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Western Union reports $5.7bn revenue in 2012

Global payment company Western Union (WU) has reported revenue of $5.7bn for the full year of 2012, an increase of 3%, or 5% constant currency, compared to the same period earlier year.

Pro forma revenue increased by 1% on constant currency basis, including Travelex Global Business Payments during the prior year.

Operating margin stood at 23.5%, or 24.2% excluding TGBP integration expenses of $43m, compared to 25.2%, or 26.2% excluding restructuring expenses of $47m and TGBP integration expenses of $5m, during the year ago period.

EBITDA margin excluding TGBP integration expenses was 28.5%, versus 29.6% excluding restructuring expenses and TGBP integration expenses during the corresponding period last year.

For the year ended on 31 December 2012, other expense, net, of $161m, compared to $110m during the same period a year earlier.

Effective tax rate stood at 12.2%, compared to 8.6% in the prior year. The 2012 rate includes various benefits from favorable tax settlements and changes in the mix of foreign and US earnings and applicable tax rates.

In 2012, WU completed 231 million consumer-to-consumer transactions globally, moving $79bn of principal between consumers, and 432 million business payments.