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Amsterdam · February 08, 2024

Adyen publishes H2 2023 financial results

Adyen (AMS: ADYEN) delivered a period of profitable growth as the company finished its accelerated investment phase of growing its global team.

Adyen Shareholder Letter H2 2023

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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.

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.

Shareholder letter & interim financial results

This press release only partially covers information and results from H2 2023. You can find our full H2 2023 financial results and accompanying shareholder letter here.

The information in this press release and the shareholder letter & interim financial results is unaudited.

Earnings webcast

Today, at 3 PM CET, we will host our H2 2023 earnings videoconference. You can access the live session here. A recording will be made available shortly after on the same webpage.

About Adyen

Adyen (ADYEN:AMS) 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.

Important Legal Information

This press release contains information that qualifies, or may qualify, as inside information within the meaning of Article 7(1) to (4) of Regulation (EU) No 596/2014 (Market Abuse Regulation).

Any person who comes into possession of this document must inform themselves about and comply with any legal restrictions governing possession, distribution, or use of the document.

Forward-looking statements are not facts and only represent the current views and assumptions of Adyen N.V. (“Adyen”) regarding future events, many of which are by nature inherently uncertain and beyond Adyen’s control. Factors that could cause actual results to deviate materially from those anticipated by forward-looking statements include, but are not limited to, macroeconomic, demographic and political conditions and risks, actions taken and policies applied by governments, financial regulators and private organizations (including payment schemes and credit rating agencies), market conditions and turbulence in financial and other markets, and the success of Adyen in managing the related risks. Subject to statutory obligations, Adyen does not intend to publicly update or revise forward-looking statements to reflect events or circumstances after the date the statements were made, and assumes no obligation to do so.

Adyen does not consent to, authorize, endorse, support, encourage, or participate in, directly or indirectly, unsponsored depository receipt (“DR”) programs regarding Adyen securities. Adyen specifically disclaims any liability whatsoever arising out of or in connection with any unsponsored DR program.