Italian payments group Nexi outlined a three-year strategy aiming for mid-single-digit revenue growth by 2028 after a transitional 2026. The company projects €2.4 billion in excess cash generation through 2028, including €750 million this year, while improving EBITDA margins despite near-term investment costs.

For 2026, Nexi expects revenue to remain flat compared to 2025's 2.1% growth, supported by recovery in merchant solutions. The company forecasts stable EBITDA as it continues strategic investments, with margin expansion expected by the plan's end. Quarterly results showed revenue at €942.5 million, slightly below consensus estimates, while EBITDA slipped to €508.6 million.

Jefferies analysts noted the 2026 targets may appear ambitious given recent momentum and expected ramp-offs. The company proposed a €0.30 per share dividend and plans to increase payouts by at least 5% annually through 2028, distributing over €1.1 billion to shareholders. Nexi faces continued headwinds from merchant-book M&A activity and contract renegotiations through 2026 before gradual improvement.