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Investing.com -- Nexi (BIT:NEXII) on Thursday reported second-quarter revenue growth of 3% to €905 million, in line with company-compiled consensus of €903 million, as the payment processor confirmed its full-year guidance.
The growth was driven by Merchant Solutions, which increased 3.4% to €522 million, while Issuing Solutions rose 2.6% to €289 million and Digital Banking Solutions grew 2.5%.
EBITDA grew 4% quarter-over-quarter to €482 million, representing a margin of 53.3%, in line with consensus expectations of €480 million.
This performance helped expand the EBITDA margin by 90 basis points to 50.7% for the first half of the year, trending ahead of the company’s "+50bp" guidance.
By region, DACH (Germany, Austria, and Switzerland) led growth at 5%, followed by Italy at 3%, which accounts for 59% of total revenues. The Nordics grew 4%, while Central and Southeastern Europe increased 1%. Overall, non-Italian markets grew 3%.
First-half free cash flow reached €407 million, representing a 47% conversion rate and a 6% year-over-year increase. Net debt stood at €5.1 billion at the end of June, or 2.7 times EBITDA, which includes €184 million of the company’s €300 million buyback program and its first-ever dividend payment of €307 million in May.
Capital expenditure decreased by 9% year-over-year to €179 million, representing 10% of revenue compared to 12% in the first half of 2024.
Nexi confirmed its 2025 guidance, expecting "low-to-mid-single digit" organic revenue growth to between €3.55 billion and €3.73 billion, with EBITDA margin expansion of at least 50 basis points to 53.5%.
The company also expects free cash flow to exceed €800 million for the full year.
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