Posted on 05/18/2017 at 07:35
Wirecard AG: Strong growth on the back of accelerated digitalisation
Interim Report for the First Quarter 2017
- Transaction volume in Q1/17 increased by 34.4%
- Group sales in Q1/17 increased by 31.0%
- EBITDA increased by 31.1%
- Net result increased by 32.5%
- EBITDA 2017 guidance confirmed
In the first quarter of 2017, the Wirecard Group continued to push its growth forward.
Transaction volumes processed through the Wirecard platform grew in the first quarter of 2017 by 34.4 percent to EUR 17.2 billion (Q1/2016: EUR 12.8 billion).
In the first quarter of 2017, consolidated revenues for the Group increased by 31.0 percent to EUR 274.9 million (Q1/2016: EUR 210.5 million). Earnings before interest, tax, depreciation and amortisation (EBITDA) increased by 31.1 percent to EUR 81.3 million (Q1/2016: EUR 62.0 million).
In the reporting period, earnings after tax increased by 32.5 percent to EUR 48.5 million (Q1/2016: EUR 36.6 million). The cash flow from operating activities (adjusted) amounted to EUR 64.8 million. Free cash flow increased to EUR 49.7 million (Q1/2016: EUR 37.5 million).
In the first three months of the fiscal year, Wirecard reported strong organic growth.
Wirecard CEO Markus Braun commented: “As a leader for innovation in the digitalisation of payment processes, Wirecard AG has taken up an ideal position to benefit from the global digitalisation trend.”
In the reporting period, Wirecard pushed forward its globalisation, on the one hand, with the US market entry and, on the other hand, with the announced acquisition Citigroup’s acquiring customer portfolio in 11 countries in the Asian-Pacific (APAC) region.
The Management Board of Wirecard AG expects a successful performance in the 2017 fiscal year and confirms its forecast for earnings before interest, tax, depreciation and amortisation (EBITDA) of between EUR 382 million and EUR 400 million.
The quarterly statement as at 31 March 2017 is available on the company's website at: ir.wirecard.de/finanzberichteDownload Press Release