Adyen N.V. announces H1 2022 financial results: Middle East expansion driven by new merchant acquisitions 

Adyen N.V. announces H1 2022 financial results: Middle East expansion driven by new merchant acquisitions 

Dubai, United Arab Emirates (August 18, 2022) – Adyen (AMS: ADYEN) presents a strong set of results today, displaying sustained profitable growth and the continuously increasing scale at which it operates.

H1 2022 Financials

  • Processed volume was €345.8 billion, up 60% year-on-year. Of these volumes, point-of-sale volumes were €44.9 billion, up 97% year-on-year.
  • Net revenue was €608.5 million, growing 37% year-on-year
  • EBITDA of €356.3 million, up 31% year-on-year, with EBITDA margin at 59%

Shareholder letter & financial results

You can find our full H1 2022 financial results and accompanying shareholder letter here.

​​

Global Growth

  • High growth and product innovation in unified commerce: To offer the most forward-thinking in-store customer journeys, Adyen seized the opportunity to speed up innovation on this front by launching the first models of its Adyen-designed terminals range. In addition, Adyen rolled out Tap to Pay on iPhone in collaboration with Apple during the period. The common denominator across these innovations is that they help our customers future-proof their in-store operations by facilitating flexible in-store customer journeys.
  • Building for the long term: Adyen continued to build its team to mirror its long-term view. The company was able to accelerate its hiring pace during the first half of 2022, and will work to keep up this increased hiring pace. While growing at speed, Adyen remains focused on scaling its company culture. The Adyen team totaled 2,575 FTE at the end of H1 2022. 

Local growth

Adyen’s expansion in the Middle East was driven by onboarding new online service providers and retailers including Starzplay and Apparel Group, which includes Tommy Hilfiger, Calvin Klein and 6thStreet. Adyen is equipping businesses in the region with an improved payments solution, allowing for higher authorization rates and improved in-store shopper flows with less friction.

Sander Maertens, Head of Middle East for Adyen, said: “Adyen’s performance in H1 2022 shows that Middle East retailers are looking for growth opportunities driven by digital transformation. We’re excited to partner with prominent brands who recognize the important role that payments play in creating exceptional customer experiences and business growth. In order to succeed, businesses have to react to shoppers placing higher demands on convenience, context and control at all stages of the shopper journey. There’s a lower level of tolerance for long lines and friction at checkout. At the same time, shoppers are rewarding brands that create personal and consistent experiences with higher spend and stronger loyalty. Adyen is helping brands to push the boundaries of physical and digital retail and offer satisfying shopper journeys.”

Earnings webcast

Today, at 3:00 PM CEST, we will host our H1 2022 earnings videoconference. You can access the live session here. On this same webpage, a recording will be made available shortly following the conference.

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 financial technology platform of choice for leading companies. By providing end-to-end payments capabilities, data-driven insights, and financial products in a single global solution, Adyen helps businesses achieve their ambitions faster. With offices around the world, Adyen works with the likes of Facebook, Uber, H&M, eBay, and Microsoft.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s