According to the latest report, W.A.G Payment Solutions achieved a remarkable 35.5% growth in net revenue, reaching an impressive total of 183.7 million euros ($196 million). This growth was primarily driven by sustained organic expansion through the acquisition of new customers and cross-selling of new capabilities.
Specifically, the company witnessed substantial growth in its mobility solutions revenue, which soared from EUR38.7 million to EUR77.7 million for the same period last year. This remarkable increase further solidifies W.A.G Payment Solutions' position as a leader in the industry.
Chief Executive Martin Vohanka expressed his satisfaction with the recent acquisitions, stating, "Following recent acquisitions, our revenue mix has been further diversified towards mission-critical data-centric software solutions. We are capitalizing on the synergies and significant cross-sell opportunities presented."
Looking ahead, the company remains confident about its future prospects. It expects its margin levels for 2023 to be in line with 2022 at around 43%. Furthermore, W.A.G Payment Solutions anticipates long-term improvement as operational leverage and acquisition synergies continue to be realized. The company aims to achieve an even higher margin in the high-forties range in the medium-term.
W.A.G Payment Solutions' impressive revenue growth reflects its unwavering commitment to excellence and innovation. As it continues to expand and diversify its business, it is well-positioned for continued success in the highly competitive payments and mobility industry.