Nexi posts Q1 core profit above company-provided consensus
May 8(Reuters) - Italian payments group Nexi (NEXII.MI), opens new tab on Thursday posted a 7% rise in its first-quarter core profit, topping a company-provided consensus.
Nexi's quarterly core profit totalled 386.9 million euros ($437.85 million), beating a consensus of 381 million euros.
The Reuters Tariff Watch newsletter is your daily guide to the latest global trade and tariff news. Sign up here.
Core profit margin came in at 48%, up 149 basis points compared to last year.
Nexi also reaffirmed its 2025 guidance, targeting low-to-mid single-digit net revenue growth and at least a 50 basis point expansion in core profit margin.
The company said it would start the already announced 300-million-euro buyback program on May 21 and pledge to use existing excess cash to pay back around 507 million euros in debt due in June and December.
Nexi had already said in late April that quarterly revenue were up 3.7% over the previous year, but now added the main push came from the merchant solution division, which represents 56% of group's total revenue, and grew 4.5% to 457.5 million euros.
Shares of European payments firms, which surged during the COVID-19 digital payments boom, have since dropped sharply, weighed down by compliance concerns after German regulators cracked down on Worldline (WLN.PA), opens new tab in 2023.
The French group on April 24 postponed its annual financial outlook update until July, citing its new management and increased global economic volatility.
($1 = 0.8836 euros)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Daily Mail
25 minutes ago
- Daily Mail
BREAKING NEWS Blow for Rachel Reeves as unemployment creeps up and wage growth slows on the eve of Chancellor's spending review
The rate of UK unemployment increased to 4.6 per cent in the three months to April, from 4.5 per cent in the three months to March, the Office for National Statistics said today. Meanwhile UK average regular earnings growth decreased to 5.2 per cent in the three months to April and was 2.1 per cent higher after taking Consumer Prices Index inflation into account. It comes ahead of Chancellor Rachel Reeves announcing the Government's latest spending review tomorrow. More to follow This graph shows the average weekly earnings annual growth rates, seasonally adjusted, from 2001 to present. The latest growth rate decreased to 5.2 per cent in the three months to April
The Guardian
28 minutes ago
- The Guardian
US-China trade talks to resume; UK jobs market ‘weakening' as payrolls tumble
Update: Date: Title: Introduction: US-China trade talks resume in London Content: Good morning, and welcome to our rolling coverage of business, the financial markets and the world economy. Trade talks between the US and China are set to resume in London today, as officials push for a breakthrough over shipments of technology and rare earth elements. After more than six hours of talks on Monday, negotations will resume at Lancaster House later this morning. Investors are hopeful of a breakthrough that could continue to ease tensions between the two economic superpowers. President Donald Trump has indicated that the first day of talks were encouraging. He told reporters that 'We are doing well with China. China's not easy….I'm only getting good reports.' The US are unhappy that China has not released crucial rare earth minerals, and magnets, as rapidly as hoped since the two countries agreed an initial trade pact in Geneva a month ago. Treasury secretary Scott Bessent told reporters in London they had a 'good meeting', Bloomberg reports, while commerce secretary Howard Lutnick called the discussions 'fruitful.' 7am BST: UK labour market report 10.15am BST: FCA CEO Nikhil Rathi and FCA chair Ashley Adler testify to Treasury Committee 2.30pm BST: World Bank to release latest economic forecasts Update: Date: 2025-06-10T06:23:19.000Z Title: UK payrolls fall 'notably' in May Content: Newsflash: The number of people on payrolls across the UK has fallen notably, in a sign that the jobs market is weakening. The latest labour force statistics, just released, show that payrolled employment decreased by 109,000 employees (0.4%) in May, compared with April. On an annual basis, there were 274,000 fewer employees last month, compared with May 2024, pulling total payrolls down to 30.2 million. The Office for National Statistics does caution that these estimates are more uncertain than usual; if they're accurate, though, it indicates that demand for workers at British firms is cooling. The revised estimate of employees on the payroll in April 2025 was down 55,000 on the month. The provisional estimate for May 2025 was down another 109, more about this release ➡ The largest decrease was in the accommodation and food service activities sector, a fall of 124,000 employees in the last year, while health and social work added 62,000 employees. ONS director of economic statistics Liz McKeown says: 'There continues to be weakening in the labour market, with the number of people on payroll falling notably. Feedback from our vacancies survey suggests some firms may be holding back from recruiting new workers or replacing people when they move on. Update: Date: 2025-06-10T06:22:54.000Z Title: Introduction: US-China trade talks resume in London Content: Good morning, and welcome to our rolling coverage of business, the financial markets and the world economy. Trade talks between the US and China are set to resume in London today, as officials push for a breakthrough over shipments of technology and rare earth elements. After more than six hours of talks on Monday, negotations will resume at Lancaster House later this morning. Investors are hopeful of a breakthrough that could continue to ease tensions between the two economic superpowers. President Donald Trump has indicated that the first day of talks were encouraging. He told reporters that 'We are doing well with China. China's not easy….I'm only getting good reports.' The US are unhappy that China has not released crucial rare earth minerals, and magnets, as rapidly as hoped since the two countries agreed an initial trade pact in Geneva a month ago. Treasury secretary Scott Bessent told reporters in London they had a 'good meeting', Bloomberg reports, while commerce secretary Howard Lutnick called the discussions 'fruitful.' 7am BST: UK labour market report 10.15am BST: FCA CEO Nikhil Rathi and FCA chair Ashley Adler testify to Treasury Committee 2.30pm BST: World Bank to release latest economic forecasts
Sky News
32 minutes ago
- Sky News
Jobless rate above predicted peak as budget tax hikes kick in
The UK's jobless rate ticked up to 4.6% in April while payrolled employment has fallen sharply since, according to official figures covering the period when budget tax hikes on businesses came into effect. The Office for National Statistics (ONS) said the new unemployment rate covered the three months to April. It had previously stood at 4.5% - a total of more than 1.6 million people. At 4.6%, it is above the peak level predicted for this year, just in March, by the Office for Budget Responsibility. Figures from the taxman also highlighted by the ONS showed the number of people in payrolled employment during May fell by 109,000 - double April's revised figure of 55,000. The ONS Labour Force Survey data was the first to cover April's rises in employer national insurance contributions and the national living wage - hikes to costs for businesses which lobby groups had warned would result in job losses, price rises and lower wage settlements. The ONS figures showed average weekly earnings, excluding the effects of bonuses, over the three months to April were down from 5.6% to 5.2% year on year. Despite the easing, that level remains comfortably ahead of the 3.5% rate of inflation but will be welcomed by the Bank of England as its rate-setters continue to fret that strong wage growth represents an inflation risk ahead.
