Do we have to worry about Mastercard?

26 / 05 / 2020
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Wirecard didn’t publish of its 2019 annual results for the third time this year. The reason is that their auditor EY needs additional time to finish its work, the German payments company said in a regulatory statement issued after markets closed on Monday night.

“The publication of the consolidated financial statements and the annual press conference will take place on June 18,” the company added in its statement.

The planned meeting of Wirecard annual shareholder meeting, which had been scheduled to take place on July 2 is moved to August 26.

Back then, the company said that full-year revenue was up 38 per cent year on year to €2.8bn while earnings before interest, tax, depreciation and amortisation increased 40 per cent to €785m.

On the other side, its shares have fallen by more than a third since late April when it published the results of a company-commissioned special audit which was created by KFMG. The Big Four accountancy firm could not verify that the “lion’s share” of Wirecard’s operating profits between 2016 and 2018 were genuine.

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