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W.A.G payment solutions (EWG) investor relations material
W.A.G payment solutions H1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved strong double-digit net revenue growth of 10.7% year-over-year to €179.5m in H1 2026, with robust margins and lower leverage, despite volatile macroeconomic and fuel price conditions.
Over 65% of customers migrated to the integrated Eurowag Office platform, up from 35% at Q1, with most services now available and increasing engagement.
Recurring revenues, including toll and subscriptions, reached €85m, representing 47% of net revenue.
Strategic focus on integrating services, enhancing product capabilities, and preparing for scaling and monetization in 2027.
Guidance for 2026 reaffirmed, expecting continued growth and margin stability.
Financial highlights
Net revenue rose 10.7% year-over-year to €179.5m; total revenue up 18.5% to €1,377.1m, driven by broad-based growth.
Adjusted EBITDA increased 10.5% to €70.6m (margin 39.3%); adjusted cash EBITDA up 13.2% to €55.7m (margin 31.0%).
Adjusted profit before tax declined 14.7% to €23.7m; adjusted basic EPS down 13.4% to 2.53 cents.
Net income fell to €5.2m from €10.5m in H1 2025, impacted by €8.3m non-cash FX losses, mainly from HUF exposure.
Capitalised R&D up 17.3% to €21.0m; capital expenditure was €26.5m.
Outlook and guidance
FY 2026 guidance: low double-digit net revenue growth, adjusted EBITDA margin around 40%.
Adjusted cash EBITDA expected between €110m–€150m; capitalised R&D to remain below €50m.
Net leverage ratio expected to remain below 2.0x, within the 1.5x–2.5x target range.
Focus for H2 2026 remains on customer migration and platform enhancement, with 2027 shifting to scaling and monetization.
- Organic growth advanced as goodwill impairment drove a reported pretax loss.EWG
H2 2023 - Double-digit revenue growth and digital platform adoption drive robust margins and returns.EWG
Investor presentation - Net revenue up 12.9% to €330.1m, strong margins, and digital platform migration underway.EWG
H2 2025 - Delivered robust FY 2025 growth and expects sustained momentum into 2026.EWG
Q4 2025 TU - Double-digit net revenue growth, strong cash flow, and digital platform rollout drive performance.EWG
H1 2025 - Net revenue up 18.4%, platform rollout and integration on track, despite lower statutory profit.EWG
H1 2024 - Double-digit revenue and EBITDA growth, deleveraging, and digital platform rollout drive FY25 optimism.EWG
H2 2024 - FY 2024 net revenue rose 13.8%, with double-digit growth and platform investment set for 2025.EWG
Trading Update
Next W.A.G payment solutions earnings date
Next W.A.G payment solutions earnings date
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