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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