Posted on 08/17/2016 at 16:51
Wirecard AG: strong growth in first half of 2016
Following the successful conclusion to the second quarter of 2016, Wirecard AG was able to record a positive result.
Consolidated revenues for the Group increased in the first half of 2016 by 32.8 percent to EUR 451.8 million (H1/2015: EUR 340.1 million). In the second quarter of 2016, consolidated revenues for the Group increased by 33.6 percent to EUR 241.3 million (Q2/2015: EUR 180.7 million).
Operating earnings before interest, tax, depreciation and amortisation (EBITDA) grew in the first half of 2016 by 34.6 percent to EUR 132.4 million (H1/2015: EUR 98.3 million). In the second quarter, EBITDA increased by 34.6 percent to EUR 70.4 million (Q2/2015: EUR 52.3 million). The EBITDA margin amounted to 29.3 percent in the first half of 2016.
In the first half of 2016, earnings after tax increased by 173.7 percent to EUR 166.8 million. Adjusted for the income from the sale of shares in Visa Europe of EUR 89.8 million, earnings after tax stood at EUR 77.0 million. Accordingly, earnings per share increased in the first half of 2016 by 175.5 percent from EUR 0.49 to EUR 1.35. Adjusted for the specific effect from the sale of Visa Europe, earnings per share stood at EUR 0.62.
The cash flow from operating activities (adjusted) amounted to EUR 113.4 million.
Transaction volumes processed through the Wirecard platform grew in the first six months by 35.3 percent from EUR 20.2 billion in the previous year to EUR 27.4 billion. The proportion of the overall transaction volume generated outside Europe was 30.3 percent at EUR 8.3 billion (H1/2015: EUR 4.9 billion).
Wirecard benefits from the strong growth being experienced by its core business of payment processing and credit card acceptance, as well as from the successful development of the areas of issuing, mobile payment and mobile point of sale (mPOS). The acquisition of numerous new customers and the expansion of existing customer relationships demonstrate Wirecard's business success in all sales channels.
Wirecard CEO Markus Braun commented: “Alongside the constant shift from bricks and mortar transactions to online transactions and from cash payments to electronic transactions, Internet technologies are driving the convergence of all sales channels.”
In the second half of the year, the Management Board continues to expect an exceptionally good business performance and reaffirms its forecast of operating earnings before interest, tax, depreciation and amortisation (EBITDA) of between EUR 290 million and EUR 310 million for the 2016 fiscal year.
The Q2/Six-Monthly Report 2016 is available for download on our website with immediate effect. ir.wirecard.com/financialreports
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