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MarketScreener Homepage  >  Equities  >  Xetra  >  Wirecard AG    WDI   DE0007472060

WIRECARD AG

(WDI)
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Half-Year Financial Report 2019 - Wirecard AG: continued strong growth

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08/07/2019 | 08:24am EDT

Wirecard AG remains on its strong growth path following the end of the first half of 2019.

In the first half of 2019*, consolidated revenues increased by 36.7 percent to EUR 1,209.8 million (H1/2018: EUR 885.2 million). In the second quarter, consolidated revenues increased in comparison to the previous year by 37.4 percent to EUR 643.0 million (Q2/2018: EUR 467.9 million).

The transaction volume processed via the Wirecard platform grew by 37.5 percent to EUR 77.3 billion (H1/2018: EUR 56.2 billion) in the first half of 2019.

Operating earnings before interest, tax, depreciation and amortisation (EBITDA) grew by 35.8 percent to EUR 342.1 million (H1/2018: EUR 252.0 million) in the first half of 2019 and by 35.6 percent to EUR 184.1 million in the second quarter of 2019. Earnings after tax increased by 50.7 percent to EUR 237.5 million (H1/2018: EUR 157.6 million) in the first half of the year. This corresponds to earnings per share of EUR 1.92 (H1/2018: EUR 1.27).

The cash flow from operating activities (adjusted) amounted to EUR 284.0 million (H1/2018: EUR 196.2 million). The free cash flow increased to EUR 239.6 million (H1/2018: EUR 161.4 million).

Dr. Markus Braun, CEO, Wirecard AG, said, 'In the first half year our growth accelerated, hence we are looking extremely optimistically towards the second half of 2019. Accordingly we have increased our EBITDA forecast for 2019 as well as our Vision 2020.'

The Management Board of Wirecard AG raised its forecast for the fiscal year 2019 to an EBITDA of between EUR 765 million and EUR 815 million (before: EUR 760 million and EUR 810 million).

This forecast is based on, amongst other things, the continued dynamic growth of the global e-commerce market, the trend towards digitalization in the bricks and mortar trade, the acquisition of new customers, cross-selling effects with existing customers and the continuous expansion of the value chain to include valuable additional services such as data analytics, loyalty programs and financial services including loans.

Additionally the vision 2020 has been raised. A transaction volume higher than EUR 230 billion is expected. On consolidated revenue level more than EUR 3.2 billion are expected with an unchanged corridor of the EBITDA margin and an unchanged FCF conversion.

The six-monthly financial report as of 30 June 2019 is available on the company's website at: ir.wirecard.com/financialreports

Some of the amounts disclosed for 2018 differ from the figures in the Interim Report as of 30 June 2018 due to adjustments made in accordance with IAS 8.

(C) 2019 Electronic News Publishing, source ENP Newswire

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Financials (EUR)
Sales 2019 2 677 M
EBIT 2019 655 M
Net income 2019 528 M
Finance 2019 1 150 M
Yield 2019 0,17%
P/E ratio 2019 35,0x
P/E ratio 2020 26,0x
EV / Sales2019 6,40x
EV / Sales2020 4,85x
Capitalization 18 282 M
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Mean consensus OUTPERFORM
Number of Analysts 25
Average target price 195,33  €
Last Close Price 148,65  €
Spread / Highest target 61,5%
Spread / Average Target 31,4%
Spread / Lowest Target -32,1%
EPS Revisions
Managers
NameTitle
Markus Braun Chief Executive & Technology Officer
Wulf Matthias Chairman-Supervisory Board
Jan Marsalek Chief Operating Officer
Alexander von Knoop Chief Financial Officer
Alfons W. Henseler Deputy Chairman-Supervisory Board
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