By Mauro Orru 

Nexi SpA said Thursday that earnings and revenue rose in the fourth quarter amid continued volume growth despite the Omicron variant, and set out its targets for the new year.

The Italian payments company said earnings before interest, taxes, depreciation and amortization climbed to 319.7 million euros ($365.3 million) from EUR286.5 million in the fourth quarter of 2020.

Revenue increased to EUR618.1 million from EUR556.4 million. Nexi's merchant services and solutions business reported a 13.3% revenue boost to EUR383.4 million.

Total costs rose to EUR298.4 million from EUR269.9 million.

Nexi witnessed sustained volume growth in the quarter despite the Omicron variant, with acquiring volumes in Italy growing double‐digit compared to pre‐Covid levels.

"The continued volume acceleration, in sectors less impacted by the pandemic, confirmed the current shift from cash to digital payments," Nexi Chief Executive Paolo Bertoluzzo said.

For 2022, Nexi targets 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.

Nexi's outlook is based on the assumption that there will be an exit from the pandemic starting in the beginning of the second quarter.

At 1225 GMT, Nexi shares traded 3.3% lower at EUR13.07.


Write to Mauro Orru at; @MauroOrru94


(END) Dow Jones Newswires

February 10, 2022 07:45 ET (12:45 GMT)

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