Corrigendum

Cembra to acquire Byjuno to create a leading provider of invoice payment solutions in Switzerland - Seite 2

 

Creating a leading provider for invoice payment solutions

Cembra intends to combine Byjuno with its subsidiary Swissbilling to create a leading provider of invoice payment solutions with the aim to establish compelling solutions for online and point-of-sale checkouts for pay-by-invoice services in Switzerland. Offerings from both companies to about 1,200 merchants in Switzerland will be maintained, and customers will benefit from a broader range of products and services. Christian Stolz, CEO of Byjuno, will be appointed CEO of the combined business and work in tandem with Jean-Christophe Calmes, CEO of Swissbilling, who will act as Deputy CEO. As part of the transaction, Cembra and Intrum AG also agreed on a cooperation in BNPL debt collection activities and credit information.

 

Positive net income contribution from 2023 on

The transaction will accelerate Cembra’s strategy execution and target achievement in the BNPL business. Excluding one-off integration costs of CHF 4-5 million to be incurred over 2022 and 2023, Cembra expects annual incremental net income of at least CHF 6 million from 2023 on, and to achieve its CHF 10-20 million net income target for the BNPL business by 2026 at the latest. The purchase price amounts to CHF 60 million, and the transaction is expected to have an impact of about 1.0 percentage point on the Group's capital ratio at closing. Including the already announced impact of the CECL implementation, the Tier 1 capital ratio is expected to be slightly above the 17% mid-term target at 31 December 2022.

 

CEO Holger Laubenthal commented: “This transaction is an important step in delivering on our strategy and enhancing our embedded finance solutions. By bringing Swissbilling and Byjuno together, we will create a leading platform for billing solutions and pave the way to accelerate growth across our Embedded Finance product suite and BNPL. Together we can offer our partners a broader range of products and services, and consumers will benefit from even simpler and more flexible payment options. Our joint ambition will be to create compelling solutions for online and point-of-sale checkouts for pay-by-invoice services in Switzerland.”