REG - Eurowag - Trading Update

WAG Payment SolutionsAnnouncement

05/05/2022 07:00

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RNS Number : 3718K  Eurowag  05 May 2022

5 May 2022

 

EUROWAG

Trading Update

DELIVERING RESILIENT GROWTH

W.A.G payment solutions plc ("Eurowag", or the "Group") a leading pan-European
integrated payments & mobility platform focused on the Commercial Road
Transportation industry ("CRT"), is pleased to provide a trading update for
the three-month period ending 31 March 2022.

 

Business delivers robust growth despite the uncertain macroeconomic
environment

Net energy and services sales ("net revenue") in the first quarter of 2022
were €39.9 million, in line with management expectations. The growth rate
of 14.8% YoY was impacted by changing seasonality, which resulted in a very
strong comparator. We expect our growth rate to accelerate in H2 2022 as
comparators soften.

Revenue growth continues to be supported by strong non-financial KPI
performance:

·      The average number of payment solutions active customers rose
from 14,244 in Q1 2021 to 16,221 in Q1 2022, representing 13.9% YoY growth

·      The average number of payment solutions active trucks rose from
79,965 in Q1 2021 to 87,085 in Q1 2022, representing 8.9% YoY growth

Net revenue for the last twelve months reached €158.3 million, representing
20.2% growth against the comparable period in the previous year. On the same
basis, net revenue in the Payment solutions segment was €116.6 million (up
20.4% YoY), and €41.7 million (up 19.6% YoY) in the Mobility solutions
segment.

Based on current trading, and assuming no worsening of the current
environment, particularly noting the uncertainty around potential impacts of
the import ban on Russian oil proposed by the European Commission yesterday,
our expectations for 2022 are unchanged and we anticipate delivering results
in line with our mid-term financial guidance.

 

Martin Vohánka, CEO and Founder said:

"Eurowag has delivered robust double-digit growth and maintained net revenue
and Adjusted EBITDA expectations for the year against a volatile market
backdrop. These results reflect our focus on the operational delivery that is
within our control, and demonstrate the resilience of our business despite the
volatility caused by the war in Ukraine and supply chain disruptions. I am
thankful for the hard work of our team, which has allowed us to maintain the
exceptional service we provide to our customers.

The adaptability and resilience we have shown allow us to continue to drive
growth and support the productivity of Commercial Road Transportation in
Europe. As a strategic enabler for our customers, we continue to drive
efficiency and navigate uncertainty as we build the platform for the digital
transformation of the industry."

 

 

ENQUIRIES

Eurowag

Tomáš Novotný (Head of Investor Relations)

investors@eurowag.com (mailto:investors@eurowag.com)

 

Michal Malysa (Head of Group Communications)

michal.malysa@eurowag.com (mailto:michal.malysa@eurowag.com)

+420 775 70 80 86

 

About Eurowag

Eurowag was founded in 1995 and is a leading pan-European integrated payments
& mobility platform focused on the commercial road transportation
industry. Eurowag's innovative solutions makes life simpler for small and
medium businesses in the Commercial Road Transportation industry across Europe
through its unique combination of payments solutions, seamless technology, a
data-driven digital eco-system and high-quality customer
service. www.eurowag.com (http://www.eurowag.com/)

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