Nexi cuts growth estimates: 'Complex macroeconomic scenario'

After the French case of Worldline, new signs of a slowdown in the payments sector. Nexi revises guidance on growth prospects compared to the plan presented in September 2022. The group announces accounts in the red after write-downs and a buyback plan.

 For 2024, "in the light of a persistently complex macroeconomic scenario", Nexi estimates "mid-single digit" annual revenue growth, i.e. around 5%, and "mid-to-high single digit" ebitda growth (between 5% and 9%) with an improvement in margins of more than 100 basis points (52% in 2023). Excess cash generation is estimated to exceed 700 million and leverage to fall below 2.9 times (ratio of net financial position to ebitda) including the announced M&A transactions and the effects of the share buy-back programme. Leverage on an organic basis would fall to 2.6 times.