Italian payments group Nexi reports 7.1% increase in the first quarter revenue

Published on : Saturday, May 14, 2022

Italian payments group Nexi stuck to its 2022 viewpoint after reporting a 7.1% increase in the first quarter revenue,with recovering tourist streamsdriving “higher impact” transactions like hotel bills.

Nexiis among Europe’s biggest payments firms along with France’s Worldline. It said that volumes at its merchants’ transactions business increased 38% in April, which is a 162% surge in big ticket items majorly connected with travel.

The travel component in Nexi’s merchant acquiring business bounced back in the first quarter accounting for three-quarters of the group’s prior to the pandemic volume levels.

First quarter revenue totalled 712.6 million euros in spite of Italy easing COVID-19 restrictions much late compared to other countries.

Earnings before interest, tax, depreciation and amortization increased 17.4% year-on-year to 307.5 million euros. The EBITDA margin improved by 4 percentage points compared to a year ago to 43%.

Nexi said thatexcludingdeterioration in the Ukraine crisis and assuming a decline of the pandemic in the second quarter of this year, it hopes to seerevenue grow between 7% and 9% in this entire year with the core profit going up between 13% and 16%.

Nexihas been expanding fast with the help of acquisitions. Last year, it completed a merger with domestic rival SIA and Nordic peer Nets, said that it had acquired 100% of Orderbird, a German company supplying cloud-based software services to businesses in the hospitality sector to take care of bookings, for instance.

The overall investment is of 100 million euros considering the stakes that Nexi had attained previously.

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