Global fintech Adyen (AMS: ADYEN) has recently published its H2 2023 financial results.
Adyen delivered a period of profitable growth as the company reportedly finished its “accelerated investment phase of growing its global team.”
Adyen has shared the following H2 2023 figures:
- Processed volume was €544.1 billion, up 29% year-on-year. Of these volumes, total point-of-sale volumes were €92.9 billion, up 37% year-on-year.
- Net revenue was €887.0 million, up 23% year-on-year.
- EBITDA was €423.0 million, up 14% year-on-year, with EBITDA margin landing at 48%.
- This figure was primarily impacted by team growth, which tempered as the accelerated investment initiative came to a close.
- Free cash flow conversion ratio was 93%, with CapEx at 2% of net revenue.
Adyen also share its Full-year 2023 figures:
- Processed volume was €970.1 billion, up 26% year-on-year. Of these volumes, point-of-sale volumes were €159.9 billion, up 42% for the full year.
- Net revenue was €1,626.1 million, up 22% year-on-year.
- EBITDA of €743.0 million, up 2% year-on-year.
- EBITDA margin was 46% for the full year, compared to 55% in 2022.
- CapEx was 4% of net revenue for the full year, compared to 7% in 2022.
As covered, Adyen claims that it is “the financial technology platform of choice for leading companies.”
By providing end-to-end payments capabilities, data-driven insights, and financial products in a single global solution, Adyen helps businesses achieve their ambitions faster. With offices around the world, Adyen works “with the likes of Meta, Uber, H&M, eBay, and Microsoft.”
As reported, Adyen has announced that it is partnering with BILL (NYSE: BILL), a financial operations platform for small and midsize businesses (SMBs), to deliver advanced acquiring and issuing experiences for BILL’s accounts payable (AP) and accounts receivable (AR) solutions.
The partnership started with Adyen for Platforms’ card acquiring and has “grown also to include card issuing capabilities, marking a natural progression across Adyen’s platform offering.”
Blake Breathitt, SVP of Platforms and Financial Products at Adyen, said they look forward to being a part of BILL’s robust ecosystem of card products and service
