Adyen publishes H2 2021 financial results

Rhea-AI Summary

Adyen reports strong financial results for H2 2021, highlighting significant growth in key metrics. Processed volume surged by 72% year-on-year to €300 billion, while net revenues increased by 47% to €556.5 million. The EBITDA stood at €357.3 million, up 51% year-on-year, resulting in a robust EBITDA margin of 64%. For the full year 2021, processed volume reached €516 billion, with net revenue at €1.0 billion. The free cash flow conversion ratio was 90%, emphasizing the company's operational efficiency and profitability.

Positive

• Processed volume for H2 2021 increased 72% year-on-year to €300 billion.
• Net revenue grew by 47% year-on-year to €556.5 million.
• EBITDA reached €357.3 million, up 51% year-on-year.
• EBITDA margin improved to 64%, reflecting strong operational scalability.
• Full year 2021 net revenue hit €1.0 billion, a 46% increase year-on-year.

Negative

• None.

AMSTERDAM, Feb. 9, 2022 /PRNewswire/ -- Results for the past half year were strong, and the indicators of sustainable profitable growth remain intact. Having achieved new milestones of scale in the past year including half a trillion Euros of processed volume and a billion Euros of net revenues, the view of the prospects of the business remain strong. 

Summary H2 2021

• Processed volume was €300 billion, up 72% year-on-year
• Net revenue was €556.5 million, up 47% year-on-year
• EBITDA of €357.3 million, up 51% year-on-year
• EBITDA margin was 64% as a result of strong net revenue growth paired with the operational scalability of the Adyen platform
• Free cash flow conversion ratio was 90%, with CapEx at 6% of net revenue driven by investments in our new headquarters in Amsterdam.

Shareholder letter & financial results

You can find our full H2 2021 financial results and accompanying shareholder letter here.

Earnings webcast

Today, at 3 PM CET, Pieter van der Does (CEO) and Ingo Uytdehaage (CFO) will host our H1 2021 earnings videoconference. You can access the live webcast here. On this same webpage, a recording will be made available shortly following the conference.

Full Year 2021 Figures

• Processed volume was €516 billion: up 70% year-on-year
• Net revenue was €1.0 billion: up 46% year-on-year
• EBITDA of €630 million: up 57% year-on-year
• EBITDA margin was 63% for the full year
• CapEx was 5% of net revenue for the full year

This press release contains information that qualifies, or may qualify, as inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation.

About Adyen

Adyen (AMS: ADYEN) is the payments platform of choice for many of the world's leading companies, providing a modern end-to-end infrastructure connecting directly to Visa, Mastercard, and consumers' globally preferred payment methods. Adyen delivers frictionless payments across online, mobile, and in-store channels. With offices across the world, Adyen serves customers including Facebook, Uber, Spotify, Casper, Bonobos and L'Oréal.

Important Regulatory Notice

This announcement is not for publication, distribution or release, directly or indirectly, in or into the United States of America (including its territories and possessions, any state of the United States of America and the District of Columbia), Canada, South Africa, Australia or Japan or any other jurisdiction where such an announcement would be unlawful. The distribution of this announcement may be restricted by law in certain jurisdictions and persons into whose possession this document or other information referred to herein comes should inform themselves about and observe any such restriction. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction.

Adyen's securities have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States without registration thereunder or pursuant to an available exemption therefrom. Neither this document nor the information contained herein constitutes or forms part of an offer to sell, or the solicitation of an offer to buy, securities in the United States.

This announcement is not an offer of securities or investments for sale nor a solicitation of an offer to buy securities or investments in any jurisdiction, including the United States, Canada, South Africa, Australia or Japan. Neither this announcement nor anything contained herein shall form the basis of, or be relied upon in connection with, any offer or commitment whatsoever in any jurisdiction. No action has been taken that would permit an offering of securities or possession or distribution of this announcement in any jurisdiction where action for that purpose is required. Persons into whose possession this announcement comes are required to inform themselves about and to observe any such restrictions.

The information contained in this announcement is for background purposes only and does not purport to be full or complete. No reliance may be placed for any purpose on the information contained in this announcement or its accuracy or completeness. This announcement does not purport to identify or suggest the risks (direct or indirect) which may be associated with an investment in Adyen securities. Any investment decision in connection with Adyen securities must be made solely on the basis of all publicly available information relating to such Adyen securities.

This communication may be restricted by law in certain jurisdictions and persons receiving this communication should inform themselves about and observe any such restriction and must not under any circumstances forward this communication to any other person. Failure to comply with such restrictions may violate securities laws of any such jurisdiction.

Unsponsored ADRs: As of October 10, 2008, the US Securities and Exchange Commission (SEC) published revisions to Exchange Act Rule 12g3-2(b) which permits depository institutions to establish unsponsored ADR programs without the participation of a non-US issuer. Adyen NV does not consent to the establishment of any unsponsored ADR program, and further does not authorize, endorse, support or encourage the creation of any such unsponsored ADR program in respect of its securities. Adyen NV will not actively, directly or indirectly participate in the creation of any unsponsored ADR program. Adyen NV specifically disclaims any liability whatsoever arising out of or in connection with any unsponsored ADR program. Adyen NV does not represent to any depository institution or any other person, nor should any depository institution or any person rely on a belief that the website of Adyen NV includes all published information in English or that Adyen NV otherwise satisfies the exemption criteria set forth in Exchange Act Rule 12g3-2(b).

 

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SOURCE Adyen Inc.

FAQ

What were Adyen's H2 2021 financial results?

Adyen's H2 2021 results showed processed volume of €300 billion, net revenue of €556.5 million, and EBITDA of €357.3 million.

How did Adyen perform in the full year 2021?

For the full year 2021, Adyen reported processed volume of €516 billion and net revenue of €1.0 billion.

What is Adyen's EBITDA margin for H2 2021?

Adyen's EBITDA margin for H2 2021 was 64%, demonstrating strong revenue growth and operational scalability.

What was Adyen's free cash flow conversion ratio?

Adyen achieved a free cash flow conversion ratio of 90% in H2 2021.

How much did Adyen's processed volume increase in H2 2021?

Adyen's processed volume increased by 72% year-on-year in H2 2021.