The full Q1 2020 and COVID-19 Trading Update can be found via this link.
Q1 2020 Summary
Processed volume of €67 billion in Q1 2020: up 38% year-on-year.
Net revenue of €135.5 million: up 34% year-on-year.
EBITDA of €63.6 million: up 16% year-on-year.
EBITDA margin was 47%, as we continue to invest in long-term growth.
Free cash flow conversion ratio of 93%, with CapEx remaining <5% of net revenues.
Building for the long-term
“At Adyen, we build everything for the long-term. The COVID-19 pandemic does not change that. Notwithstanding, where we have traditionally shied away from providing short-term updates, we felt it sensible to provide additional transparency to our shareholders during these unprecedented times. For us, we continue to focus on our merchants to help them navigate this new environment, albeit from a distance”, said Ingo Uytdehaage, Adyen’s CFO.
An emergency bill allowing companies to organize virtual annual general meetings is likely to take effect in the Netherlands shortly. Adyen's AGM, scheduled for May 26, will be converted from a hybrid AGM – for which a convening notice was sent out on April 10 – to a virtual AGM as soon as this bill has taken effect.