Wirecard totally wired for Q1 2016 profit and revenue
Wirecard pushing hard
Financial services and technology company Wirecard has reported consolidated revenues of €210.5 million in the first quarter of 2016, a rise of 32% on €159.4 million in Q1 2015.
For the period ending 31 March 2016, earnings before interest, tax, depreciation and amortisation (EBITDA) increased by 34.6% to €62 million. For the same period last year it was €46 million.
Group gross profit (“revenue including other own work capitalised less cost of materials”) went up by 36.5% to €105.7 million in the first quarter of 2016. For Q1 2015 it stood at €77.5 million.
Munich-based Wirecard says transaction volumes processed through its platform grew by 35% from €9.5 billion in the previous period to €12.8 billion.
It adds that the proportion of the overall transaction volume generated outside Europe was 29.7% at €3.8 billion. This is growth of 65% on the Q1 2015 figure of €2.3 billion.
The firm says it benefits from the “robust growth” of the European e-commerce market and the “above-average growth” in e-commerce volumes outside Europe.
It recently partnered with CIMB Bank Singapore to provide mobile point of sales (mPOS) card acceptance and banking solutions for clients of POS solution provider Eleos Web.
Wirecard says due to the “internationalisation of e-commerce”, its strategy of “primarily organic growth” in existing locations in Europe and global growth markets will be “supplemented with moderate acquisitions”.
In the coming quarters, the management board says it expects the “good business performance to continue” and “reaffirms its forecast” of EBITDA between €290 million and €310 million for the 2016 fiscal year.
