Nexi to generate 2.8 billion euros for M&A, buyback in 2023-25

MILAN (Reuters) – Nexi said on Tuesday it estimated an excess cash generation of around 2.8 billion euros ($2.70 billion) in 2023-2025 which can be used to pursue M&A opportunities or to return capital to shareholders via buyback and dividends.

Under a new strategic plan, the Italian payments group sees a compound average growth rate of around 20% in 2021-2025 for its normalized earnings per share (EPS), it said in a statement.

($1 = 1.0378 euros)

(Reporting by Gianluca Semeraro; editing by Federico Maccioni)