NEXI (Neutral, TP: EUR10.5, +35%) Nexi Q1s - solid start to the year; Feedback following earnings call
Nexi reported solid Q1s this morning, with revenue 1% ahead and EBITDA in-line. Headline growth picked up to 9% y/y (from 4% y/y in Q4) which reflects 1 / the easing of tougher comps in Q4, notably the impact of BNPL provider Ratepay (now held for sale), as well as 2/ easier comps in Q1 (specifically January) relating to the pandemic/lockdowns.Nexi SpA. Nexi SpA is an Italy-based financial technology company. The Company is specialized in the payment technology field offering digital services and infrastructure to banks, businesses, institutions and the public administration.
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