|Bid||125.40 x 37100|
|Ask||125.45 x 20900|
|Day's Range||124.60 - 131.35|
|52 Week Range||93.12 - 162.30|
|Beta (5Y Monthly)||0.44|
|PE Ratio (TTM)||32.11|
|Earnings Date||Apr 08, 2020|
|Forward Dividend & Yield||0.20 (0.16%)|
|Ex-Dividend Date||Jun 19, 2019|
|1y Target Est||205.49|
Wirecard, the global innovation leader for digital financial technology, today announced that it is helping German financial services giant SIGNAL IDUNA extend its online and mobile services with new payment methods. Consumers will be able to take out and pay for insurance online. Wirecard processes the payments as well the payouts in the case of successful claims. The company – that provides insurance policies for health, travel, household and more – also famously sponsors the Borussia Dortmund football stadium, the largest in Germany.
When you buy shares in a company, it's worth keeping in mind the possibility that it could fail, and you could lose...
Wirecard, the global innovation leader for digital financial technology, and Raiffeisen Bank International (RBI) today announced an extensive cooperation in the area of financial services. Within the terms of the agreement, the two companies are jointly offering merchants in a total of 13 Central and Eastern European countries a complete range of financial services via the Wirecard Financial Commerce platform.
(Bloomberg Opinion) -- SoftBank Group Corp. became vulnerable to activist attack by Elliott Management Corp. because of the harmful noise generated by the Japanese technology investor’s giant Vision Fund. That noise just won’t die down.Sunday brought a report in the Financial Times that Vision Fund head Rajeev Misra is looking to raise a multi-billion dollar fund to buy listed stocks. The blueprint was established last year with SoftBank’s investment in controversial German payments company Wirecard AG via a convertible bond. The new plan looks like a bid to do more unconventional equity investments in the same vein.The development marks a strategic departure. After all, the $100 billion Vision Fund was established to take stakes in private, tech-focused startups. SoftBank has already had to deny that there’s a “misalignment” between Misra and the group’s founder and Chief Executive Officer Masayoshi Son over the idea of investing more in public companies. But it’s not hard to see why Son, and other SoftBank shareholders, might need persuading.Setting up a listed-equity vehicle would bring in new revenues from management and performance fees. It could also create capital gains (or losses) from any investments in the fund that are made using SoftBank’s own capital. Whether it would make such commitments — and the decision-making around any such moves — is unclear. The FT said funding of about $4 billion is being lined up from sovereign funds in Abu Dhabi and Kazakhstan.There is some logic to Misra’s idea. It would, theoretically, marry SoftBank’s nous in emerging technology with the experience in trading and structured products possessed by a bunch of former bankers working for the Vision Fund. The result could bring a new dimension to SoftBank, similar to how the American buyout giants have become purveyors of real-estate, private-equity and credit strategies.The numbers being spoken of may be small relatively. But SoftBank’s core competence is in a specific sector, technology, and a specific category, late-stage venture capital. It needs to be crystal clear about why it would have an edge in the listed markets. The new offshoot would engage in financial engineering by wrapping listed investments in leveraged structures. But would it be looking to hire people or engage advisers with that expertise in a public-equity strategy if it didn’t already have it on the payroll? Or is the tail wagging the dog?SoftBank shares trade at a near 60% discount to net asset value, hence Elliott’s interest. That’s due largely to high-profile mishaps in the Vision Fund, such as WeWork, even though the fund still accounts for only a 10% slice of SoftBank’s overall managed assets. The risk is that, as with the Vision Fund, this venture has an outsized impact on sentiment toward SoftBank overall.Ironically, SoftBank has a huge opportunity already to dabble in the stock market and do financial engineering. The discount at which its shares trade means it could buy nearly $50 billion of underlying investments by spending $20 billion on its own stock. Son could fund such a buyback either by raising debt or selling some of SoftBank’s shares in Alibaba Group Holding Ltd., Sprint Corp., telecoms subsidiary SoftBank Corp. or even chipmaker Arm Holdings via a public offering. Maybe the brains in the Vision Fund could start by identifying which of these levers to pull.To contact the author of this story: Chris Hughes at email@example.comTo contact the editor responsible for this story: James Boxell at firstname.lastname@example.orgThis column does not necessarily reflect the opinion of Bloomberg LP and its owners.Chris Hughes is a Bloomberg Opinion columnist covering deals. He previously worked for Reuters Breakingviews, as well as the Financial Times and the Independent newspaper.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Wirecard, the global innovation leader for digital financial technology, and wirecube have won Austria's largest supermarket chain BILLA as a new customer. With the BILLA Scan & Go app, customers can pay for their purchases directly in the app. The solution can be used for all products that are available in-store. Part of the REWE Group, BILLA operates 1,100 stores in Austria.
(Bloomberg) -- Wirecard AG , the German payments processor struggling to move on from allegations about questionable accounting methods, posted full-year revenue that beat analysts’ estimates while legal fees and audit expenses weighed on profit.The company reported preliminary full-year revenue that rose about 38% to 2.8 billion euros ($3 billion), versus analyst projections of 2.7 billion euros, it said in a statement Friday.Earnings before interest, tax, depreciation and amortization were 785 million euros last year. Excluding expenses for audit, advisory and legal services in the fourth quarter, ebitda was 794 million euros. That compared to an estimate of 792.3 million euros, according to the average of analysts in a Bloomberg survey. The company will publish audited figures on April 8.Wirecard’s shares were whipsawed last year after a Financial Times report raised allegations about its accounting methods. The company’s rejected the charges and, in an attempt to assuage rattled investors, in October gave auditors at KPMG unrestricted access to its books.Read more: Wirecard Chairman Resigns in Midst of Accounting Controversy“Given the ongoing high customer growth in 2019 as well as the structural drivers such as the shift to cashless payments and steadily growing e-commerce, growth should remain dynamic in 2020,” analysts from Hauck & Aufhaeuser said in a note to clients on Friday.Shares fell about 1% to 142.50 euros at 10:56 a.m. in Frankfurt. The stock has gained 32% this year.Wirecard also confirmed its 2020 outlook.Wirecard’s revenue soared in 2018 after it bought more than 15 companies in a few years. But in a series of articles last year, the Financial Times reported allegations of accounting fraud at Wirecard in Singapore and other Asian countries. The company hired law firm Rajah & Tann to investigate. A final report from the firm in March 2019 acknowledged accounting oversights and potential criminal liability among some Singapore staff, but didn’t find evidence of criminal activity linked to Wirecard’s German headquarters.The FT then reported in October that payments processed by a Dubai-based partner company in 2016 and 2017 may not have taken place. Wirecard called those allegations “total nonsense,” but controversy has continued to dog the company, a member of Germany’s benchmark DAX index.Wulf Matthias resigned as chairman of the supervisory board in January and was replaced by Thomas Eichelmann -- head of the body’s audit committee.Why Germany’s Wirecard Is No Stranger to Controversy: QuickTake“This is a strong result on our path for profitable growth,” Chief Executive Officer Markus Braun said. “Above all, it is very clear evidence of the sustained profitability of our business model.”(Updates with analyst comment in fifth paragraph, CEO comment in final paragraph. A previous version of this story corrected the period for adjusted Ebitda.)To contact the reporter on this story: Sarah Syed in London at email@example.comTo contact the editors responsible for this story: Giles Turner at firstname.lastname@example.org, Amy ThomsonFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
China's announcement of more than 5,000 new coronavirus cases and 121 new deaths indicate the epidemic hasn't peaked yet. A pan-European index is in fact opening at record highs, buoyed by … answers on a postcard. The thinking appears to be the virus impact will not last, it’s not spreading outside China as fast as feared and above all, central banks can step in -- slower growth will bring more stimulus, or at least lower interest rates for longer.
Payments company Wirecard reported strong quarterly results in line with analyst expectations on Friday and reiterated guidance for core profit growth of 34% this year. There was no update on an outside audit to address Financial Times allegations of fraud and false accounting that have dogged the Munich-based company over the past year. KPMG is due to report its findings by the end of March, Wirecard has said.
Wirecard announced another quarter of rapid sales growth and reiterated guidance for the pace to continue in 2020, as the German fintech attempts to move past questions about its accounting practices and a criminal investigation into several Asia subsidiaries. documents which appeared to indicate a concerted effort to inflate profits at Wirecard units in Dubai and Dublin. The headline sales and profit figures came a day after Wirtschaftswoche, the German business weekly, raised new questions about Wirecard’s practices and past statements in articles based on internal company documents.
Wirecard, the global innovation leader for digital financial technology, and SAP, the market leader in enterprise application software, are taking their long-standing partnership to a new level. Wirecard will combine its technologies with individual product divisions of SAP to deliver joint solutions that complete the customer journey and offer new kinds of digital customer experiences. Possible application scenarios include the area of "New Mobility" as well as in retail and sporting events.
(Bloomberg) -- Worldline SA’s 7.8 billion-euro ($8.6 billion) acquisition of rival Ingenico Group SA will create a European payments giant, but the combined French behemoth may still simply not be big enough to face off globally against its substantial and fast-moving U.S. competition.Trillion-dollar tech firms like Apple Inc. and Amazon.com Inc. are rapidly expanding their payment products across the globe, and Apple Pay has already eclipsed the mobile payment solution offered by Copenhagen-based Nets A/S. Paypal Inc. posted $17.8 billion last year, and Fiserv Inc., which acquired First Data Corp. in the same period, generates about $15.3 billion in revenue.Worldline plans that its latest acquisition -- the biggest deal of the year so far in Europe -- will help it generate annual revenue of about 5.3 billion euros, however. And, with the Ingenico purchase, it also takes on a company that for years has struggled to pivot from legacy operations of capturing transactions on behalf of credit card companies in stores, toward areas like online shopping.Worldline Chief Executive Officer Gilles Grapinet says there are more deals to consider.“While acquisitions certainly enable us to acquire new innovative solutions and talent to strengthen our ranks, they also significantly increase our strength in innovation,” he told Bloomberg, adding that the company planned to remain “a driving force” behind industry consolidation on the continent.The global payments industry may reach $2.7 trillion a year in revenue by 2023, according to research by McKinsey, and is spread among those who help connect consumers, merchants, and banks. Worldline is already a European leader in many of those areas. The Ingenico merger will also vault it above Germany’s Wirecard AG in terms of market value, behind only Dutch-based Adyen AG.Worldline’s share price has gained about 10% for the year to date, and about 36% over the past 12 months. The presence of a sizable and growing European payments firm among U.S. giants will help speed up the ongoing consolidation on the continent, said Martina Weimert, Partner in the Financial Services Practice at Oliver Wyman.But Jonathan Simnett, director at the tech mergers and acquisitions advisory firm Hampleton Partners, described Worldline’s Ingenico deal as “defensive.”“They will still be under pressure as buying habits continue to change and more transactions move online,” he said. “They must move very quickly to stay relevant.”A clue as to whether and how Worldline can do so may be found in observing its loyalty toward old businesses, both of its own and those of its deal targets. For instance, the strategic review for Ingenico’s legacy business of terminals leaves “options open” for that unit, Grapinet told reporters on Monday.Like it’s U.S. rivals, Worldline is also trying to find startups that can keep it nimble. Last year it helped create a fintech incubator focusing on e-payments, and partnered with Swiss crypto financial-services Bitcoin Suisse to get a footprint in the cryptocurrency payment services.“Everybody is under competitive pressure, everyone is trying to grab more of a declining market,” said Simnett. “Expect bigger players to form, we will see more consolidation.”(Updates with shares in 7th paragraph; earlier version corrected Worldline company name in 8th)To contact the reporter on this story: Helene Fouquet in Paris at email@example.comTo contact the editors responsible for this story: Giles Turner at firstname.lastname@example.org, Nate LanxonFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Munich Airport is the first airport in Europe to offer a new mobile, cashless payment system in a retail location. The airport is playing a key role in driving forward easy payments in the retail sector with a self-checkout. The solution was developed by Wirecard in cooperation with SES-imagotag and wirecube, while eurotrade, a subsidiary of Flughafen München GmbH, laid the cornerstone for its introduction at Munich Airport. Consumers can pay for items with their own smartphone directly at the shelf using an electronic price tag, without having to wait in line at the checkout. Instead of paying via an app, the customer pays via a mobile website, meaning that, unlike similar solutions in the European market, users do not need to download an app beforehand.
Most shoppers are now ready and waiting for retailers to implement innovative payment methods and in-store technologies to improve their shopping experience. These findings are part of a global study of 6,000 consumers in select countries in Europe, APAC and the Americas, commissioned by Wirecard, the global innovation leader for digital financial technology.
(Bloomberg) -- Worldline SA agreed to buy rival Ingenico Group SA in a 7.8 billion-euro ($8.6 billion) deal the French technology companies say will form one of the largest payment-services providers.The two companies had been circling each other for years, and Worldline Chief Executive Officer Gilles Grapinet said on a conference call Monday that Ingenico’s reorganization last year made it the right time to bid.The takeover – the biggest of the year so far in Europe – continues last year’s spate of payments company mergers, which included a series of major deals from Fiserv Inc., Fidelity National Information Services Inc. and Global Payments Inc.Ingenico shareholders will receive 123.10 euros a share in cash or a mixture of cash and shares, the companies said Monday. That’s 17% higher than the stock’s last closing price. Worldline is also offering to buy bonds that are convertible into Ingenico shares. Worldline shareholders will own about 65% of the combined company.Ingenico gained as much as 14% in Paris on Monday, rising to 119.9 euros, the biggest intraday move in more than a year. Worldline fell as much as 8.6%.The deal looks “very positive” for Worldline at first glance, giving the company an opportunity to add to its European leadership team and increase its market share, analysts at Bryan Garnier & Co. said in a note Monday. The combined company will also have a more diversified profile than its U.S. peers, they said.Read more about Ingenico’s management shakeup here.The deal comes after a number of challenging years for Ingenico, which provides payments processing services to customers including banks, retailers and e-commerce sites, and is one of the few large firms to remain independent in the rapidly consolidating payments industry in Europe.Ingenico for years has been pushing to refocus from its legacy business -- capturing transactions on behalf of banks or credit card companies using hardware terminals in stores -- toward new services in areas like online shopping.In November 2018, Ingenico CEO Philippe Lazare was removed following a request from the board. Lazare, who led the company for 11 years, had been under increasing pressure over its performance and management struggled to convince investors of the merits of its legacy terminals business.Ingenico has since recovered, its shares more than doubling in the past year after Chief Operating Officer Nicolas Huss took over as CEO in a move many thought could lead to a potential deal. The same month, Natixis SA declined to bid for Ingenico after holding preliminary talks.“Timing is everything,” Grapinet said when asked on a call with analysts why the company didn’t attempt to buy Ingenico last year. “If you look at the stock price, it could’ve been a bargain, but I’m not sure the board of Ingenico would’ve been ready to sell.”Worldline was spun out of French computer-services provider Atos via an initial public offering in 2014, and with a 11 billion-euro market value is now bigger than its previous owner. In 2018 Worldline snapped up SIX Group AG’s payments business for 2.3 billion euros, in one of the first deals that sparked the ongoing wave of consolidation in the industry.“The combination of Worldline and Ingenico offers a unique opportunity to create the undisputed European champion in payments,” Ingenico Chairman Bernard Bourigeaud said in a statement Monday. “This transaction comes at the time of accelerating consolidation of the industry.”French state investor and Ingenico shareholder Bpifrance Financement SA said it “fully supports” the deal and in a statement said it was “committed to contribute its Ingenico shares to Worldline’s public offer and intends to become a long-term reference shareholder of the combined entity.” Bpifrance owns about 5.3% of Ingenico shares according to data compiled by Bloomberg.SIX Group and Atos, Worldline’s largest shareholders, are also in favor of the deal.Payments dealmaking may be set to continue. Worldline will become the “platform of choice for further consolidation in Europe” Grapinet said on the call.Investors have been keen to cash in on alternatives to traditional banking services. Vista Equity Partners is considering selling a stake in Finastra in a deal that could value the company at more than $10 billion including debt, Bloomberg News reported in October.Earlier in January Visa Inc. agreed to pay $5.3 billion for Plaid, a fintech firm that connects popular apps like Venmo to customers’ data in the established banking system.The combined market value of Ingenico and Worldline will be about 19 billion euros as of trading Monday, leapfrogging rival Wirecard AG.(Updates with context throughout, share price, comments from analyst call)\--With assistance from Tara Patel and Thomas Mulier.To contact the reporter on this story: Amy Thomson in London at email@example.comTo contact the editors responsible for this story: Giles Turner at firstname.lastname@example.org, Nate LanxonFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Wirecard, the global innovation leader for digital financial technology, has won HEYTEA, China's most popular tea brand, as a new client in South-East Asia. As part of the collaboration, Wirecard provides seamless payment solutions to customers in all stores in Singapore and Hong Kong via HEYTEA GO, a newly launched mobile app which allows users to order and pay online without waiting in stores. Founded in China in 2012, the tea chain now manages more than 400 stores in over 37 cities in China and abroad.
Wirecard (ETR:WDI) shareholders are no doubt pleased to see that the share price has had a great month, posting a 34...
Wirecard, the global innovation leader for digital financial technology and UZE Mobility, open innovation platform for e-mobility services, have entered into a strategic partnership. The companies will join forces, combining their payment and geolocation technology to launch innovative services in e-mobility and further driving the megatrend New Mobility and Commerce on the Move.
The new chairman of Wirecard said the German payments company needed to strengthen its top management as it fights allegations of fraud and false accounting, while giving Chief Executive Markus Braun a vote of confidence. Braun's contract expiring at the end of this year will definitely be extended, Thomas Eichelmann told Manager Magazine in an interview published on Wednesday.
Wirecard, the global innovation leader for digital financial technology, and EasyTransfer are collaborating to enable seamless mobile payments for digital-native Chinese students. Together the two companies are launching a new mobile payment and loyalty app designed for Chinese students studying outside of China. Approximately $3.8 billion in tuition payments were transferred via EasyTransfer in the first year alone.