NEXI S.P.A. (NEXPF) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning. This is the Coral School Conference operator. Welcome and thank you for joining the NEXE nine-month 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 their telephone. At this time, I would like to turn the conference over to Mr. Paolo Bertoluzzo, CEO of NEXE. Please go ahead, sir. Good morning, good morning to everyone, and welcome to our nine-month results call for 2020-2025. As usual, I'm here with Bernardo Mingrone, our Deputy GM and Chief Financial Officer, with Stefania Mantegazza, Leading AR, and a few more members of our team that may help to answer your questions as needed. As usual, we start with the summary of the key messages. I will hand over to Bernardo to cover the results in more detail, and I will come back for the closing remarks, and most importantly, to answer to your questions. Let me jump to page three with the summary of the key messages. First of all, we continue to deliver profitable growth for the nine months and in the quarter. Revenues are up 2.8% for the nine months and 1.8% in the quarter. As anticipated in the third quarter, We see more material effect of this trading event that we have anticipated when we provided the guidance in March this year. More precisely, we're talking about the bank losses from the past and some key bank contract price and negotiation effects. These effects will peak probably in Q4 this year, and then we'll start slowing down across 2026 with a more material reduction in the second half. The underlying growth, therefore, net of this effect is at about 6% year-on-year, both...