W.A.G payment solutions plc (WPS.L), commonly known as Eurowag, on Tuesday announced that it expects higher revenues in its fourth quarter and fiscal 2024. Looking ahead to fiscal 2025, the company said its Board remains confident in delivering results in line with full year 2024 expectations.
In its trading update for fiscal 2024, the integrated payments and mobility platform said it expects fourth-quarter net revenue to be around 76.4 million euros, a 4.9% year-on-year increase from last year's 72.8 million euros.
Underlying trading continues to be positive with mobility solutions growth.
For fiscal 2024, total net revenue is expected to be around 292.0 million euros, up 13.8% from last year, in-line with guidance and significantly ahead of the market growth.
Mobility solutions revenue is expected to be up 14.8% and Payment solutions revenue would grow 13.2%.
The company said the growth in active payment solutions trucks continues to be driven by targeted campaigns to accelerate customer acquisitions, re-activation and cross-sell in energy and toll services.
For fiscal 2025, the company projects net revenue to grow low double-digits and adjusted EBITDA margins to be sustained, amid weaker macroeconomic outlook for Europe, as well as Eurowag's ongoing internal priorities.
Eurowag expects to announce its full year results and outlook, including a cash EBITDA target for FY25, on March 25.
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