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    NEXI   IT0005366767

NEXI S.P.A

(NEXI)
  Report
Delayed Borsa Italiana  -  11:39:26 2023-02-03 am EST
8.460 EUR   -2.78%
02/04Banco BPM wants to squeeze more long-term value from retailers' payment business
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02/03Mib down; Pirelli ends bullish
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01/26Nexi, Stefan Goetz leaves board position, Johannes Korp appointed
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Italy's Nexi beats forecasts in Q3, shares rally

11/10/2022 | 10:39am EST
FILE PHOTO: The logo of Italian payments group Nexi is pictured inside their headquarters in Milan

MILAN (Reuters) - Italy's Nexi, one of Europe's biggest payments groups, reported on Thursday higher than expected third-quarter core earnings as it confirmed guidance for the full year.

Shares extended gains after the results and were up 8% by 1521 GMT against a 2.6% rise in Italy's blue-chip index.

Asked about the weakening economic backdrop during a call with analysts, CEO Paolo Bertoluzzo said "the jury is out" on whether there would be a slowdown in the remainder of the year.

While numbers for October are "a bit lighter" than for the preceding months, there is also a seasonal element to that. Black Friday sales in November as well as the Christmas shopping season will be key, Bertoluzzo said.

Nexi said earnings before interest, tax, depreciation and amortisation (EBITDA) totalled 463.1 million euros in the third quarter, up 12% from a year earlier and above an analyst consensus of 453 million euros gathered by the company.

Revenues were 859 million euros, up 7.1% annually and above an analyst consensus of 851 million euros.

In the third quarter, revenues at Nexi's retailers' payment business posted double-digit increases in all of its markets, with Italy boosted in particular by tourist flows over the summer months, it added.

Bertoluzzo said retailers' payments, known in the industry as merchant acquiring businesses, remained the focus of Nexi's acquisition strategy, both in Italy and other European markets.

Nexi is vying with rival Worldline in a race for the merchant acquiring unit of Banco Sabadell, and two sources close to the matter said binding offers are due by the end of the year.

Asked about the planned disposal of German consumer finance business Ratepay, Chief Financial Officer Bernardo Mingrone said Nexi had received inquiries after putting the asset on the block but it was not the best moment to sell and the process would proceed without any rush.

(Reporting by Valentina Za; Editing by Keith Weir)


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
BANCO DE SABADELL, S.A. -2.53% 1.1365 Delayed Quote.29.03%
NEXI S.P.A -2.78% 8.46 Delayed Quote.14.85%
WORLDLINE -0.95% 44.02 Real-time Quote.20.50%
All news about NEXI S.P.A
02/04Banco BPM wants to squeeze more long-term value from retailers' payment business
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02/03Mib down; Pirelli ends bullish
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01/26Nexi, Stefan Goetz leaves board position, Johannes Korp appointed
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01/10Milan lines up declines; Erg stays afloat
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01/10First hearing of class action lawsuit against Nexi in February
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Analyst Recommendations on NEXI S.P.A
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Financials
Sales 2022 3 279 M 3 558 M 3 558 M
Net income 2022 272 M 295 M 295 M
Net Debt 2022 5 374 M 5 831 M 5 831 M
P/E ratio 2022 35,0x
Yield 2022 0,19%
Capitalization 11 094 M 12 039 M 12 039 M
EV / Sales 2022 5,02x
EV / Sales 2023 4,51x
Nbr of Employees 10 197
Free-Float 63,3%
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Technical analysis trends NEXI S.P.A
Short TermMid-TermLong Term
TrendsBullishNeutralBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 20
Last Close Price 8,46 €
Average target price 11,62 €
Spread / Average Target 37,4%
EPS Revisions
Managers and Directors
Paolo Bertoluzzo Chief Executive Officer
Bernardo Mingrone Chief Financial Officer
Michaela Castelli Non-Executive Director
Giuseppe Dallona Chief Information Officer
Federico Ferlenghi Head-Operations & Help Line
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