Connect with us

Technology

Outokumpu financial statements release 2024 – Full-year adjusted EBITDA EUR 177 million with historically low stainless steel deliveries

Published

1 year ago

on

HELSINKI, Feb. 13, 2025 /PRNewswire/ — 

Highlights in Q4 2024

Stainless steel deliveries were 422,000 tonnes (450,000 tonnes)*.Adjusted EBITDA amounted to EUR -3 million (EUR 72 million).EBITDA was EUR -12 million (EUR 15 million).ROCE amounted to -1.2% (-2.1%).Free cash flow was EUR 33 million (EUR 156 million incl. discontinued operations).Earnings per share was EUR -0.07 (EUR -0.56).On October 1, 2024, Kati ter Horst started as the new President and CEO of Outokumpu.On December 12, 2024, Outokumpu issued a negative profit warning as its fourth-quarter adjusted EBITDA was expected to be close to break-even or turn negative.

Highlights in 2024

Stainless steel deliveries were 1,793,000 tonnes (1,906,000 tonnes)*.Adjusted EBITDA amounted to EUR 177 million (EUR 517 million).EBITDA was EUR 162 million (EUR 416 million).ROCE amounted to -1.2% (-2.1%).Free cash flow was EUR -71 million (EUR 290 million incl. discontinued operations).Earnings per share was EUR -0.09 (EUR -0.26)The impact of the political strike in Finland in the first half of 2024 was approximately EUR -60 million.The dividend of EUR 110 million from the year 2023 was paid in the second quarter.The most recent share buyback program was completed on February 29, 2024, and Outokumpu repurchased 8,357,545 shares during 2024.Outokumpu Board of Directors proposes that a dividend of EUR 0.26 per share to be paid for the year 2024 in two installments.

*Figures in parentheses refer to the corresponding period for 2023, unless otherwise stated.

Key figuresEUR million, or as indicated

Q4/24

Q4/23

Q3/24

2024

2023

Sales

1,405

1,513

1,518

5,942

6,961

EBITDA

-12

15

81

162

416

Adjusted EBITDA 1)

-3

72

86

177

517

Operating profit (EBIT)

-65

-314

32

-51

-100

Adjusted EBIT 1)

-58

13

31

-43

274

Result before taxes

-74

-320

22

-89

-133

Net result for the period

-32

-242

20

-40

-111

Earnings per share, EUR

-0.07

-0.56

0.05

-0.09

-0.26

Return on capital employed, rolling 12 months (ROCE), % 2)

-1.2

-2.1

-7.1

-1.2

-2.1

Capital expenditure

83

86

37

216

170

Free cash flow3)

33

156

-113

-71

290

Stainless steel deliveries, 1000 tonnes

422

450

459

1,793

1,906

Net result for the period from all operations incl. discontinued operations

-32

-242

20

-40

-106

1) Adjusted EBITDA or EBIT = EBITDA or EBIT – Items affecting comparability.

2) The balance sheet component in 2022 includes the equity component of discontinued operations.

3) The 2023 reference periods include discontinued operations.

During 2022, Outokumpu announced that it had signed an agreement to divest the majority of the Long Products business operations to Marcegaglia Steel Group and Outokumpu reclassified its Long Products businesses to assets held for sale and discontinued operations. The divestment was completed on January 3, 2023, and the gain on sale of EUR 5 million was reported in discontinued operations. In this report, all the comparative numbers are reported as continued operations without the impact of the gain on sale, if not otherwise stated.

President & CEO Kati ter Horst

In the challenging year 2024, we generated EUR 177 million of adjusted EBITDA in a weak market with high import pressure. Stainless steel demand in Europe was historically low. We maintained our leadership, securing the top market position in Europe and second place in North America.

During the current weak stainless steel cycle, we will focus on the factors we can control to improve profitability and maintain a healthy financial condition. I am pleased to acknowledge that our EUR 350 million EBITDA run-rate improvement actions are progressing well, and we achieved a EUR 101 million enhancement in 2024. In addition, we have initiated decisive short-term cost-saving measures of EUR 50 million to be delivered during 2025 and continue to work on our long-term plans to improve our competitiveness. Further, we have cut our planned capital expenditure to EUR 160 million for the year 2025. 

Despite weak earnings in a challenging market environment, our financial position remained strong. Therefore, the Board of Directors is proposing a dividend of EUR 0.26 per share, to be paid in two installments. I am pleased that we can reward our shareholders for their commitment to Outokumpu.

We have actively managed our working capital, net debt and liquidity, and we will continue to do so. At year-end, our inventory levels were higher than usual as we prepared for the union strikes in Finland, which started at the end of January. These strikes are very unfortunate for the Finnish industry, including Outokumpu.

In the fourth quarter of 2024, Outokumpu’s adjusted EBITDA decreased to EUR -3 million and deliveries fell by 8% compared to the previous quarter.

In business area Europe, adjusted EBITDA decreased to EUR -32 million, and stainless steel deliveries fell by 9% compared to the previous quarter. This is a disappointing result for our biggest business area, and the adverse development was mainly driven by weaker-than-expected market conditions. Poor demand and increased imports have kept prices low. The European Union must be fast to react and protect its critical steel industry from unfair competition – current trade measures are not enough. For more favorable markets, interest rates should continue to decrease, as well as consumer confidence and industrial activity to pick up.

In business area Americas, adjusted EBITDA was EUR 9 million, and stainless steel deliveries decreased by 7% compared to the previous quarter. The manufacturing sector continues to be subdued, and a stimulus is expected to come from growth supported by increased domestic production and infrastructure investments.

Business area Ferrochrome’s adjusted EBITDA improved to EUR 33 million. Demand for our low emission, European ferrochrome has remained favorable, even in a challenging market environment. At the beginning of this year, we were able to increase our mineral reserves at the Kemi mine by 95% based on new underground drilling, proving that the ground in the mine area is rich in chrome ore. It is especially gratifying that we have secured the ore availability until the 2050s, and no further major investments are needed.

I am proud that we maintained our world-class safety performance of 1.5 TRIFR in 2024. Outokumpu is also making good progress with its smart decarbonization strategy. Our target is to decrease emission intensity by 42% by 2030 from the 2016 baseline. By the end of last year, we had reached a 32% reduction and maintained a high recycled material content of 95%. We have advanced with our actions to lower direct emissions in ferrochrome production by replacing fossil coke with biocoke and decided to invest EUR 40 million in a biocarbon plant in Germany.

Today, we announced some strategic decisions. In this market environment, Outokumpu is currently not proceeding with a cold rolling investment in the U.S. However, our long-term view on the U.S. market remains positive. In addition, we are no longer planning to move forward with the Small Modular Reactor (SMR) development in Tornio, Finland. Energy is not Outokumpu’s core business, but we are looking for a partner that is interested in investing in energy production next to our site.

I am excited to have Matthieu Jehl joining Outokumpu’s Leadership Team as the President of business line Stainless Europe. He is a strong leader and has extensive experience in related industries.

In the short term, we are implementing measures to handle this low point of the demand cycle and to secure the financial strength of Outokumpu. At the same time, we are working on the next strategy phase which we will publish in our next Capital Markets Day in June 2025. I want to thank our employees for their efforts and commitment, our customers for their business and trust, our suppliers for their co-operation, and our shareholders for their continuous support.

Outlook for Q1 2025

Group stainless steel deliveries in the first quarter are expected to increase by 10–20% compared to the fourth quarter (including the impact of a one week’s strike), while pressure on realized stainless steel prices is expected to continue during the first quarter.

Maintenance costs are forecasted to decrease by approximately EUR 10 million in the first quarter compared to the fourth quarter.

The one-week strike in Finland in January is expected to have an approximately EUR -15 million impact on adjusted EBITDA in the first quarter.

The risk of further strikes causes uncertainty for Outokumpu’s earnings development in the first quarter. The impact of each additional week of strike is expected to be approximately EUR -15 million on adjusted EBITDA.

With the current raw material prices, some raw material-related inventory and metal derivative losses are forecasted to be realized in the first quarter

Guidance for Q1 2025:

Adjusted EBITDA in the first quarter of 2025 is expected to be higher compared to the fourth quarter. This guidance includes the impact of the one-week strike.

Results

Q4 2024 compared to Q4 2023

Outokumpu’s sales in the fourth quarter of 2024 decreased to EUR 1,405 million (EUR 1,513 million). Total stainless steel deliveries were 6% lower compared to the previous year. The decrease was driven by an adverse development in business area Europe as stainless steel deliveries in business area Americas slightly increased.

Adjusted EBITDA in the fourth quarter of 2024 was EUR -3 million (EUR 72 million). On top of lower volumes, profitability was negatively impacted by both lower realized prices for stainless steel in Europe and Americas as well as negative raw material impacts. Costs increased in business areas Europe and Americas, and were impacted by under absorption of fixed costs due to lower production volumes. Profitability was, however, supported by the improved profitability of business area Ferrochrome. Raw material-related inventory and metal derivative gains were EUR 4 million (gains of EUR 0 million).

EBIT was EUR -65 million in the fourth quarter of 2024 (EUR -314 million). EBIT in the comparison period was impacted by items affecting comparability mainly related to impairments and German restructuring. ROCE for rolling 12 months was -1.2% (-2.1%). The comparison period was affected by the significant impairment booking related to the renegotiated hot rolling contract in business area Americas at the end of 2023.

Net result was EUR -32 million in the fourth quarter of 2024 (EUR -242 million) and earnings per share was EUR -0.07 (EUR -0.56). Net financial expenses in the fourth quarter of 2024 were EUR 10 million (EUR 6 million) and interest expenses EUR 16 million (EUR 14 million).

Q4 2024 compared to Q3 2024

Outokumpu’s sales decreased to EUR 1,405 million in the fourth quarter of 2024 (Q3/2024: EUR 1,518 million). Total stainless steel deliveries were 8% lower compared to the previous quarter as deliveries decreased in both business areas, Europe and Americas.

Adjusted EBITDA was EUR -3 million in the fourth quarter (Q3/2024: EUR 86 million). The decrease in profitability was mainly driven by weaker-than-expected market and adverse development in business area Europe. Realized prices for stainless steel decreased in Europe, while remaining relatively stable in Americas. Profitability was affected by negative raw material impacts and higher variable costs. Also fixed costs in business area Europe increased, mainly due to prolonged maintenance work in Tornio, Finland. Profitability was, however, supported by an improved result for business area Ferrochrome. Raw material-related inventory and metal derivative gains were EUR 4 million in the fourth quarter (Q3/2024: gains of EUR 10 million).

EBIT was EUR -65 million in the fourth quarter of 2024 (Q3/2024: EUR 32 million). ROCE for the rolling 12 months was -1.2% (Q3/2024: -7.1%). ROCE in the comparison period was affected mainly by the significant impairment booking related to the renegotiated hot rolling contract in business area Americas at the end of 2023 and German restructuring.

Net result in the fourth quarter was EUR -32 million (Q3/2024: EUR 20 million) and earnings per share was EUR -0.07 (Q3/2024: EUR 0.05). Net financial expenses were EUR 10 million (Q3/2024: EUR 11 million) and interest expenses EUR 16 million (Q3/2024: EUR 15 million).

2024 compared to 2023

During 2024, Outokumpu’s sales decreased to EUR 5,942 million (EUR 6,961 million). Total stainless steel deliveries were 6% lower compared to the previous year. Deliveries in business area Europe decreased significantly due to weaker market environment and the political strike in Finland. Deliveries increased in business area Americas but remained still at a low level.

Adjusted EBITDA was EUR 177 million in 2024 (EUR 517 million). Profitability was impacted by notably lower realized prices for stainless steel in both Europe and Americas and the unfavorable effects resulting from a tighter scrap market. Costs remained stable compared to the previous year as the positive impact from lower energy and consumable prices in business area Europe was offset by higher fixed costs and tolling fee in business area Americas. Profitability was, however, supported by an improved result for business area Ferrochrome.

The impact of the political strike on adjusted EBITDA was approximately EUR -60 million in the first half of the year. Due to the political strike, the majority of Outokumpu’s stainless steel and ferrochrome operations in Finland as well as the Port of Tornio in Finland were shut down for four weeks. The strike also indirectly impacted the company’s operations in other countries through the disruption to internal material flows in both, Europe and Americas.

Raw material-related inventory and metal derivative gains were EUR 3 million in 2024 (losses of EUR 44 million).

EBIT was EUR -51 million (EUR -100 million) in 2024. EBIT in the comparison period was impacted by items affecting comparability mainly related to impairments and German restructuring. ROCE for the rolling 12 months was -1.2% (-2.1%), mainly due to weaker profitability. ROCE in the previous year was affected by the significant impairment booking related to the renegotiated hot rolling contract in business area Americas at the end of 2023.

Net result was EUR -40 million (EUR -111 million) in 2024 and earnings per share was EUR -0.09 (EUR -0.26). Net financial expenses were EUR 41 million (EUR 37 million) and interest expenses EUR 64 million (EUR 60 million).

Adjusted EBITDA by segment EUR million

Q4/24

Q4/23

Q3/24

2024

2023

Europe

-32

4

59

58

148

Americas

9

54

5

59

285

Ferrochrome

33

23

29

106

96

Other operations and intra-group items

-13

-8

-8

-46

-12

Total adjusted EBITDA

-3

72

86

177

517

Items affecting comparability in EBITDA EUR million

Q4/24

Q4/23

Q3/24

2024

2023

Europe

-1

-46

-4

-3

-52

Americas

-8

-7

—

-8

-16

Ferrochrome

—

-3

—

—

-3

Other operations

0

-1

0

-4

-31

Total items affecting comparability in EBITDA

-8

-58

-5

-15

-102

Total EBITDA

-12

15

81

162

416

More information on items affecting comparability see Reconciliation of key figures to IFRS.

A live webcast and conference call today, February 13, at 3.00pm EET

A live webcast and conference call to analysts, investors and representatives of media will be arranged today at 3.00 pm EET at https://outokumpu.events.inderes.com/q4-2024 hosted by President and CEO Kati ter Horst and CFO Marc-Simon Schaar.

To ask questions, please participate in the conference call by registering at https://events.inderes.com/outokumpu/q4-2024/dial-in. After registration you will receive phone number and a conference ID to access the conference call. If you wish to ask a question, please dial *5 on your telephone keypad to enter the queue.

All the interim report materials, a link to the webcast and later its recording will be available at www.outokumpu.com/en/investors.

For more information:

Investors: Linda Häkkilä, Head of Investor Relations, tel. +358 400 719 669
Media: Päivi Allenius, SVP – Communications and Brand, tel. +358 40 753 7374, or Outokumpu media desk, tel. +358 40 351 9840, e-mail media(at)outokumpu.com

Outokumpu Corporation

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/outokumpu-oyj/r/outokumpu-financial-statements-release-2024—full-year-adjusted-ebitda-eur-177-million-with-histori,c4105017

The following files are available for download:

https://mb.cision.com/Main/18751/4105017/3263262.pdf

Financial statements release 2024

 

View original content:https://www.prnewswire.com/news-releases/outokumpu-financial-statements-release-2024–full-year-adjusted-ebitda-eur-177-million-with-historically-low-stainless-steel-deliveries-302375712.html

SOURCE Outokumpu Oyj

Related Topics:
Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

Northern Hemisphere Heat Drives Demand for Cooling and Sun-Protection Products on Yiwugo

Published

7 minutes ago

on

July 24, 2026

By

YIWU, China, July 24, 2026 /PRNewswire/ — Yiwugo.com, the official website of the Yiwu Commodity Market, is the largest commodity wholesale market in the world. The final whistle may have blown on the World Cup, but the intense heat gripping the Northern Hemisphere shows no sign of letting up. Europe has experienced unusually hot weather this year, sparking not only a surge in demand for air conditioners but also a boom in portable handheld fans. Merchants on Yiwugo say that in previous years, European customers would begin placing orders in March or April and take their time completing their annual procurement. This year, however, the purchasing season has stretched well into summer, with a flood of new buyers coming in, most of them looking for small handheld fans. With customers eager to capitalize on the peak summer season, delivery timelines have also become significantly tighter. Whereas orders in previous years could generally be fulfilled within a month, merchants are now frequently being asked to deliver within about a week, leaving manufacturers scrambling to keep pace with demand.

Lingpan Official Flagship Store has specialized in the production and sales of small fans, insulated cups, and related products for 15 years. This summer, demand from European customers for high-speed small fans has risen sharply, accompanied by urgent delivery requirements. Many customers began requesting shipment just one week after placing their orders, hoping the products would arrive in time for the World Cup and the ongoing heatwave across Europe. One long-standing European customer purchased only five models of small fans from Lingpan last year. Anticipating stronger demand ahead of this summer, the customer expanded the order to 10 models. The first shipment sold out soon after arriving at port, prompting several subsequent repeat orders. European buyers have shown particular interest in high-speed cooling fans and placed great requirements on product quality. So far this year, Lingpan’s fan sales have more than doubled compared with the same period last year, with total purchases reaching approximately RMB 1 million.

Beyond Europe, the owner of Lingpan, Ling Pan pointed out that the Indian market has also undergone significant changes over the past two years. Indian customers are showing great interest in panda-shaped fans, drinking cups, and related products. Procurement volumes among many Indian buyers have increased substantially, with average annual purchases now reaching several hundred thousand yuan.

Unlike European countries grappling with sudden heat waves, Asian markets such as Japan and South Korea, where summers are consistently hot and air conditioners and fans are already everyday essentials, have shown much stronger demand for sun-protection products. From April 1, 2026 to date, sales of sun-protection masks on Yiwugo have increased by 31.6% YoY, while sales of sun-protection face shields surged by 72.42% and sun hats rose by 8.1%.

Chen Jia, a Yiwugo merchant, has engaged in the production and sales of sun-protection masks and sun-protection face shields for eight years. Chen operates the Xiao Zhen and Xiao Mian Sun-Protection Products Workshop in District 4 of the Yiwu International Trade Market. In recent years, the company has customized cooling nylon fabrics for customers in Japan and South Korea. Sun-protection masks and sun-protection face shields made from this material not only offer UPF 50+ protection, but also maintain a more structured shape and are less susceptible to snagging or deformation. Their protective performance remains effective after routine washing, and the products can last for more than five years under normal use.

In 2024, a TV shopping operator from South Korea contacted Xiao Zheng and Xiao Mian through Yiwugo and began placing orders after inspecting the products in person. Over the following two years, the company continued to improve the fitness and design of its sun-protection products. It introduced sun-protection face shields with breathable mesh panels and incorporated soft supports around the nose area to prevent the masks from rubbing against lipstick. These product upgrades have steadily driven up customer ratings on the client’s store. Annual procurement, initially valued at around RMB 300,000, has risen year by year, and the company has since developed into a recognized brand in the local market.

Persistent heat across the Northern Hemisphere has been creating new forms of cross-border consumer demand while enabling Yiwugo merchants to keenly capture shifts in overseas markets. From the strong sales of small portable fans in Europe to the rising demand for functional sun-protection products in Japan and South Korea, the diversity of orders reflects both consumers’ need for relief from extreme heat and the ability of Yiwu manufacturers to strengthen their presence in global markets through product innovation and rapid fulfillment. Faced with a rapidly changing international market, many merchants are continuing to refine product designs, upgrade fabric techniques, and enhance supply efficiency. By leveraging Yiwugo to broaden their export channels, they are keeping pace with overseas consumption trends and capitalizing on the expanding market for cooling and sun-protection products, turning the summer heat into new momentum for cross-border trade.

View original content to download multimedia:https://www.prnewswire.com/news-releases/northern-hemisphere-heat-drives-demand-for-cooling-and-sun-protection-products-on-yiwugo-302833166.html

SOURCE Yiwugo.com

Continue Reading

Technology

Snorkel AI Highlights First Wave of Open Benchmarks Grants Projects

Published

7 minutes ago

on

July 24, 2026

By

SAN FRANCISCO, July 24, 2026 /PRNewswire/ — Snorkel AI today highlighted the first group of projects supported through Open Benchmarks Grants, a $3 million commitment to support open-source datasets, benchmarks, and evaluation research.

Launched in February 2026, Open Benchmarks Grants has received hundreds of applications from researchers, labs, and engineers working to address a growing challenge: AI systems are advancing faster than the field’s ability to rigorously measure their performance on realistic, consequential work.

“From complex environments and huge autonomy horizons to rich, sophisticated outputs, these projects tackle some of the field’s hardest evaluation challenges,” said Fred Sala, a member of the Open Benchmarks Grants steering committee and assistant professor at the University of Wisconsin–Madison. “I’m excited to see the broader research community use, validate, and build on them.”

Open Benchmarks Grants provides selected teams with funding, expert data development support, research and engineering collaboration, and platform resources. Supported projects include:

Frontier-Bench (formerly Terminal-Bench 3.0), developed with Laude Institute and the Harbor community, is a harder, more domain-diverse successor to Terminal-Bench 2.1 — built in the open, task by task, under continuous adversarial review.Agents’ Last Exam, developed with UC Berkeley RDI and the RDI Foundation, evaluates agents on long-horizon, economically valuable professional workflows. It spans 55 sub-industries and includes more than 1,500 tasks toward a 5,000-task target, sourced and validated by more than 300 industry experts.OSWorld 2.0, developed with XLANG Lab, evaluates computer-use agents on 108 long-horizon workflows across 31 self-hosted web environments and professional desktop applications.Continual Learning Bench, developed with UC Berkeley SkyLab and the University of Wisconsin–Madison, measures whether agents genuinely improve across sequential, stateful tasks.SlopCode Bench, developed with the University of Wisconsin–Madison, measures how code quality degrades as coding agents repeatedly modify and extend their own solutions.Terminal-Bench 2.1, developed with Stanford University, Laude Institute and the Harbor community, evaluates agents on challenging work in terminal environments. The release corrected 28 tasks and introduced continuous validation.

With support from Open Benchmarks Grants, Terminal-Bench Science is also now in development, extending the Terminal-Bench framework to computational research workflows across the life, physical, earth, and mathematical sciences.

Beyond the grants program, Snorkel led the development of Senior SWE-Bench with the research teams at Princeton University and the University of Wisconsin–Madison. The benchmark evaluates coding agents on senior-level engineering work, including implementing features from realistic instructions, investigating bugs that require runtime analysis, and producing code that follows existing codebase conventions.

Open Benchmarks Grants was established with support from Hugging Face, Prime Intellect, Together AI, Factory, Harbor, and PyTorch. Applications remain open and are reviewed on a rolling basis.

Learn more and apply for a grant at benchmarks.snorkel.ai.

About Snorkel AI
Snorkel AI is the frontier AI data lab, helping teams build the data and environments behind high-performing frontier and agentic AI. We combine technology with research-driven AI data development to create datasets, benchmarks, evals, and custom solutions for real-world AI systems. Founded out of the Stanford AI Lab in 2019, Snorkel works with leading AI labs and enterprises to move from better data to better outcomes. 

media@snorkel.ai

View original content to download multimedia:https://www.prnewswire.com/news-releases/snorkel-ai-highlights-first-wave-of-open-benchmarks-grants-projects-302833805.html

SOURCE Snorkel AI

Continue Reading

Technology

Payzli Vaults to No. 3 on Tampa Bay’s Fast 50, Up From No. 22 in One Year

Published

7 minutes ago

on

July 24, 2026

By

Payments technology company, Payzli earns a second consecutive Fast 50 ranking, crediting the climb to accelerating partner and merchant growth on its proprietary technology stack.

TAMPA, Fla., July 24, 2026 /PRNewswire/ — Payzli, the partner-first payments technology company, has been named the No. 3 fastest-growing company in the region on the Tampa Bay Business Journal’s 2026 Fast 50 – a 19-spot climb from its No. 22 debut last year, and the company’s second consecutive year on the list.

The ranking was announced July 23 at the Tampa Bay Business Journal’s Fast 50 event in Tampa, where Co-Founder and Chief Revenue Officer Naim Hamdar accepted the award alongside members of the Payzli team.

Payzli attributed its growth to a compounding effect: a national network of ISOs, agents and ISVs bringing merchants onto a technology platform Payzli built and operated in-house. 

That platform rests on three proprietary pillars:

Payzli Connect: the company’s payment CRM and merchant-and-partner dashboard, giving agents and ISOs daily residuals visibility and giving merchants a single place to run their account.Payzli POS: AI-powered point-of-sale and business software purpose-built for service businesses, including salons, med spas, wellness studios, and independent operators.Payzli Transact: an online payment gateway built on Visa Platform Connect through Payzli’s partnership with Visa Acceptance Solutions.

The Visa Acceptance Solutions partnership is central to how Payzli frames its credibility: rather than assembling a growth story on top of borrowed infrastructure, the company processes on rails backed by one of the most established networks in the industry alongside Fiserv and TSYS – a point that matters to the partners and merchants deciding where to place their volume.

“A second year on this list, and a jump to No. 3, isn’t about one good quarter. It’s about a network deciding to build with us and stay,” said Naim Hamdar, Co-Founder and Chief Revenue Officer of Payzli. “Every rank on this list represents partners we’ve earned and merchants who trust us to run their payments. We built the technology in-house so we could keep the promises the industry usually breaks: nothing hidden, a real person in reach, and daily residual visibility our agents can actually count on. That’s what this ranking measures and it’s why we’re doing it all, for the joy of business.”

“They say nothing in Tampa moves fast except the afternoon thunderstorms, so making the Fast 50 two years running feels pretty good,” said Kapil Pershad, Co-Founder and Chief Technology Officer of Payzli. “In all seriousness, this is a credit to our team and the businesses that trust us to power their growth.”

The Fast 50, produced by the Tampa Bay Business Journal, recognizes the fastest-growing private companies in the Tampa Bay region. Payzli’s return to the list and its move into the top three reflects a merchant-first product suite and a rapidly expanding national partner network across the payments and embedded-finance landscape.

About Payzli

Payzli is an end-to-end payments technology partner that makes accepting payments simpler and affordable for businesses of all sizes and risk levels. Founded in 2020 and headquartered in Tampa, Florida, Payzli brings together in-person processing, an advanced online gateway, AI-powered point of sale, and mobile and contactless payments – backed by its own technology, honest pricing, and dedicated human support. Built partner-first, Payzli equips ISOs, agents, developers, and independent software vendors to grow, with direct integrations to major processing platforms, in-house underwriting, a flexible credit policy, a Visa Acceptance Solutions foundation partnership, and sponsor-bank backing from Esquire Bank, a NASDAQ-listed strategic investor in Payzli. For more information, email partners@payzli.com or visit payzli.com.

Payzli is a registered trademark of United Payment Systems LLC. United Payment Systems LLC is a registered ISO of Esquire Bank (Jericho, NY), Commercial Bank of California (Irvine, CA), and KeyBank, National Association (Cleveland, OH).

View original content to download multimedia:https://www.prnewswire.com/news-releases/payzli-vaults-to-no-3-on-tampa-bays-fast-50-up-from-no-22-in-one-year-302834198.html

SOURCE Payzli

Continue Reading

Trending