth, as foreseen by the Strategic Plan of the company for 2012-2016 which has resulted in a very positive outcome. International expansion has been one of the leading guidelines for the Group, increasing from 12 to 20 countries in only four years. All of this has come along with an increase in the investment, ten-folded in the last four years, from 2 million in 2012 to 21.5 million in 2016. This is how the company has raised profit before taxes by 328% in the last four years, from 2.27 million euros in 2012 to 9.73 million euros in 2016. In this period staffing has three-folded to employ now over 1,900 people around the world, in line with the spectacular growth of the company.
Global Exchange is the third leading company in the world providing currency exchange services to tourists at international airports and other major tourist destinations. Founded in 1996 in Fuentes de Oñoro (Salamanca), Global Exchange is present in Brazil, Colombia, Costa Rica, Croacia, Denmark, Dominican Republic, Ecuador, Guatemala, Jamaica, Jordan, Mexico, Morocco, Nicaragua, Paraguay, Spain, Switzerland, Trinidad & Tobago, Uruguay and Russia, through a branch network of 235 branches in 55 international airports in five continents. The company serves around 4.8 million Customers annually and employs over 1,900 workers, 400 of which are based in Spain.
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