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Wirecard sought to end an accounting scandal on Thursday when the German payment group announced that the EY auditor had stopped his accounts for 2018 and that the supervisory board had agreed to steps to improve the company's processes. .
The publication of the annual results was delayed by three weeks after Wirecard revealed that certain employees could be prosecuted in the group unit in Singapore, where a police investigation into falsification and fraudulent accounting was open.
According to the auditor's report, nothing indicates to date that the annual results for 2018 need to be corrected with regard to Singapore's whistleblowing charges. However, he added that the ongoing investigation of the police in the city could give rise to new information that could affect Wirecard's accounting.
The group has announced a net profit of 374 million euros for 2018, up from 256 million euros the previous year, broadly in line with badysts' expectations, according to S & P Global Market Intelligence. The group said it processed payments in the amount of 125 billion euros in 2018, compared with 91 billion euros the previous year.
The figures came a day after Wirecard announced a new € 900 million loan from SoftBank in Japan, in the form of a bond converted into shares. The company announced Thursday a net cash of 1.6 billion euros by the end of 2018, on the preferred measure of this measure.
Wirecard has announced an operating cash flow of 760 million euros, up 35% from the previous year. He indicated that he wished to slightly increase his dividend, from the 22 million euros paid to shareholders last year. The company does not make any redemption of shares.
Earnings before interest, taxes, depreciation and amortization increased 37% in 2018 to 560.5 million euros, thanks to a 35% increase in revenues, which reached 2.02 billion euros. Wirecard confirmed Thursday its ebitda target for 2019 of 740 to 800 million euros. Analysts had forecast on average 770 million euros in ebitda this year.
The results of the company follow three months of struggle against an accounting scandal. In January, the Financial Times revealed the existence of an internal investigation into an alleged book-making operation involving the group's chief financial officer.
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Before the publication of this report, Wirecard's shares were € 162. During the first transactions on Thursday morning, shares rose 2.3% to € 137.10.
Wirecard said its supervisory board had discussed with senior executives "possible measures to improve structures and processes".
"With its high level of technology and global presence, Wirecard has entered the next stage of its growth path," said Managing Director Markus Braun in a company statement.
The group's press conference will start at 10 am German time on Thursday in Aschheim.
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