Milan: Nexi (BIT:NEXII), Europe’s largest payments group by volume, said on Tuesday that it expects to have around 2.7 billion euros ($2.8 billion) in cash left over between 2023 and 2025. It can use this money for mergers and acquisitions or to return capital to shareholders.
Nexi, which is based in Milan, has made a new strategic plan that says between 2021 and 2025, its average annual revenue will grow by 9%, to about 4.2 billion euros, and its core profit will grow by 14% each year over the same time period.
Related: Sources: Sabadell is in negotiations for a payment agreement with Worldline, Nexi, and Fiserv.
Nexi is now a top European payments group that competes with France’s Worldline. This is because it bought two similar companies, SIA in its home country and Nets in Denmark.
CEO Paolo Bertoluzzo said, “The European payments market is complicated and split up, and we love it.”
($1 = 1.0378 euros)
