NEXI Nexi S.p.A.

By Mauro Orru

Nexi SpA on Friday backed its outlook for the year after posting higher earnings and revenue for the second quarter as travel volumes exceeded pre-pandemic levels.

The Italian payments company said earnings before interest, taxes, depreciation and amortization--a key profitability measure--climbed to 395 million euros ($402.8 million) from EUR327.9 million last year.

Revenue for the period increased to EUR808.2 million from EUR733.6 million. Nexi's merchant services and solutions business reported a 15.8% revenue jump to EUR430.6 million.

Total costs rose to EUR413.3 million from EUR405.8 million.

The company said acquiring volumes in Italy rose double-digit compared to last year. Acquiring volumes also grew in the Nordics as well as in Germany, Austria and Switzerland.

For 2022, Nexi continues to target net revenue growth between 7% and 9% year-on-year, with double‐digit growth in its merchant services and solutions business. It also expects Ebitda growth between 13% and 16% year-on-year.

Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94

(END) Dow Jones Newswires

July 29, 2022 06:41 ET (10:41 GMT)

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