*Historical figures have been adjusted since prior publications of results.
+65% YOY - Margin 61%
* Please refer to the Interim Condensed Consolidated Financial Statements for further detail on historically restated figures.
H1 2021 FTE growth
Net revenue per region (in EUR millions). Comparative figures were restated on account of correction of error reported in the 2020 annual and H2 2020 interim condensed consolidated financial statements.
All amounts in EUR thousands unless otherwise stated
We have set the following financial objectives, wherein EBITDA margin guidance has been updated in February this year. Other objectives remain unchanged since IPO.
Net revenue growth: We aim to continue to grow net revenue and achieve a CAGR between the mid-twenties and low-thirties in the medium term by executing our sales strategy.
EBITDA margin: We aim to improve EBITDA margin, and expect this margin to benefit from our operational leverage going forward and increase to levels above 65% in the long term.
Capital expenditure: We aim to maintain a sustainable capital expenditure level of up to 5% of our net revenue.
We will host our earnings videoconference at 3pm CEST (9am ET) today (August 19) to discuss these results.
To watch the livestream, please visit our Investor Relations page.
A recording will be available on the website following the call.
As an appendix to this letter you will find three highlight pages of our growth pillars (Enterprise, Unified Commerce, and Mid Market) and our H1 2021 financial statements attached.
Pieter van der Does
The enterprise segment continues to drive the largest share of our growth. By building trusted partnerships with these merchants, we are consistently able to win additional volume through implementing new sales channels, geographies, and product lines with them. We see this is a consequence of our product development strategy – driven directly by merchant needs.
Enterprise volume in EUR billions.
As shopper preferences continue to shift towards a unified experience, a multi-channel strategy is becoming business critical for businesses globally. By integrating the online and offline channels in a single platform, we’re at the forefront of the new era of commerce with our unified commerce solution.
POS volume evolution, including share of total processed volume in EUR billions
In mid-market, we build to offer the full strength of the Adyen solution to merchants of all sizes via simplified integrations. Our value proposition to these merchants is grounded in our ability to future-proof their payments set-up via simplified access to the single platform, which leaves space to focus on growing their business.
Mid-market volume in EUR billions. We define mid-market merchants as merchants processing up to €25 million annually on our platform. In H1 2021, 4,278 merchants met this definition.
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