Nexi 3Q Earnings, Revenue Rose as Digital Payments Pick Up

   By Mauro Orru 
 

Nexi SpA said Thursday that earnings and revenue rose in the third quarter, with trends showing an acceleration of digital payments across sectors and geographies.

The Italian payments company said earnings before interest, taxes, depreciation and amortization rose to 316.7 million euros ($363.7 million) from EUR276.3 million in the third quarter last year.

Revenue for the period climbed to EUR598.9 million from EUR544.2 million. Nexi's merchant services and solutions business reported a 12.2% revenue increase to EUR375.4 million.

Total costs rose to EUR282.2 million from EUR267.8 million.

Nexi said that acquiring volumes in Italy continued to accelerate, with Italian cards showing growth from 20% to 25% compared with pre-Covid-19 levels.

Acquiring volumes in the Nordics came back to positive growth in September from pre-Covid-19 levels, while acquiring volumes in the DACH region--encompassing Germany, Austria, and Switzerland--are still recovering, Nexi said.

For the year, Nexi continues to expect revenue growth of about 10%, and Ebitda growth between 11% and 13%.

At 1150 GMT, Nexi shares traded 3.3% higher at EUR15.17.

Write to Mauro Orru at [e-mail]; @MauroOrru94

(END) Dow Jones Newswires

November 11, 2021 07:08 ET (12:08 GMT)

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