German payments provider Wirecard raises long-term outlook
Source: Busiunion | 2019-10-09
German financial service provider Wirecard raised its long-term outlook for 2025 on Tuesday.
According to its Vision 2025 company strategy, Wirecard is expecting to facilitate cash transfers amounting to more than 810 billion euros (889 billion U.S. dollars) in 2025.
In a previous outlook, Wirecard had only expected to achieve a transaction volume of more than 710 billion euros. In 2018, it had processed payments amounting to around 125 billion euros.
In addition, Wirecard has increased its anticipated revenues from 10 billion euros to 12 billion euros and is expecting operational profits (EBITDA) to amount to 3.8 billion euros in 2025.
A better long-term outlook resulted from "strong, accelerating growth drivers" as well as "powerful partnerships" such as Japan's SoftBank, one of the world's largest investors in the tech sector.
Back in April, SoftBank and Wirecard had signed a binding agreement under which an affiliate company of the Japanese investment company is set to invest about 900 million euros in the German financial company.
However, shares of Wirecard suffered losses after trading commenced and fell 2.6 percent on Tuesday afternoon local time.