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Adyen half-year revenues up by 23%

Adyen (AMS: ADYEN) delivered a period of profitable growth as the company finished its accelerated investment phase of growing its global team.

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H2 2023 figures

Processed volume was €544.1 billion, up 29% year-on-year. Of these volumes, total point-of-sale volumes were €92.9 billion, up 37% year-on-year.

Net revenue was €887.0 million, up 23% year-on-year.

EBITDA was €423.0 million, up 14% year-on-year, with EBITDA margin landing at 48%. This figure was primarily impacted by team growth, which tempered as the accelerated investment initiative came to a close.

Free cash flow conversion ratio was 93%, with CapEx at 2% of net revenue.

Full-year 2023 figures

Processed volume was €970.1 billion, up 26% year-on-year. Of these volumes, point-of-sale volumes were €159.9 billion, up 42% for the full year.

Net revenue was €1,626.1 million, up 22% year-on-year.

EBITDA of €743.0 million, up 2% year-on-year.

EBITDA margin was 46% for the full year, compared to 55% in 2022.

CapEx was 4% of net revenue for the full year, compared to 7% in 2022.

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