(Alliance News) - WAG Payment Solutions PLC on Thursday said that its performance was resilient, noting diversification and revenue mix.
Known as Eurowag, the company operating a pan-European payment platform for trucks said it expects net revenue to have jumped 34% to EUR256 million in 2023 from EUR191 million in 2022.
The company expects net revenue growth in the mid-teens in the near-term and to return to high-teens in the medium-term, with margin levels in 2023 to be in line with 2022's.
Chief Executive & Founder Martin Vohanka said: "This performance highlights the resilience of our business model and mission-critical nature of our offering, and demonstrates the success of our key strategic initiatives, which include the diversification of our revenue mix through acquisitions, expanding our customer base and geographic reach and continued focus on cross-sell opportunities."
He added that the company remains on track to "to deliver the industry's first, fully integrated end-to-end digital platform in [the fourth quarter of] 2024, and we remain committed to our purpose of transforming the commercial road transportation industry to make it clean, fair and efficient."
Eurowag shares rose 3.0% to 90.60 pence each on Thursday morning in London.
By Tom Budszus, Alliance News slot editor
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Wag Payment (WPS)