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Wirecard further lifts FY'19 EBITDA outlook amid 'dynamic' e-commerce growth

Wirecard AG further raised its 2019 EBITDA forecast, to between €765 million and €815 million from a previous guidance of between €760 million and €810 million, on the back of a "continued dynamic growth" in global e-commerce, shift to digitalization in the bricks and mortar trade and an increase in customers, among other factors.

This comes as the firm reported an EBITDA for the second quarter of €184.1 million, up from an adjusted €135.8 million a year ago. Total revenues in the quarter also increased on a yearly basis, to €643.0 million from the year-ago €467.9 million.

In the first half, meanwhile, EBITDA came in at €342.1 million, up from an adjusted €252.0 million a year ago. Total revenues jumped year over year to €1.21 billion from €885.2 million.

The German payments company also raised its Vision 2020 forecast, expecting transaction volumes to breach €230 billion and consolidated revenue levels to be above €3.2 billion. Transaction volumes in the first half rose 37.5% to €77.3 billion from €56.2 billion a year ago.

CEO Markus Braun said the company is "extremely optimistic" going into the second half.