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Nexi cuts growth estimates: «Complex macroeconomic scenario»

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Nexi cuts growth estimates: «Complex macroeconomic scenario»

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

Growth around 5%

For 2024, «in light of a persistent complex macroeconomic scenario», Nexi estimates annual growth in “mid-single digit” revenues, i.e. around 5%, and an increase in “mid-to-high single digit” ebitda (between 5% and 9%) with an improvement in margins of over 100 basis points (52% in 2023). Excess cash generation is estimated to exceed 700 million and financial leverage is estimated to fall below 2.9 times (ratio between net financial position and ebitda) including the announced M&A operations and the effects of the share buyback program . Leverage on an organic basis would fall to 2.6x.

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