Germany’s Wirecard forecasts core profits to expand sixfold by 2025
Wirecard, the Bavaria-headquartered fintech firm, has revealed its forecast for the coming seven years.
By 2025 the German company anticipates its core profits will increase by six times as much as current figures, Reuters reported.
The growth is expected to be attributed to e-commerce and online payments, as the company expands across alternative payment systems.
Wirecard expects its earnings before interest, taxation, depreciation, and amortization (EBITDA) to hit €3.3bn (US$3.79bn) in the middle of the next decade.
The figures, which the company claims are conservative, were unveiled in the firm’s Vision 2025 strategy.
“All the figures that we are giving represent the bottom end of the range - I want to stress that,” Markus Braun, CEO of Wirecard, informed Reuters.
The firm anticipates its EBITDA for 2018 will reach between €530mn ($608.8mn) and €560mn ($643.24mn).
Wirecard saw its shares rise by 87% this year, subsequently leading to the company joining Germany’s DAX blue stock index.
According to a Baad Helvea analyst, Knut Woller, the forecast demonstrates how Wirecard’s success earlier this year “was not a ‘one-hit wonder’”, Reuters reported.