Nexi S.p.a. · MIL:NEXI
Nexi — 1H25 Earnings Presentation
25 slides from Nexi's earnings presentation, Jul 31, 2025
Slide 1: 1H25 Results Presentation
This content is classified as Internal 1H25 Results Presentation July 31st, 2025
Slide 2: Disclaimer
This content is classified as Internal Disclaimer ▪ This Presentation may contain written and oral “forward-looking statements”, which includes all statements that do not relate solely to historical or current facts and which are therefore inherently uncertain. All forward-looking statements rely on
Slide 3: Key messages
This content is classified as Internal Key messages Continued delivery of Shaping Nexi for Creating value for our Shareholders profitable growth future profitable growth ▪ Revenues growing at +3.4% vs 1H24, with ▪ Continued progress on partnership-based ▪ Returning 1.1 €B of capital to Shareholders
Slide 4: Focus on 1H25 results
This content is classified as Internal Focus on 1H25 results
Slide 5: Solid Revenue and EBITDA growth, with continued margin expansion
This content is classified as Internal Solid Revenue and EBITDA growth, with continued margin expansion Net Net Revenues Revenues (€M) (€M) EBITDA (€M) EBITDA margin 53% 53% 50% 51% + 34 bps + 88 bps +3.4% 1,659.7 1,715.5 +5.2% 869.2 826.4 +3.0% +3.7% 878.5 905.3 465.1 482.3 2Q24 2Q25 1H24 1H25 2Q24
Slide 6: Merchant Solutions: continued growth supported by International schemes volumes and value enhancing initiatives
This content is classified as Internal Merchant Solutions: continued growth supported by International schemes volumes and value enhancing initiatives Net Revenues (€M) Managed Transactions (#M) Key Highlights International +8.7% ▪ Sustained International schemes 57%1 Schemes volume growth across ge
Slide 7: Issuing Solutions: growth supported by International schemes volumes and success of more valuable propositions
This content is classified as Internal Issuing Solutions: growth supported by International schemes volumes and success of more valuable propositions Net Revenues (€M) Managed Transactions (#M) Key Highlights 32%1 International Schemes +10.7% ▪ Sustained International schemes number and value of tra
Slide 8: Digital Banking Solutions: continued revenue growth in 2Q25, thanks to volumes and initiatives
This content is classified as Internal Digital Banking Solutions: continued revenue growth in 2Q25, thanks to volumes and initiatives Net Revenues (€M) Key Highlights ▪ Continued revenue growth thanks to positive volumes and initiatives 11%1 evolution, especially in A2A and Instant +1.6% payments 18
Slide 9: Continued revenue growth across geographies in 1H25
This content is classified as Internal Continued revenue growth across geographies in 1H25 59%1 Italy 18%1 Nordics2 Key Highlights ▪ Italy: 1H25 revenue growth supported by International schemes volume growth and +4.0% +3.2% Issuing Solutions performance despite leap 976.4 1,015.1 291.5 300.8 year a
Slide 10: Strong cost performance thanks to operating leverage, cost control and personnel efficiency initiatives
This content is classified as Internal Strong cost performance thanks to operating leverage, cost control and personnel efficiency initiatives from 2Q24 Total Costs (€M) Key Highlights Personnel Costs Operating Costs ▪ Continued organizational efficiency measures and operating leverage limiting cost
Slide 11: Capex and Capex intensity decreasing despite continued investments
This content is classified as Internal Capex and Capex intensity decreasing despite continued investments to support innovation, quality and IT transformation Capital Expenditure1 (€M) Key Highlights % of 1H24 % of 1H25 net revenues net revenues ▪ Continued reduction of total Capex and Capex intensi
Slide 12: Continued reduction of Integration and Transformation Costs
This content is classified as Internal Continued reduction of Integration and Transformation Costs Transformation and Bridge from 1H 2025 transformation and integration costs to non-recurring items (€M) integration costs (€M) Integration costs Transformation costs -5% 36.8 34.8 -33.7 3.3 1.1 -1.1 -7
Slide 13: Continued strong excess cash generation in the semester
This content is classified as Internal Continued strong excess cash generation in the semester Excess cash generation1 (€M) 870.9 -172.5 -54.0 -63.2 581.3 -24.8 +6% y/y -97.8 -51.7 407.1 1H25 Reported Cash Capex Non-recurring ∆ NWC Operating Cash Taxes Net Cash Other Cash Excess Cash EBITDA cash ite
Slide 14: Net Financial Debt / EBITDA at 2.7x, having already returned ~1 €B to shareholders
This content is classified as Internal Net Financial Debt / EBITDA at 2.7x, having already returned ~1 €B to shareholders Net Financial Debt (€M) Key Highlights Jun 24 Sept 24 Dec 24 Mar 25 Jun 25 ▪ ~367 €M reimbursed in June 2025 as planned; remaining ~140 €M of 2025 debt maturities to be repaid wi
Slide 15: 2025 Guidance confirmed
This content is classified as Internal 2025 Guidance confirmed Net Low-to-mid single digit y/y growth Revenues Underlying1 growth acceleration y/y EBITDA At least 50 bps expansion y/y margin Excess cash At least 800 €M generated2 Note: (1) Net of extraordinary high impacts, such as banks’ merchant b
Slide 16: Closing remarks
This content is classified as Internal Closing remarks
Slide 17: Key messages
This content is classified as Internal Key messages Continued delivery of Shaping Nexi for Creating value for our Shareholders profitable growth future profitable growth ▪ Revenues growing at +3.4% vs 1H24, with ▪ Continued progress on partnership-based ▪ Returning 1.1 €B of capital to Shareholders
Slide 18: Q&A
This content is classified as Internal Q&A
Slide 19: Annex
This content is classified as Internal Annex
Slide 20: Group normalised P&L at constant scope and FX
This content is classified as Internal Group normalised P&L at constant scope and FX 1H24 1H25 Δ% vs. 1H24 2Q24 2Q25 Δ% vs. 2Q24 €M Merchant Solutions 942.4 979.5 +3.9% 504.9 522.1 +3.4% Issuing Solutions 539.0 554.7 +2.9% 281.6 288.9 +2.6% Digital Banking Solutions 178.3 181.2 +1.6% 92.0 94.3 +2.5%
Slide 21: Well diversified revenue base both in terms of business and geography at scale
This content is classified as Internal Well diversified revenue base both in terms of business and geography at scale, with exposure to fast growing European markets 1H25 Revenues breakdown 1H25 Costs breakdown by type By business By geography By type Merchant Solutions Installed based Italy Nordics
Slide 22: Bridge from Reported EBITDA to Normalised Net Profit
This content is classified as Internal Bridge from Reported EBITDA to Normalised Net Profit €M 870.9 -458.8 -129.1 62.2 -37.7 328.5 -10.5 6.2 -62.2 222.2 -131.8 87.7 -1.2 -1.7 1H25 D&A Interest Non Taxes Minorities 1H25 At D&A ∆ Interest Non ∆ Taxes Net 1H25 Reported Expenses recurring Reported cons
Slide 23: Bridge from excess cash to cash flow of the period
This content is classified as Internal Bridge from excess cash to cash flow of the period €M ~184 €M share buy-back ~307 €M dividends -495 653 -48 517 407 1H25 Excess Cash Δ Debt Δ Equity Net M&A Cash Flow of the period 23
Slide 24: Debt maturities as of 1H25
This content is classified as Internal Debt maturities as of 1H25 Nexi Group Debt Maturity Schedule1 (€M) Term Loans Senior Notes Convertible Notes 1,750 9002 976 50 1003 ~367 €M already 1,000 1,050 1,000 reimbursed in 926 June 750 500 140 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 Note: (1)
Slide 25: Investor Relations
This content is classified as Internal Investor Relations investor.relations@nexigroup.com Stefania Mantegazza stefania.mantegazza@nexigroup.com