AMSTERDAM (dpa-AFX) - Adyen (ADYEY, ADYEYF), a Dutch financial technology platform, reported Thursday higher profit and revenues in its first half, with growth in processed volume.
Looking ahead, the company now said it considers the previously anticipated acceleration unlikely following lower-than-expected market volume growth in the first half.
Earlier, the firm anticipated a slight acceleration in annual net revenue growth for 2025, assuming stable market volume growth, which is the growth of customers' own businesses.
Adyen expects the current trend to persist through the remainder of the year, with full-year net revenue growth projected to be broadly in line with H1 on a constant currency basis.
The company expects EBITDA margin to expand in 2025, albeit at a more moderate rate than in 2024.
For fiscal 2026, the company aims to continue to grow net revenue annually between the low-twenties and high-twenties percent, up to and including 2026.
The firm aims to improve EBITDA margin to levels above 50 percent in 2026.
In the first half, net income was 480.96 million euros, 17 percent higher than last year's 409.61 million euros. Earnings per share grew to 15.22 euros from 13.15 euros a year ago.
EBITDA was 543.7 million euros, up 28 percent year-over-year, and EBITDA margin improved to 50 percent from 46 percent in the prior year.
Net revenue climbed 20 percent to 1.09 billion euros from 913.38 million a year earlier largely driven by increased share of wallet with existing customers. Revenues grew 21 percent on a constant currency basis.
The company noted that the growth for the first half was tempered by the changes to U.S. tariffs, which weighed particularly on the firm's largest online retail merchants headquartered in APAC, especially in the latter part of the period.
Processed volume was 649.0 billion euros, up 5 percent year-over-year. Excluding a single large-volume customer, processed volume was up 23 percent.
Digital processed volume decreased 9 percent, or increased 18 percent YoY excluding a single large-volume customer. Unified Commerce volume increased 35 percent year-over-year, and Platforms processed volume increased 20 percent, or 59 percent excluding eBay.
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