Payments firm Nexi confirms 2026 outlook after 2% core profit drop (updated)
UPDATE 1-Payments firm Nexi confirms 2026 outlook after 2% core profit drop Adds share reaction and analyst comments in paragraphs 2-4
July 29 (Reuters) - Italy's Nexi NEXII.MI, Europe's biggest payments group by transactions, confirmed its 2026 guidance after second-quarter core earnings fell 1.9%, as its traditional business of partnering with banks to serve shop owners continued to contract.
Shares in Nexi fell 2% to €4 apiece by 0706 GMT. Nexi, which was listed in 2019 at €9 a share, has been battling with a depressed share price as innovation disrupts the payments sector in a challenge to the business model of incumbents.
"To reach its guidance, Nexi will need to grow revenue (in the second half) by more than 3% to €1.92 billion (consensus: €1.91 billion/+2.4%) versus a 1% increase in the first half," Jefferies analysts said in a note.
They added that Nexi's earnings before interest, taxes, depreciation and amortisation would need to stay flat in the latter half of the year.
Nexi's EBITDA fell to €473 million ($539 million) in the second quarter, against a company-provided consensus of €471 million.
($1 = 0.8772 euros)
(Reporting by Anna Uras and Valentina Za, editing by Milla Nissi-Prussak)