The company said consolidated revenues were $3,757.7 million in 2023, up 9.6% from the prior year. It attributed the increase to organic growth of 10% and a contribution of 2% from acquisitions, and said these were partly offset by a 1% reduction from the macroeconomic environment and a decrease of about $50 million (1%) from the disposition of its Russia business.

1. 01

   The company said consolidated revenues were $3,757.7 million in 2023, up 9.6% from the prior year. It attributed the increase to organic growth of 10% and a contribution of 2% from acquisitions, and said these were partly offset by a 1% reduction from the macroeconomic environment and a decrease of about $50 million (1%) from the disposition of its Russia business.

2. 02

   The company completed the sale of its Russia business on August 15, 2023 and recorded total proceeds of $197.0 million, net of cash disposed and of a $5.6 million foreign exchange loss, within investing activities. It said it recognized a net gain on disposal of $13.7 million, and its net income for 2023 was $981.9 million, up 2.9% from the prior year.

3. 03

   The company said Vehicle Payments revenues were $2.0 billion (+2.8%) in 2023, Corporate Payments revenues were $981.1 million (+27.5%), and Lodging Payments revenues were $520.2 million (+14.0%). Operating income was $943.4 million, $382.1 million and $254.3 million, respectively.

4. 04

   The company said its total liquidity was approximately $2.2 billion as of December 31, 2023, consisting of approximately $0.8 billion available under its Credit Facility and unrestricted cash of $1.4 billion. It repurchased 2,597,954 shares of its common stock for approximately $0.7 billion in 2023, and the maximum remaining authorization under the program was $1.6 billion.

Key figures

Fiscal year ended December 31, 2023

Revenue

$3.8B

Operating income

$1.7B

Net income

$982M

EPS

$13.20

Operating cash flow

$2.1B

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.