Sweden's Westpay Q2 net sales rises, profitability improves on strong ARR growth, cost cuts
Sweden's Westpay Q2 net sales rises, profitability improves on strong ARR growth, cost cuts
Overview
Sweden payment solutions provider's Q2 net sales rose 11% yr/yr, profitability improved sharply
Recurring revenues made up 69% of net sales, with ARR up 10% yr/yr
Company announced strategic partnerships with Worldline and Sveriges bagare & konditorer
Outlook
Company did not provide specific guidance for future quarters or the full year in press release
Result Drivers
RECURRING REVENUES - Co said growth in recurring revenues and ARR contributed to more predictable and resilient results
COST CONTROL - Co attributed stronger profitability to disciplined cost control and improved operating leverage
STRATEGIC PARTNERSHIPS - Co said new partnerships with Worldline and SBK are expected to expand merchant reach and payment capabilities
Company press release: ID:nMFN813GdR
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Sales |
| SEK 19.80 mln |
|
Q2 EPS |
| SEK 0.01 |
|
Q2 Net Income |
| SEK 800,000 |
|
Q2 EBIT |
| SEK 1.50 mln |
|
Q2 EBITDA |
| SEK 3.80 mln |
|
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)
Recent news on Westpay AB
See all newsSweden's Westpay Q2 net sales rises, profitability improves on strong ARR growth, cost cuts
Brief: Westpay Q2 EBIT SEK 1.5 Million
Brief: Westpay Partners With Sveriges Bagare & Konditorer
Brief: Westpay Enters Into Strategic Partnership With Worldline
Sweden's Westpay Q1 net sales rise 5%, profit hit by currency