08-05-2025
Nexi posts Q1 core profit above company-provided consensus
May 8(Reuters) - Italian payments group Nexi ( 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.
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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 ( 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)
