Nexi Confirms Full-Year Guidance Amid Europe Fintech Turmoil
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Italian payments specialist Nexi SpA confirmed its full-year guidance and reported higher revenue in the third quarter, as Europe’s fintech industry comes under pressure after a boom during the pandemic years.
Milan-based Nexi reiterated its outlook of revenue increasing by more than 7% this year, saying it expects to generate at least €600 million ($643 million) in excess cash. Third-quarter revenue increased 5% from a year earlier, in line with analyst expectations. Net financial debt, 76% of which is at a fixed rate, fell to €5.35 billion from €5.42 billion in June.