Operator
Good morning. This is the Chorus Call conference operator.
Welcome, and thank you for joining the Nexi First Half 2026 Financial Results Presentation. [Operator Instructions] At this time, I would like to turn the conference over to Bernardo Mingrone, CEO of Nexi. Please go ahead, sir.
Bernardo Mingrone
CEO, Group GM & Director
Good morning, everyone, and welcome back to our first half results call. I’m here today with Piergiorgio and Stefania. We will take you through our documents. And then at the end, we will open up the floor for Q&A as is usual.
Let me start with a few introductory remarks with regards to the highlights of the first half. I would say that the first half has been very much consistent throughout the first quarter and the second quarter. As you can see, revenues grew 1% overall, similar to what it was in the first quarter also for the second quarter.
Importantly, our underlying growth is pretty steady at around 5%, as we have discussed at length also during the Capital Markets Day presentation back in March. Our EBITDA in the first half was broadly stable. And I would like to highlight how excess cash generation was EUR 400 million, pretty similar to what it was in the first half last year. So a figure of data, which is comforting and puts us in a good position compared
