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Wirecard AG : Q2 2018 results in line, 2018 guidance upgraded as expected (but midpoint below consensus) – We remain Neutral on valuation grounds
>Solid, but unsurprising H1 2018 numbers - This morning, Wirecard released its full Q2 2018 earnings. As a reminder, preliminary Q2 2018 results were published on 26 July.Key new items are: 1/ H1 2018 EPS rose by 45.8% to € 1.24 (vs € 0.85 last year), i.e. € 0. 67 for Q2 2018 vs a consensus of € 0.66, 2/ adjusted cash flow from operating activities totalled € 196.2m, up 31%, 3/ transaction volumes grew 48.5% overall to € 56.2m. Also, the FCF conversion rate was 1...
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Wirecard AG
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Oddo BHF
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
Stephane Houri
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