MUNICH/FRANKFURT – Wirecard (WDIG.DE), the fintech company that last month joined Germany’s DAX .GDAXI blue-chip index, said on Tuesday it expects core profits to grow sixfold by the middle of the next decade thanks to a boom in e-commerce and digital payments.
The company, founded in 1999, is the leading German player in a payments sector that is rapidly expanding as established banks struggle to shake off the legacy of the global financial crash a decade ago.
Earnings before interest, taxation, depreciation and amortization (EBITDA) are forecast to exceed 3.3 billion euros ($3.79 billion), according to a Vision 2025 strategy due to be presented at an investor day in London.
The long-term outlook compares with EBITDA guidance for this year of between 530 and 560 million euros, which Wirecard confirmed along with its existing forecasts for 2020.
Its shares rose 5 percent in Frankfurt to 173 euros, making Wirecard the biggest gainer on the DAX .GDAXI.