Growth in PagoNxt's Q1 2024 performance attributed to merchant base expansion and increased interest earnings
In a significant development, PagoNxt, a business within Santander, has reported an impressive improvement in its quarterly EBITDA margin. The margin now stands at 17%, a substantial increase from 7.5% in Q1 2023.
This positive trend continues into the first half of 2025, with PagoNxt's underlying quarterly EBITDA margin reaching 28.8%. This represents an improvement of 8.7 percentage points year-on-year, moving closer to their target of 30% by 2025.
The growth in revenues and EBITDA margin can be attributed to rising merchant volumes and interest rates. Key underlying figures supporting this growth include a 15% increase in Getnet's Total Payment Volume (TPV) and a 7% rise in transaction numbers, alongside a 9% increase in card spending.
Additionally, PagoNxt reported revenues of €283m in Q1 2024, marking a 16% increase (13% in constant euros). The company is now part of Santander's newly created Payments segment.
Despite returning to a loss in Q1 2024 with a profit before tax of -€27m, lower than -€43m in Q1 2023, the overall P&L attributable to the parent company for PagoNxt showed losses of -€39m in Q1 2024, lower than -€55m in Q1 2023.
Access to this information is available through a free account, which also grants access to an industry-leading newsletter. It's important to note that no conflicting or additional data on quarterly EBITDA margin figures for PagoNxt was found in the search results.
PagoNxt offers research and analysis on cross-border payments globally, further cementing its position in the payments industry. However, no specific information about the company's financial performance or growth factors before Q1 2023 was provided.
[1] PagoNxt Q1 2024 Results Announcement [2] PagoNxt H1 2025 Results Announcement
- The impressive growth in PagoNxt's EBITDA margin, from 17% in Q1 2024 to 28.8% in the first half of 2025, indicates a positive shift in their finance and business strategy.
- The increase in revenues, EBITDA margin, and underlying figures such as Total Payment Volume (TPV) and card spending, signal a strong business performance for PagoNxt in the finance sector.
