(News Bulletin 247) – The Adyen share fell heavily this Thursday on the Amsterdam Stock Exchange following the publication by the Dutch ‘fintech’ of half-year results weighed down by the heaviness of its investments and its salary costs.

Around 12:00 p.m., the title dropped more than 26% to return to three-year lows.

Adyen reported this morning a profit before tax (Ebitda) of 320 million euros for the first half, a figure down 10% compared to the previous year.

In its press release, the financial technology platform explains that its performance has been burdened by the increase in salary costs linked to its investments aimed at ensuring its international expansion.

Brought back per share, the half-year profit stands at 9.07 euros, but stands at just nine euros per share on an adjusted basis according to calculations established by analysts at Keefe, Bruyette & Woods (KBW).

By way of comparison, the consensus was expecting a much higher EPS of 9.77 euros, recalls the American investment bank.

At UBS, we recall that ‘market sentiment was cautious before the publication of results, many investors having anticipated worse than expected figures’.

After reaching an annual high of nearly 1,690 euros at the end of July, Adyen shares had consolidated by some 13% over the first two weeks of August.

In their reaction note, the UBS teams highlight a disappointing volume of transactions of 426 billion euros (+26%), which did not reach market projections which averaged 463 billion (+ 34%).

The design office also says it is concerned about the sharp slowdown in activity in North America, so far the engine of the group’s development, whose growth only amounted to 23% over the first six months. of 2023 against +52% a year earlier.

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