Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Xetra  >  Wirecard AG    WDI   DE0007472060

WIRECARD AG

(WDI)
  Report
SummaryQuotesChartsNewsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsPress ReleasesOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

Wirecard administrator sees strong interest from potential buyers

share with twitter share with LinkedIn share with facebook
07/07/2020 | 01:08pm EDT
FILE PHOTO: The logo of Wirecard AG is pictured at its headquarters in Aschheim

By Tom Sims and Hans Seidenstuecker

Wirecard's administrator said on Tuesday that more than 100 investors have expressed interest in buying the collapsed German payments firm's core business and holdings.

The firm filed for insolvency last month owing creditors 4 billion euros (3.5 billion pounds) after disclosing a 1.9 billion euro hole in its accounts that its auditor EY said was the result of a sophisticated global fraud.

"The aim is to find timely investor solutions in the interest of creditors, employees and customers," administrator Michael Jaffe said in a statement after a creditors meeting.

The potential sale of Wirecard North America's assets was most advanced, Jaffe added, with investment bank Moelis & Company already mandated to conduct a sale.

Sale processes are also being initiated for other international holdings as well as Wirecard's core business, he said, adding that most of its customers were being constructive and showing an interest in a speedy sale process.

Jaffe said potential investors would soon be able to start due diligence procedures in virtual data rooms.

Reuters reported on Monday that Jaffe was likely to raise only about 400-500 million euros for Wirecard's assets, citing one person close to the matter. This would be about 10% of the total creditors are owed.

Deutsche Bank's chief executive said on Tuesday it was too early to say how it might help Wirecard Bank, adding that its own exposure to the Wirecard fraud was very limited.

Germany's largest bank said last week that it was working with financial watchdog BaFin and Wirecard's administrator on possible support for Wirecard Bank.

While it was "too early to judge" how Deutsche Bank may be involved, CEO Christian Sewing said it was "almost an obligation" to look at Wirecard Bank for opportunities or to stabilise it given his company's focus on transaction banking.

"We all now need transparency and that's the first task," Sewing told a webcast event organised by Bloomberg News.

Deutsche Bank said last week that it was ready in principle to support Wirecard Bank "in the context of a continuation of business operations" if assistance became necessary.

Separately, European Union finance ministers are due to discuss stronger regulation of payment providers at a meeting this week, a German government official said.

"Europe-wide rules are urgently required," the official added. Germany's regulation of Wirecard has come under intense scrutiny since the rapid demise of the former fintech star.

($1 = 0.8868 euros)

(Reporting by Tom Sims and Hans Seidenstuecker; Additional reporting by Christian Kraemer and Emma Thomasson in Berlin; Editing by Maria Sheahan, Michelle Martin and Alexander Smith)

Stocks mentioned in the article
ChangeLast1st jan.
DEUTSCHE BANK AG 2.01% 7.99 Delayed Quote.13.04%
MOELIS & COMPANY -1.02% 30.14 Delayed Quote.-5.58%
WIRECARD AG 0.26% 1.93 Delayed Quote.-98.21%
share with twitter share with LinkedIn share with facebook
Latest news on WIRECARD AG
05:59aCOMMERZBANK : expects net loss for 2020 after second quarter profit decline
RE
08/04WIRECARD : Germany's BaFin audits Wirecard accounts from 2017 to 2019
RE
08/04WIRECARD : REFILE-Germany's BaFin audits Wirecard accounts from 2017 to 2019
RE
08/03WIRECARD : German regulator examines auditor EY over Wirecard accounts
RE
08/03WIRECARD : German regulator examines auditor EY over Wirecard accounts
RE
07/30NEWS HIGHLIGHTS : Top Financial Services News of the Day
DJ
07/30NEWS HIGHLIGHTS : Top Financial Services News of the Day
DJ
07/30MARKUS BRAUN : The rise and fall of Wirecard
RE
07/30SoftBank's Stamp Elevated Wirecard -- WSJ
DJ
07/30NEWS HIGHLIGHTS : Top Company News of the Day
DJ
More news
Financials
Sales 2019 2 769 M 3 270 M 3 270 M
Net income 2019 524 M 618 M 618 M
Net cash 2019 1 135 M 1 341 M 1 341 M
P/E ratio 2019 0,46x
Yield 2019 12,8%
Capitalization 235 M 277 M 278 M
EV / Sales 2019 -0,33x
EV / Sales 2020 -0,57x
Nbr of Employees 5 685
Free-Float 97,4%
Chart WIRECARD AG
Duration : Period :
Wirecard AG Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends WIRECARD AG
Short TermMid-TermLong Term
TrendsNeutralBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus SELL
Number of Analysts 7
Average target price 0,81 €
Last Close Price 1,93 €
Spread / Highest target -48,1%
Spread / Average Target -57,9%
Spread / Lowest Target -67,7%
EPS Revisions
Managers
NameTitle
James H. Freis Chief Executive Officer & Director
Thomas Eichelmann Chairman-Supervisory Board
Alexander von Knoop Chief Financial Officer
Wulf Matthias Member-Supervisory Board
Stefan Klestil Member-Supervisory Board
Sector and Competitors
1st jan.Capitalization (M$)
WIRECARD AG-98.21%277
FISERV, INC.-13.82%66 808
GLOBAL PAYMENTS INC.-4.56%53 552
FLEETCOR TECHNOLOGIES, INC.-10.14%22 058
AFTERPAY LIMITED141.80%13 136
PAGSEGURO DIGITAL LTD.14.17%12 689