Day in the spotlight at Piazza Affari for nexi. Just over an hour after the closing, the share of the digital payment company dropped 4,4% (after touching -7%) to 8,884 euros. The sell-off comes after the announcement of an acquisition in Germany and the publication of first-quarter numbers, which were still in line with expectations.
Nexi: accounts in progress in the first quarter
In detail, Nexi archives the January-March period with ebitda accelerating to 307,5 million (+17,4% on year), ebitda margin growing to 43% e revenues equal to 712,6 million, an increase of 7,1%. As of March 31, 2022 the net financial position management is equal to 5,068 billion and the net financial position/ebitda ratio is equal to 3,5 times.
The company then recorded an acceleration in financial performance and volumes. In particular, in Italy the volumes of transactions acquiring markets recorded double-digit growth compared to last year, reaching +38% annually in April, driven by a rapid recovery in high-impact consumption (+162%).
Also confirmed budget targets for 2022, which expect revenue growth between 7 and 9% and ebitda between 13 and 16%. The guidance is based on the hypothesis of exit from Covid-19 by the beginning of the second quarter and no further escalation of the crisis in Ukraine.
Acquisition of the German Orderbird
Nexi, via Nets, it also has acquired the German Orderbird, a company that provides integrated software solutions for the hospitality sector. Nets had increased its strategic investment in Orderbird in late 2021 and has now acquired the remaining stake to strengthen the commercial services proposition in the hospitality industry. In this way, Nexi comes to own 100% of Orderbird through Nets, with an overall cash out of about 100 million euro, including previous share purchases.
Orderbird works with independent restaurateurs and SMEs in Germany, Austria, Switzerland and France. In a single cloud structure, the company provides integrated payment solutions and offers services to optimize in-person and mobile ordering processes, manage reservations and menus and perform data analysis.
“The integration process for the creation of the leading PayTech in Europe continues according to plan”, Nexi writes in the quarterly.
Lastly, the group sold the non-Sepa clearing business in Italy, in line with the remedies established by the Competition and Market Authority in the authorization of the merger with Is.
