PayPoint

PAY · Main Market · Industrial Goods and Services · mcap £418m · 712.0p 3 open situations →

EV: £417m
EV / EBIT: 13.6x
Net cash: £37.8m
FCF yield: 2.4%
Revenue: £320m
Cash returned: 12.3%
Share price 1y: −2%
Insiders 12m: bought £334k
Next report: around 19 Nov

PayPoint runs a network of over 30,000 UK convenience stores offering bill payments, parcel collection and card services. It also owns Love2shop gift cards and savings, plus Open Banking and e-commerce parcel businesses.

Timeline · every situation

dots = announcements

202420252026 Capital Markets Day strategy update Buyback programme Royal Mail Shop rollout 2 directors buying G365 competition law claim 4 directors buying Profit upgrade Asteriscos Patrimonial SLU towards control Profit upgrade 3 directors buying 1 director buying

Open · 3

Turnaround plan with targets

Capital Markets Day strategy update

Held on 29 September 2026

Planned from January 2026 after the June results, the Capital Markets Day was held on 29 September 2026. It set out unit-level growth drivers and KPIs, kept the 5–8% net revenue growth ambition unchanged, and confirmed the £30m a year buyback to March 2028.

Financial framework: Leverage within target range; dividends moving towards about two times cover; £30m a year buyback to March 2028 29 Sep 2026 ↗
Reorganisation status: Largely complete; implemented in Q1 FY27 29 Jul 2026 ↗
Guidance: On track to meet market expectations for FY27; second-half weighted 29 Jul 2026 ↗
Network Services: Underlying net revenue growth target of 5–10% per annum 29 Sep 2026 ↗
Digital Payments & OB: More than 20% compound annual net revenue growth; revenue to more than double over four years 29 Sep 2026 ↗
Capital return: £30 million per annum buyback continues through to March 2028 29 Sep 2026 ↗

29 Sep 2026 Capital Markets Day held; unit targets and KPIs set
29 Jul 2026 Reorganisation largely complete; early positive signs
11 Jun 2026 Implementation under way; reporting on new structure
30 Mar 2026 Reorganisation announced; cost base review underway

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Capital return

Buyback programme

proposed

PayPoint: buyback programme of £25 million, 7.2% of the market value – proposed (1 Jul 2026).

1 Jul 2026 proposed

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Transformational contract / build-out

Royal Mail Shop rollout

8,500 sites live; kiosk pilot H1 FY27

Royal Mail Shop branding went live in October 2025 and has reached 8,500 sites, 3,000 of them with over-the-counter postage. Self-serve kiosks will now only be piloted in H1 FY27, later than the Q4 FY26 promise.

Sites live: 8,500, of which 3,000 with over the counter services
Next milestone: Kiosk pilot in H1 FY27

Next: pilot Royal Mail self-serve kiosks in selected locations

11 Jun 2026 8,500 sites live; kiosk pilot H1 FY27
28 Jan 2026 Branding live since October 2025; rollout continuing
20 Nov 2025 Over 3,000 sites live

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Closed · 8

Insider conviction2 directors buying £199k in 2 buys · 31 Mar 2026 – 15 Sep 2026 +18% Legal & regulatoryG365 competition law claim CAT judgment: liability found, minimal damages · 7 May 2026 – 7 May 2026 Insider conviction4 directors buying £193k in 4 buys · 20 Jun 2025 – 19 Feb 2026 −47% Upgrade / downgrade cycleProfit upgrade guidance raised · second in 12 months · 12 Jun 2025 – 10 Sep 2025 −46% Stake building towards controlAsteriscos Patrimonial SLU towards control no bid within a year · 1 Aug 2024 – 1 Aug 2025 +3% Upgrade / downgrade cycleProfit upgrade guidance raised · 29 Jan 2025 – 29 Apr 2025 +2% Insider conviction3 directors buying £58k in 3 buys · 27 Jun 2024 – 20 Nov 2024 +20% Insider conviction1 director buying £232k in 1 buy · 11 Dec 2023 – 10 Mar 2024 +20%

Company filings. Not investment advice.