Adyen Net Profit, Revenue Rise on Strong Growth in Core Divisions

By Najat Kantouar

Adyen reported higher net profit and strong revenue growth for the first half, driven by sustained growth across its core regions and customer wins.

The Dutch payments company said Thursday that for the period ended June 30 net profit rose to 409.6 million euros ($451.1 million) from 282.2 million euros for the same period a year earlier, beating a forecast of 399.7 million euros taken from FactSet based on the estimates of two analysts.

Earnings before interest, taxes, depreciation and amortization rose to 423.1 million euros from 320.0 million euros.

Total revenue rose to 1.03 billion euros from 853.55 million euros, below consensus of 1.08 billion euros, based on four analysts' forecasts. Net revenue increased to 913.4 million euros from 739.1 million euros, slightly below consensus of 913.9 million euros based on the estimates of 11 analysts.

Regionally, net revenue contributions remained consistent. North America was the fastest-growing region, posting a rise of 30%. EMEA net revenue grew 25%, while Asia-Pacific and Latin America were up 15% and 2%, respectively.

Looking ahead, Adyen continues to see net revenue growing annually in a percentage range from the low 20s to high 20s, up to and including 2026. For 2024, net revenue is expected at the low end of this range. Ebitda margin is expected to improve to above 50% in 2026, with a capital expenditure level of up to 5% of its net revenue.

Write to Najat Kantouar at najat.kantouar@wsj.com

(END) Dow Jones Newswires

August 15, 2024 02:25 ET (06:25 GMT)

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