Wirecard AG
XHAM:WDI
Wirecard AG
Wirecard AG engages in the provision of software and information technology for payment processing and issuing products in the field of outsourcing and white label industry. The company is headquartered in Aschheim, Bayern. The company went IPO on 2000-10-25. The company operates through three segments: the Payment Processing and Risk Management (PP&RM) segment, which accounts for all products and services for electronic payment processing and risk management; the Acquiring & Issuing (A&I) segment, which comprises the activities of Wirecard Bank AG, including credit card issuing and credit card sales revenues statements for online and terminal payments, as well as offers processing of clients' payment transactions via accounts kept with Wirecard Bank AG, and the Call Center & Communication Services (CC&CS) segment, which offers all products and services related to call center-supported relationship management of corporate and private customers, including after-sales service and mailing activities, among others.
Wirecard AG engages in the provision of software and information technology for payment processing and issuing products in the field of outsourcing and white label industry. The company is headquartered in Aschheim, Bayern. The company went IPO on 2000-10-25. The company operates through three segments: the Payment Processing and Risk Management (PP&RM) segment, which accounts for all products and services for electronic payment processing and risk management; the Acquiring & Issuing (A&I) segment, which comprises the activities of Wirecard Bank AG, including credit card issuing and credit card sales revenues statements for online and terminal payments, as well as offers processing of clients' payment transactions via accounts kept with Wirecard Bank AG, and the Call Center & Communication Services (CC&CS) segment, which offers all products and services related to call center-supported relationship management of corporate and private customers, including after-sales service and mailing activities, among others.
Strong Growth: Wirecard reported revenue up nearly 37% and EBITDA up 38.4% for the first nine months of 2019, with organic growth in Q3 outpacing H1.
Guidance Confirmed: Management strongly confirmed full-year 2019 guidance and introduced a 2020 EBITDA guidance of EUR 1.06 billion, describing it as conservative.
China Expansion: Announced entry into China through the acquisition of a licensed company, with anticipated revenue contributions of EUR 400 million in 2021 and EUR 450 million in 2022.
KPMG Audit: An independent review by KPMG was initiated to address recent allegations, with management reiterating confidence in its accounting and promising full disclosure of the audit's scope and results.
Robust Sales Pipeline: Large new client wins have continued despite external volatility, with management reporting no negative business impact from recent allegations.
Strong Cash Flow: Free cash flow conversion reached 74.5% (above company targets), and the company ended September with nearly EUR 3.3 billion in cash and equivalents.
