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