Tourism rebound boosts Italian Nexi’s revenue and profits – Metro US

FILE PHOTO: The logo of Italian payments group Nexi is pictured inside its headquarters in Milan

MILAN (Reuters) – Italian payments group Nexi on Thursday remained on its outlook for 2022 after reporting a 7.1% rise in first-quarter revenue as the resumption of tourist flows led to “higher impact” transactions. » such as hotel bills.

Nexi, which is one of Europe’s largest payments companies along with France’s Worldline, said its merchant transaction volumes rose 38% in April, with a 162% increase in mostly related large bills to travel.

The travel component of Nexi’s merchant acquiring business rebounded in the first quarter to represent three-quarters of the group’s pre-pandemic volume levels.

First-quarter revenue totaled 712.6 million euros despite Italy easing COVID-19 restrictions later than other countries.

Earnings before interest, taxes, depreciation and amortization increased 17.4% year-on-year to 307.5 million euros. The EBITDA margin improved by 4 percentage points compared to a year ago to reach 43%.

Nexi said that, barring a worsening of the Ukraine crisis and assuming a pandemic exit in the second quarter of 2022, it confirmed a full-year revenue growth ambition of between 7% and 9% with higher core profit. between 13% and 16%.

Nexi, which has grown rapidly through acquisitions and last year completed a merger with domestic rival SIA and Nordic counterpart Nets, said earlier on Thursday it had acquired 100% of Orderbird, a company company which provides cloud-based software services to companies in the hospitality sector to manage, for example, reservations.

The overall investment is 100 million euros taking into account the stakes that Nexi had previously acquired.

(Reporting by Valentina Za; Editing by Keith Weir)

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