24th Oct 2024 14:16
(Alliance News) - WAG Payment Solutions PLC on Thursday reported sound revenue growth, as the number of average active payment solutions customers rose.
The London-based company known as Eurowag that operates a toll payment platform across Europe for the commercial road transport industry said net revenue jumped 17% to EUR215.7 million in the first nine months of 2024, from EUR183.7 million a year ago.
The number of average active payment solutions customers rose 13% in the third quarter of 2024, to 20,833 from 18,519 a year ago. Further, the number of average active payment solutions trucks was up 11% at 103,790 from 93,433.
Looking ahead, the company saw early signs of economic recovery, noting it was confident in delivering its unchanged medium-term financial guidance.
Chief Executive Officer Martin Vohanka said: "We continued to deliver high double-digit revenue growth for the first nine months of the year. I am particularly pleased with the pace in which we are migrating our customers onto our new integrated platform, which offers our customers a one-stop shop for tailored solutions enabling them to save costs and enhance their operational efficiencies. Having trialled the Eurowag Office platform with over 250,000 users so far, we remain on track for the phased roll out of the app to new customers in Q4 this year. All of this gives me confidence that we will continue delivering value for all stakeholders and our full year expectations remain unchanged."
Eurowag shares rose 2.0% to 83.40 pence each on Thursday afternoon in London.
By Tom Budszus, Alliance News slot editor
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