Corrigendum

Cembra to acquire Byjuno to create a leading provider of invoice payment solutions in Switzerland

Cembra Money Bank AG / Key word(s): Miscellaneous Corrigendum: Cembra to acquire Byjuno to create a leading provider of invoice payment solutions in Switzerland 30-Sep-2022 / 18:25 CET/CEST Release of an ad hoc announcement pursuant to Art. 53 LR The issuer is solely responsible for the content of this announcement. Corrigendum to the ad hoc announcement of 30 September 2022 (p. 2, last paragraph): Cembra expects Q3 net revenues to increase by 3% year on year, with commission and fee income increasing by about 10% (and not by 20% as inadvertently stated). The full text of the corrected announcement is as follows:

 

Ad hoc announcement pursuant to Art. 53 LR

• Cembra has agreed to acquire Byjuno, a major provider of invoice payment solutions in Switzerland, as a further step in expanding its embedded finance product suite and its buy now pay later business
• Cembra intends to combine Byjuno with its subdsidiary Swissbilling to create a leading provider for invoice payment solutions in Switzerland
• Purchase price of CHF 60 million, and positive net income contribution from 2023 on 
• Trading update: Cembra’s positive performance continues in the third quarter
• Outlook 2022 and mid-term targets confirmed 

Cembra has signed a share-purchase agreement to buy Byjuno AG and its sister company Intrum Finance Services AG from Intrum AG. Byjuno is a major provider of invoice payment solutions in Switzerland with a billing volume of CHF 408 million in 2021 and financing receivables of CHF 39 million as per end of 2021. The transaction is expected to close in the fourth quarter of 2022 subject to customary closing conditions.

Adding profitable growth to the buy now pay later business

With this acquisition, Cembra is taking another step to deliver on its strategy of expanding its embedded finance solutions, with payment and financing options directly integrated into partner and customer journeys. Payment by invoice is the most popular remote selling payment form in Switzerland, with billing solutions and buy now pay later (BNPL) services set to become more important at both traditional points of sale and online shops. Cembra continues to expect double-digit growth in this market in Switzerland.