NEXI S.P.A. (NEXPF) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning. This is the course called Conference Operator. Welcome and thank you for joining the NEXI First House 2025 Financial Results presentation. As a reminder, all participants are in listen-only mode. After the presentation, there will be an opportunity to ask questions. Should anyone need assistance during the conference call, they may signal an operator by pressing star and zero on the telephone. At this time, I would like to turn the conference over to Paolo Bertoluzzo, CEO of NEXI. Please go ahead, sir. Thank you. Good morning. Good morning to everyone, and welcome to our call for the first half of 2025. As usual, I'm here with Bernardo Migroni, our Deputy GM and CFO, Stefania Mantegatta, who leads our investor relations activities, and a number of colleagues that may provide help in case we want to deep dive on very specific topics. Today I will start by providing a short overview of the progress in the first half and the key messages associated to it. We'll then go over to Bernardo for results and come back for conclusions and most importantly to go with Bernardo to answer to your questions. Let me start on page three of the document with a summary of our key messages. First of all, we continue to deliver profitable growth and I would add strong cash generation. The first half of the year, revenues were up 3.4%, with merchant solutions up close to 4%, but actually growth across all business units and growth across all regions as well. In the first half, EBITDA did grow at 5.2%, with an 88 basis point EBITDA margin expansion, thanks to a combination, obviously, of top-line growth, continued operating leverage, and strong cost control, with OPEX growing in the first half below 2%. And last but not least, and most importantly, I would say, given the stron...