HomeWorldItalian payments group Nexi reports rising transaction volumes

Italian payments group Nexi reports rising transaction volumes

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MILAN, March 7 (Reuters) – Italian payments group Nexi’s (NEXII.MI) transaction volumes accelerated in the first eight weeks of this year by 17% from the same period last year, it said as it posted annual earnings in line with expectations and confirmed guidance for 2023.

Europe’s biggest payments firm by volumes reported a 7% rise in revenue to 3.26 billion euros ($3.5 billion) last year and also hit its core profit goal with a 14% jump to 1.62 billion euros.

Nexi’s core profit margin, meanwhile, rose by more than three percentage points to 49%.

“We start 2023 determined to grow in all geographies, increasing margins and cash generation,” CEO Paolo Bertoluzzo said in a statement.

($1 = 0.9362 euros)

Reporting by Valentina Za
Editing by Alvise Armellini and David Goodman

Our Standards: The Thomson Reuters Trust Principles.

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