Nexi S.p.A. (NEXPF) Q1 2025 Earnings Call Transcript

2025-05-11 06:37:56 ET

Nexi S.p.A. (NEXPF)

Q1 2025 Earnings Conference Call

May 8, 2025 2:00 AM ET

Company Participants

Paolo Bertoluzzo – Chief Executive Officer

Bernardo Mingrone – Deputy GM and Chief Financial Officer

Conference Call Participants

Mohammed Moawalla – Goldman Sachs

Justin Forsythe – UBS

Hannes Leitner – Jefferies

Sébastien Sztabowicz – Kepler Cheuvreux

Gabriele Venturi – Banca Akros

Antonella Frongillo – Intesa Sanpaolo

Aditya Buddhavarapu – Bank of America

Craig McDowell – JPMorgan

Presentation

Operator

Good morning. This is the conference operator. Welcome, and thank you for joining the Nexi First Quarter 2025 Results Presentation. As a reminder, all participants are in a listen-only mode. After the presentation, there will be an opportunity to ask questions. [Operator Instructions]

At this time, I would like to turn the conference over to Paolo Bertoluzzo, CEO of Nexi. Please go ahead.

Paolo Bertoluzzo

Thank you, and good morning to everyone. Welcome to our call for the first quarter of 2025 results. As usual, I’m here with Bernardo Mingrone, our Deputy GM and CFO; and Stefania Mantegazza, who leads our Investor Relations operations and a number of other colleagues in case we need their support to answer to your questions.

Today, as usual, we start with an overview of the key messages, and then I will hand over to Bernardo who will cover results for the quarter, but we’ll also deep dive on the topic that we have chosen for today, which is actually our progress on debt and more in general capital structure management. And then we come back for conclusions and most importantly, together with Bernardo for answering to your questions.

Now let me start with the summary of the key messages of the day, Page 3 of the document. First of all, point number one, continued delivery of profitable growth in the quarter. Revenue went up 3.7% in the quarter with Merchant Solutions up 4.5% versus the first quarter of last year, and this is despite some effect from the leap year and the different Easter phasing that is a disadvantage in 2025 versus 2024 for the first quarter.

In this quarter, we also continue to show strong cost efficiency control, cost did grow only 0.8% in the quarter, thanks to continued cost control and operating leverage. As a result of revenue growth and strong cost control, EBITDA went up in the quarter by 7.1% with an EBITDA margin expansion of almost 150 basis points....

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