Eurowag reports double-digit first-half growth

(Sharecast News) - Eurowag reported double-digit first-half growth on Thursday, with strong cash generation helping to reduce leverage and support confidence in meeting full-year guidance.

The FTSE 250, Prague-based payments and mobility platform posted a 15% rise in net revenue to €162.2m in the six months ended 30 June, driven by a 22.7% increase in payment solutions to €97.9m and 4.9% growth in mobility solutions to €64.3m.

Toll revenues surged 50.3% while energy revenues rose 11.4% on higher volumes.

Adjusted EBITDA increased 7.7% to €63.9m, while adjusted profit before tax climbed to €27.8m from €21.6m a year earlier.

Cash generation supported a reduction in net debt to €244.6m from €275.5m at the end of 2024, bringing net leverage down to 2.0 times from 2.6 times a year ago.

Statutory profit before tax jumped to €15.7m from €4.2m, with basic earnings per share rising more than four-fold to 1.53 cents.

The group said it continued to make progress with the phased rollout of its integrated platform, Eurowag Office, migrating customers and products while launching features such as an e-wallet, AI-driven load cost calculator and document processing tools.

Capital expenditure rose to €24.7m, including €17.9m of capitalised R&D investment.

"Eurowag has delivered an impressive performance for the first half with double-digit net revenue growth and strong cash generation, despite the sustained macroeconomic challenges," said founder and chief executive Martin Vohánka.

"This continued market outperformance is a testament to our robust business model and the critical role we play in helping our customers on the road.

"We have made good progress in the phased roll out of our new integrated platform, Eurowag Office, progressively migrating solutions and customers, as we continue Eurowag's transformation into a data-centric and AI driven company."

The company reiterated its full-year 2025 guidance, expecting low-teen net revenue growth, adjusted cash EBITDA in the middle of its €90m to €100m target range, and net leverage to remain around 2.0 times even after paying a €24.3m special dividend in July.

Separately, Eurowag said its London Stock Exchange ticker would change from WPS to EWG on 8 September to align with its brand.

At 0904 BST, shares in WAG Payment Solutions were up 0.42% at 95p.

Reporting by Josh White for Sharecast.com.