By Mauro Orru
Wirecard AG said Friday that its revenue and adjusted earnings before interest, tax, depreciation and amortization rose in the fourth quarter of 2019.
The German payments company reported revenue for the fourth quarter of 835 million euros ($906.8 million), up from EUR571 million for the same quarter the previous year.
Analysts were expecting quarterly revenue of roughly EUR776 million, according to FactSet.
Revenue for the full year rose to EUR2.8 billion from EUR2 billion the previous year.
Wirecard said adjusted Ebitda for the fourth quarter rose 42% to EUR794 million, while Ebitda for the full year increased to EUR785 million from EUR561 million the previous year.
The company said it continues to expect Ebitda of between EUR1 billion and EUR1.12 billion for 2020.
"Targeted investments with a constant focus on active cost management have again resulted in outstanding EBITDA in 2019. In addition, we expect a strong cash flow," said Chief Financial Officer Alexander von Knoop.
The company will publish its full 2019 results on April 8.
Write to Mauro Orru at email@example.com; @MauroOrru94