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TEHRAN, October 10 -Wirecard (WDIG.DE), the fintech company that last month joined Germany's DAX .GDAXI blue-chip index, said on Tuesday it expects core profits to grow sixfold by the middle of the next decade thanks to a boom in e-commerce and digital payments.
TEHRAN, Young Journalists Club (YJC) -Wirecard (WDIG.DE), the fintech company that last month joined Germany's DAX .GDAXI blue-chip index, said on Tuesday it expects core profits to grow sixfold by the middle of the next decade thanks to a boom in e-commerce and digital payments.
The company, founded in 1999, is the leading German player in a payments sector that is rapidly expanding as established banks struggle to shake off the legacy of the global financial crash a decade ago.
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Earnings before interest, taxation, depreciation and amortization (EBITDA) are forecast to exceed 3.3 billion euros ($3.79 billion), according to a Vision 2025 strategy due to be presented at an investor day in London.
That view is conservative, CEO Markus Braun told Reuters. “All the figures that we are giving represent the bottom end of the range - I want to stress that,” Braun said in an interview ahead of the event.
The long-term outlook compares with EBITDA guidance for this year of between 530 and 560 million euros, which Wirecard confirmed along with its existing forecasts for 2020.
Source: Reuters
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