Nexi SpA’s Board of Directors gave the green light on March 6 to the consolidated financial results for the group as of December 31, 2023.
“In 2023, we continued our growth journey across all geographies, further increasing our margins and significantly accelerating cash generation. Furthermore, we have made further progress in product innovation, the modernization of our technological platforms, the strengthening of our skills and the integration of our organization, which allows us to further accelerate efficiency and synergies,” said Paolo Bertoluzzo, CEO of Nexi Group. “Looking ahead, despite the still uncertain macroeconomic outlook, we plan to continue to expand our margins and significantly increase cash generation, returning to an acceleration in turnover in the medium term, also thanks to new growth vectors such as online commerce, Germany and Spain, which we recently acquired. Given this perspective, we are entering a new phase in terms of capital allocation: we have decided to initiate the process of redistributing capital to our shareholders, while continuing the continuous reduction of financial leverage and supporting investments in the organic development of the company. For this reason, we will propose at the general meeting of shareholders to start a major buyback program, convinced that this is the most effective way to create value for our shareholders during this phase. This progress is made possible by the continued trust of our customers, the support of our partners and the extraordinary contribution of Nexi employees.”
Key financial highlights for fiscal year 2023 include:
- Total revenue of €3,361.7 million, up 7.0% compared to the previous year.
- EBITDA of €1,751.8 million, a 10.0% increase year-on-year.
- EBITDA margin of 52%, up 146 basis points compared to the previous year.
- Q4 2023 revenue reached €912.9 million, up 6.8% compared to Q4 2022.
- Q4 2023 EBITDA amounted to €484.1 million, up 9.7% compared to Q4 2022.
- Nexi Group’s operational activities saw growth in various segments, including Merchant Solutions, Emission Solutions, and Digital Banking Solutions.
Nexi plans to begin redistributing capital to shareholders through an 18-month share buyback program of up to €500 million, equivalent to approximately 13% of the free float. The program will be proposed at the general meeting of shareholders on April 30, 2024.
Looking ahead to 2024, Nexi anticipates continued growth in net sales, EBITDA, and cash surpluses, despite complex macroeconomic prospects. The company also aims to maintain a strong focus on ESG initiatives and sustainability.
The financial results are currently being verified by PricewaterhouseCoopers.
For more information on Nexi and its operations, visit www.nexi.it/en and www.nexigroup.com.
