(News Bulletin 247) – Adyen reported Thursday a profit before tax (Ebitda) of 320 million euros for the first half, a figure down 10% compared to that of the previous year.
In a press release, the financial technology platform explains that its result was mainly burdened by the increase in salary costs resulting from its investments aimed at developing internationally and strengthening its workforce.
As of June 30, the Dutch fintech had 3,883 employees, compared to 2,575 a year earlier. In Paris, its teams now rely on 82 employees, compared with 58 at the end of June 2022.
Its net income for the semester totaled 739.1 million euros, an increase of 21% compared to the previous year, for a volume of transactions which rose by 23% to 426 billion euros.
Of this amount, the functionalities of its solutions dedicated to points of sale represented 67 billion euros, an increase of 49% on an annual basis.
Following these lackluster results, the stock fell by 21%, suffering by far the biggest drop in the AEX index on Thursday morning on the Amsterdam Stock Exchange on profit taking following gains of nearly 30% since the beginning of the year.
Adyen, whose unified solution allows merchants to connect directly to the Visa and Mastercard networks and to more than 250 payment methods used worldwide, counts groups such as Uber, eBay, Spotify, H&M and L’Oréal among its main clients.
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