Q3 2024 Nexi SpA Earnings Call Transcript
Key Points
- Nexi SpA (NEXXY) reported a 5.6% revenue growth for the first nine months of 2024, with merchant solutions revenues up by 6.9%.
- EBITDA increased by 7.3% year-to-date, with an 82 basis point expansion in EBITDA margin, and further margin expansion is expected in Q4.
- The company has successfully reimbursed EUR700 million of debt maturities using existing cash and plans to pay down 2024 and 2025 maturities with current cash reserves.
- Nexi SpA (NEXXY) completed its EUR1 billion share buyback program ahead of schedule, canceling 83 million treasury shares.
- The company confirmed its 2024 guidance for revenue growth and EBITDA margin expansion despite a softer macroeconomic environment.
- The macroeconomic environment remains challenging, with a softer-than-expected performance in international tourism impacting growth.
- There is a noted slowdown in volume growth compared to the record year of 2023, particularly in key geographies.
- The company faces competitive pricing dynamics, which could pressure growth in a growing market.
- Nexi SpA (NEXXY) anticipates potential impacts from extraordinary events, such as bank M&A, which could affect growth rates.
- The company is experiencing a shift from domestic to international schemes, which impacts total volumes despite being profitable.
Good morning. This is the chorus call conference operator. Welcome and thank you for joining the Nexi nine- months, 2024 financial results presentation. (Operator Instructions)
At this time, I would like to turn the conference over to Mr Paolo Bertoluzzo, Chief Executive Officer of Nexi. Please go ahead sir.
Thank you and good morning to everyone. Welcome to the Nexi third quarter results call.
As usual, I'm here with Bernardo Mingrone, our deputy GM; Stefania Mantegazza, who lead investor relations and a few other members of our team that may help. In case you have a very specific questions.
Usually we start giving you a little bit of summary of the quarter. Then we will have a deep dive as we've done over the last couple of calls. This time, we are choosing the topic of merchant services, growth drivers and I will tell you later why after that, I will hand over to Bernardo that will cover the results of the quarter. More in detail, I
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