Travelex has reported a significant increase in their full-year results for 2023. The leading foreign exchange company’s underlying EBITDA increased by 156% to 58.8 million, a stark contrast to the 23.0 million reported in 2022. Similarly, revenue increased 24%, reaching a commendable 534.2 million.
This remarkable growth is largely ascribed to the post-pandemic recovery of the travel industry. Passenger numbers in airports where Travelex operates have rebounded to an impressive 87% of pre-pandemic levels. The company’s strategic investments in initiatives like the Travelex Money Card and app, along with expansion into new countries and an escalated presence in wholesale banknote trading, have further propelled this growth trajectory.
Travelex’s retail and outsourcing business has experienced a robust recovery, particularly in the Asia Pacific region….
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